Quotes from Peter F. Drucker

Gentlemen, I take it we are all in complete agreement on the decision here." Everyone around the table nodded assent. "Then," continued Mr. Sloan, "I propose we postpone further discussion of this matter until our next meeting to give ourselves time to develop disagreement and perhaps gain some understanding of what the decision is all about.

The experience of the human race indicates strongly that the only person in abundant supply is the universal incompetent.

The truly important events on the outside are not the trends. They are changes in the trends.

3. Finally, don't try to innovate for the future. Innovate for the present! An innovation may have long-range impact; it may not reach its full maturity until twenty years later.

As a rule, theory does not precede practice. Its role is to structure and codify already proven practice. Its role is to convert the isolated and "atypical" from exception to "rule" and "system," and therefore into something that can be learned and taught and, above all, into something that can be generally applied.

Around here, I am only the guy who is responsible. If these men don't know what to do when they run into an enemy in the jungle, I'm too far away to tell them. My job is to make sure they know. What they do depends on the situation which only they can judge. The responsibility is always mine, but the decision lies with whoever is on the spot." In

The greatest wisdom not applied to action and behaviour is meaningless data

Only a clear, focused, and common mission can hold the organization together and enable it to produce results.

If you have a goal that you still postpone, that means, it's not one of your strengths

Above all, we know that an entrepreneurial strategy has more chance of success the more it starts out with the users – their utilities, their values, their realities. An innovation is a change in market or society. It produces a greater yield for the user, greater wealth-producing capacity for society, higher value or greater satisfaction. The test of an innovation is always what it does for the user. Hence, entrepreneurship always needs to be market-focused, indeed, market-driven.

Introverts do better alone with competition, extraverts do better in large group without competition

Profit is not the purpose of a business, but rather the test of its validity.

Entrepreneurial management in the new venture has four requirements: It requires, first, a focus on the market. It requires, second, financial foresight, and especially planning for cash flow and capital needs ahead. It requires, third, building a top management team long before the new venture actually needs one and long before it can actually afford one. And finally, it requires of the founding entrepreneur a decision in respect to his or her own role, area of work, and relationships.

The "non-profit" institution neither supplies goods or services nor controls. Its "product" is neither a pair of shoes nor an effective regulation. Its product is a changed human being. The non-profit institutions are human-change agents. Their "product" is a cured patient, a child that learns, a young man or woman grown into a self-respecting adult; a changed human life altogether.

An excess of meetings indicates that jobs have not been defined clearly, have not been structured big enough, have not been made truly responsible. Also the need for meetings indicates that the decisions and relations analyses either have not been made at all or have not been applied. The rule should be to minimize the need for people to get together to accomplish anything.

The subject of this book is managing oneself for effectiveness.

What makes demographics such a rewarding opportunity for the entrepreneur is precisely its neglect by decision makers, whether businessmen, public-service staffs, or governmental policymakers. They still cling to the assumption that demographics do not change – or do not change fast. Indeed, they reject even the plainest evidence of demographic changes.

If leaders are unable to slough off yesterday, to abandon yesterday, they simply will not be able to create tomorrow.

To do the most good requires saying no to pressures to stray, and the discipline to stop doing what does not fit.

Finally, goals and objectives for each area need to be set. Everyone who takes on the primary responsibility for a key activity, whether product development or people, or money, must be asked: 'What can this enterprise expect of you? What should we hold you accountable for? What are you trying to accomplish and by what time?' But this is elementary management, of course.

An organization is not, like an animal, an end in itself, and successful by the mere act of perpetuating the species. An organization is an organ of society and fulfills itself by the contribution it makes to the outside environment.

The earlier changes are discerned, the earlier the opportunities they create can be converted into innovations.

The truly important events on the outside are not the trends. They are changes in the trends. These determine ultimately success or failure of an organization and its efforts. Such changes, however, have to be perceived; they cannot be counted, defined, or classified. The classifications still produce the expected figures—as they did for the Edsel. But the figures no longer correspond to actual behavior.

Effective executives know that their subordinates are paid to perform and not to please their superiors. They know that it does not matter how many tantrums a prima donna throws as long as she brings in the customers.