Peter Drucker Thinking Quotations

Strategic management is not a box of tricks or a bundle of techniques. It is analytical thinking and commitment of resources to action. But quantification alone is not planning. Some of the most important issues in strategic management cannot be quantified at all.

Profit for a company is like oxygen for a person. If you don't have enough of it, you're out of the game. But if you think your life is about breathing, you're really missing something.

Erroneous assumptions can be disastrous.

You can either take action, or you can hang back and hope for a miracle. Miracles are great, but they are so unpredictable.

The customer rarely buys what the company thinks it's selling.

What people in business think they know about the customer and market is likely to be more wrong than right...the customer rarely buys what the business thinks it sells him.

I no longer think that learning how to manage people, especially subordinates, is the most important for executives to learn. I am teaching above all else, how to manage oneself.

Effective people are not problem minded; they're opportunity-minded. They feed opportunities and starve problems. They think preventively.

I think the growth industry of the future in this country and the world will soon be the continuing education of adults. ...I think the educated person of the future is somebody who realizes the need to continue to learn. That is the new definition and it is going to change the world we live in and work in.

No financial man will ever understand business because financial people think a company makes money. A company makes shoes, and no financial man understands that. They think money is real. Shoes are real.

Every first-rate editor I have ever heard of reads, edits and rewrites every word that goes into his publication.... Good editors are not 'permissive'; they do not let their colleagues do 'their thing'; they make sure that everybody does the 'paper's thing.' A good, let alone a great editor is an obsessive autocrat with a whim of iron, who rewrites and rewrites, cuts and slashes, until every piece is exactly the way he thinks it should have been done.

The most critical case in a corporation, especially a big one, is when everything goes well, when you have accomplished your objectives. When the temptation is to work twice as hard instead of saying, "We have accomplished our objectives, we have to think again."

Most people think they know what they are good at. They are usually wrong... And yet, a person can perform only from strength.

Knowledge is being applied to knowledge itself. It is now fast becoming the one factor in production, sidelining both capital and labour.

It has been said, and only half in jest, that a tough, professionally led union is a great force for improving management performance. It forces the manager to think about what he is doing and to be able to explain his actions and behavior.

Economists think the poor need them to tell them that they are poor.