Quotes by Peter F. Drucker

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

Follow effective action with quiet reflection. From the quiet reflection will come even more effective action.

No one learns as much about a subject as one who is forced to teach it.

Work is a process, and any process needs to be controlled. To make work productive, therefore, requires building the appropriate controls into the process of work.

This defines entrepreneur and entrepreneurship - the entrepreneur always searches for change, responds to it, and exploits it as an opportunity.

Entrepreneurship rests on a theory of economy and society. The theory sees change as normal and indeed as healthy. And it sees the major task in society - and especially in the economy - as doing something different rather than doing better what is already being done. That is basically what Say, two hundred years ago, meant when he coined the term entrepreneur. It was intended as a manifesto and as a declaration of dissent: the entrepreneur upsets and disorganizes. As Joseph Schumpeter formulated it, his task is creative destruction.

The companies that refused to make hard choices, or refused to admit that anything much was happening, fared badly. If they survive, it is only because their respective governments will not let them go under.

The people who work within these industries or public services know that there are basic flaws. But they are almost forced to ignore them and to concentrate instead on patching here, improving there, fighting the fire or caulking that crack. They are thus unable to take the innovation seriously, let alone to try to compete with it. They do not, as a rule, even notice it until it has grown so big as to encroach on their industry or service, by which time it has become irreversible. In the meantime, the innovators have the field to themselves.

Entrepreneurship is neither a science nor an art. It is a practice.

And it is change that always provides the opportunity for the new and different. Systematic innovation therefore consists in the purposeful and organized search for changes, and in the systematic analysis of the opportunities such changes might offer for economic or social innovation.

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

Strategy is a commodity, execution is an art.

People who dont take risks generally make about two big mistakes a year. People who do take risks generally make about two big mistakes a year.

Unless commitment is made, there are only promises and hopes; but no plans.

Whats measured improves

There is nothing so useless as doing efficiently that which should not be done at all.

To be sure, the fundamental task of management remains the same: to make people capable of joint performance through common goals, common values, the right structure, and the training and development they need to perform and to respond to change.

Until we can manage time, we can manage nothing else.

There are an enormous number of managers who have retired on the job.

The really important things are said over cocktails and are never done.