- From the peak there is only one easy way to go: downwards.
- The essence of business enterprise, the vital principle that determines its nature,
is economic performance.
- Management must always, in every decision and action, put economic performance first.
- A business cannot be defined or explained in terms of profit.
- Profit is not the explanation, cause or rationale of business behabiour and business
decisions,but the test of their validity.
- For the problem if any business is not maximization of profit but the achievement of
sufficient profit to cover the risks of economic activity and thus to avoid loss.
- There is only one valid definition of business purpose: to create a customer.
- Any business entrepise has two - and only these two - basic functions: marketing and
- A business entreprise can exist only on an expanding economy, or at least in one in
which considers change both natural and desirable.
- It is not necessary for a business to grow bigger; it is necessary that it constantly
(first published: 1955. this text is taken in Pan books published in 1968/1978. UK)