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…

Quote by Peter Drucker

Topics: Peter Drucker Quotes

Never mind your happiness; do your duty.

Never mind your happiness; do your duty.

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

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

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 best way to predict the future is to create it.

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

Management by objective works - if you know the objectives. Ninety percent of the time...

Management by objective works - if you know the objectives. Ninety percent of the time...

People who don't take risks generally make about two big mistakes a year. People who...

People who don't take risks generally make about two big mistakes a year. People who...

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...

Making good decisions is a crucial skill at every level.

Making good decisions is a crucial skill at every level.

Trying to predict the future is like trying to drive down a country road at...

Trying to predict the future is like trying to drive down a country road at...

The purpose of a business is to create a customer.

The purpose of a business is to create a customer.

Today knowledge has power. It controls access to opportunity and advancement.

Today knowledge has power. It controls access to opportunity and advancement.

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...

We now accept the fact that learning is a lifelong process of keeping abreast of...

We now accept the fact that learning is a lifelong process of keeping abreast of...

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

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...

No institution can possibly survive if it needs geniuses or supermen to manage it. It...

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...

The entrepreneur always searches for change, responds to it, and exploits it as an opportunity.

The entrepreneur always searches for change, responds to it, and exploits it as an opportunity.

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...

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...

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

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