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

Quote by Peter Drucker

Topics: Peter Drucker Quotes

Business, that's easily defined - it's other people's money.

Business, that's easily defined - it's other people's money.

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

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

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

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

A manager is responsible for the application and performance of knowledge.

A manager is responsible for the application and performance of knowledge.

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

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

Charisma becomes the undoing of leaders. It makes them inflexible, convinced of their own infallibility,...

Charisma becomes the undoing of leaders. It makes them inflexible, convinced of their own infallibility,...

The best way to predict the future is to create it.

The best way to predict the future is to create it.

Everybody has accepted by now that change is unavoidable. But that still implies that change...

Everybody has accepted by now that change is unavoidable. But that still implies that change...

The computer is a moron.

The computer is a moron.

The most efficient way to produce anything is to bring together under one management as...

The most efficient way to produce anything is to bring together under one management as...

Objectives are not fate; they are direction. They are not commands; they are commitments. They...

Objectives are not fate; they are direction. They are not commands; they are commitments. They...

Never mind your happiness; do your duty.

Never mind your happiness; do your duty.

My greatest strength as a consultant is to be ignorant and ask a few questions.

My greatest strength as a consultant is to be ignorant and ask a few questions.

The aim of marketing is to know and understand the customer so well the product...

The aim of marketing is to know and understand the customer so well the product...

Most of what we call management consists of making it difficult for people to get...

Most of what we call management consists of making it difficult for people to get...

Company cultures are like country cultures. Never try to change one. Try, instead, to work...

Company cultures are like country cultures. Never try to change one. Try, instead, to work...

When a subject becomes totally obsolete we make it a required course.

When a subject becomes totally obsolete we make it a required course.

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

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

Few companies that installed computers to reduce the employment of clerks have realized their expectations......

Few companies that installed computers to reduce the employment of clerks have realized their expectations......

Executives owe it to the organization and to their fellow workers not to tolerate nonperforming...

Executives owe it to the organization and to their fellow workers not to tolerate nonperforming...