Businesses once grew by one of two ways; grass roots up, or by acquisition... Today businesses grow through alliances - all kinds of dangerous alliances. Joint ventures and customer partnerings which, by the way, very few people understand. Peter Drucker More Quotes by Peter Drucker More Quotes From Peter Drucker The correct assumption is that what individuals have learned by age twenty-one will begin to become obsolete five to ten years later and will have to be replaced-or at least refurbished-by new learning, new skills, new knowledge. Peter Drucker skills age years There is no perfect strategic decision. One always has to pay a price. One always has to balance conflicting objectives, conflicting opinions, and conflicting priorities. The best strategic decision is only an approximation - and a risk. Peter Drucker priorities decision perfect Free enterprise cannot be justified as being good for business. It can be justified only as being good for society. Peter Drucker justified be-good enterprise Knowledge is power, which is why people who had it in the past often tried to make a secret of it. In post-capitalism, power comes from transmitting information to make it productive, not from hiding it. Peter Drucker hiding information communication Innovation requires us to systematically identify changes that have already occurred in a business - in demographics, in values, in technology or science - and then to look at them as opportunities. It also requires something that is most difficult for existing companies to do: to abandon rather than defend yesterday. Peter Drucker technology yesterday opportunity No executive has ever suffered because his subordinates were strong and effective. Peter Drucker strong leadership inspirational Ideas are like frog eggs: you've got to lay a thousand to hatch one. Peter Drucker frogs eggs ideas Organizations are no longer built on force, but on trust. Peter Drucker built force organization The 1st question the effective decision-maker asks is: 'Is this a generic situation or an exception?' Peter Drucker situation makers decision Fortunately or unfortunately, the one predictable thing in any organization is the crisis. That always comes. That's when you do depend on the leader: The job of the leader is to build an organization that is battle-ready, that has high morale, that knows how to behave, that trusts itself, and where people trust one another. Peter Drucker organization jobs people 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. Peter Drucker building process needs What you have to do and the way you have to do it is incredibly simple. Whether you are willing to do it is another matter. Peter Drucker will-and-determination simple motivational Balance Sheets are meaningless. Our accounting systems are still based on the assumption that 80% of costs are manual labor. Peter Drucker assumption balance cost Brilliant men are often strikingly ineffectual. They fail to realize that the brilliant insight is not by itself achievement. They never have learned that insights become effectiveness only through hard systematic work. Peter Drucker systematic effectiveness men A manager sets objectives - A manager organizes - A manager motivates and communicates - A manager, by establishing yardsticks, measures - A manager develops people. Peter Drucker communicate yardsticks people It's more important to do the right thing than to do things right. Peter Drucker important integrity inspirational The most common source of mistakes in management decisions is the emphasis on finding the right answer rather than the right question. Peter Drucker decision answers mistake Don't solve problems. Pursue opportunities. Peter Drucker solve problem opportunity The most serious mistakes are not being made as a result of wrong answers. The true dangerous thing is asking the wrong question. Peter Drucker wrong-answers business mistake Education gives you neither experience nor wisdom. Peter Drucker giving
