Quotes By Peter Drucker

Suppliers and especially manufacturers have market power because they have information about a product or a service that the customer does not and cannot have, and does not need if he can trust the brand. This explains the profitability of brands.

Management is doing things right; leadership is doing the right things.

The purpose of a business is to create a customer.

Few companies that installed computers to reduce the employment of clerks have realized their expectations... They now need more, and more expensive clerks even though they call them 'operators' or 'programmers.'

Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.

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

Plans are only good intentions unless they immediately degenerate into hard work.

Rank does not confer privilege or give power. It imposes responsibility.

No institution can possibly survive if it needs geniuses or supermen to manage it. It must be organized in such a way as to be able to get along under a leadership composed of average human beings.

Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window.

Knowledge has to be improved, challenged, and increased constantly, or it vanishes.

Most discussions of decision making assume that only senior executives make decisions or that only senior executives' decisions matter. This is a dangerous mistake.

So much of what we call management consists in making it difficult for people to work.

The productivity of work is not the responsibility of the worker but of the manager.