Peter Drucker

One looks at a country’s history and traditions and culture and not just the economic statistics because countries do not change their fundamental behavior, or at least not fast.

Peter Drucker

[Economics and technology] are the wrong places to begin. The fundamental changes are social, and they are the greatest changes imaginable.

Peter Drucker

We are at the end of economic theory as we know it for three reasons. One is that information and knowledge don’t fall under the law of scarcity and under the law of diminishing returns. That’s a very important reason. When I sell you my book, you have it, and I don’t have it anymore. When I give you information, I still have it. In … [ Read more ]

Peter Drucker

Time is the scarcest resource, and unless it is managed nothing else can be managed.

Peter Drucker

Developing talent is business’s most important task—the sine qua non of competition in a knowledge economy.

Peter Drucker

The most dangerous thing is not having the wrong answer, it is asking the wrong question.

Peter Drucker

Good manners are the lubricating oil of organizations.

Peter Drucker

The most important thing in communication is hearing what isn’t said.

Peter Drucker

Checking the results of a decision against its expectations shows executives what their strengths are, where they need to improve, and where they lack knowledge or information.

Peter Drucker

All you can do in your company—and you’d better do it—is find out the strengths of the people who work for you and place them where their strengths can produce results, so that there is satisfaction. At present, we are focused on the weaknesses of people. When I talk to my clients about Joe, they say Joe cannot do this and Joe cannot do that. … [ Read more ]

Peter Drucker

The pioneer is convinced that it knows what market a new thing is designed for. But this rarely is the market that subsequently picks up the product.

Peter Drucker

After 40 years of preaching, we have convinced everybody that cash flow is more important than profit. (Everybody except Wall Street, and Wall Street will never learn that lesson. There are no slower learners than securities analysts. I can testify to that; I was one. So they and the companies they promote still run into credit crunches, which kill about four of every 10 new … [ Read more ]

Peter Drucker

No, matrix management does not work, but do you have a choice? I hate matrix management. There is an old proverb of Roman law that says, The slave who has three masters is a free man. Matrix management means that nobody is accountable for anything. I happen to believe in accountability. But what choice do you have?

Peter Drucker

Ignorance is the most important component for helping others to solve any problem in any industry. Ignorance is not such a bad thing if one knows how to use it, and all managers must learn how to do this. You must frequently approach problems with your ignorance; not what you think you know from past experience, because not infrequently, what you think you know is … [ Read more ]

Peter F. Drucker

There is need for the acceptance of leaders in every single institution and in every single sector that they, as leaders, have two responsibilities. They are responsible and accountable for the performance of their institutions, and that requires them and their institutions to be concentrated, focused, limited. They are responsible also, however, for the community as a whole.

Peter Drucker

The single most important thing to remember about any enterprise is that
there are no results inside its walls. The result of a business is a satisfied customer.

Peter Drucker

Success in the knowledge economy comes to those who know themselves, their strengths, their values, and how they best perform.

Peter Drucker

If you were going to make a list that’s as short as possible but as long as necessary of the things that determine which businesses win and which lose, what would be on your list?

Dick Grote, Peter Drucker

Peter Drucker’s thirty-year-old concept of creating a “manager’s letter” probably remains the best performance-management technique to use with senior executives. Each executive writes an annual letter to her superior, spelling out the objectives of her own job and those of the superior’s job as she sees them. She then sets down the performance standards she believes are being applied to her. She lists the goals … [ Read more ]