Peter Drucker (1909-2005)

The practice of management

  • From the peak there is only one easy way to go: downwards. (p.15)

  • The essence of business enterprise, the vital principle that determines its nature, is economic performance. (p.18)

  • Management must always, in every decision and action, put economic performance first. (p.19)

  • A business cannot be defined or explained in terms of profit. (p.50)

  • Profit is not the explanation, cause or rationale of business behabiour and business decisions,but the test of their validity. (p.51)

  • 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. (p.51)

  • There is only one valid definition of business purpose: to create a customer. (p.52)

  • Any business entrepise has two - and only these two - basic functions: marketing and innovation. (p.53)

  • A business entreprise can exist only on an expanding economy, or at least in one in which considers change both natural and desirable. (p.55)

  • It is not necessary for a business to grow bigger; it is necessary that it constantly grow better. (p.55)

    (first published: 1955. this text is taken in Pan books published in 1968/1978. UK)

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dernière mise à jour : 23/11/2009 version: YF:12/2001