Daily quote |
Peter Drucker(1909 – 2005) Full name: Peter Ferdinand Drucker. An Austrian-born American management consultant, educator, writer and university professor, whose writings contributed to the philosophical and practical foundations of the modern business corporation. He was also a leader in the development of management education, and he invented the concept known as management by objectives. A manager is responsible for the application and performance of knowledge. Accept the fact that we have to treat almost anybody as a volunteer. Business, that's easily defined - it's other people's money. Checking the results of a decision against its expectations shows executives what their strengths are, where they need to improve, and where they lack knowledge or information. Efficiency is doing things right; effectiveness is doing the right things. Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth. Knowledge has to be improved, challenged, and increased constantly, or it vanishes. Making good decisions is a crucial skill at every level. Management by objective works - if you know the objectives. Ninety percent of the time you don't. Management is doing things right; leadership is doing the right things. |