Peter Drucker Quotes

the effective decision does not, as so many texts on decision-making proclaim, flow from a consensus on the facts. The understanding that underlies the right decision grows out of the clash and conflict of divergent opinions and out of the serious consideration of competing alternatives.

If you want something new, you have to stop doing something old

DuPont, for 130 years, had confined itself to making munitions and explosives. In the mid-1920s it then organized its first research efforts in other areas, one of them the brand-new field of polymer chemistry, which the Germans had pioneered during World War I. For several years there were no results at all. Then, in 1928, an assistant left a burner on over the weekend. On Monday morning, Wallace H. Carothers, the chemist in charge, found that the stuff in the kettle had congealed into fibers. It took another ten years before DuPont found out how to make Nylon intentionally. The point of the story is, however, that the same accident had occurred several times in the laboratories of the big German chemical companies with the same results, and much earlier. The Germans were, of course, looking for a polymerized fiber — and they could have had it, along with world leadership in the chemical industry, ten years before DuPont had Nylon. But because they had not planned the experiment, they dismissed its results, poured out the accidentally produced fibers, and started all over again.

Communication is always "propaganda." The emitter always wants "to get something across."

People often overestimate what they can accomplish in one year. But they greatly underestimate what they could accomplish in five years.

The individual needs the return to spiritual values, for he can survive in the present human situation only by reaffirming that man is not just a biological and psychological being but also a spiritual being, that is creature, and existing for the purposes of his Creator and subject to Him.

This defines entrepreneur and entrepreneurship - the entrepreneur always searches for change, responds to it, and exploits it as an opportunity.

Doing the right thing is more important than doing the thing right.

The problem in my life and other people's lives is not the absence of knowing what to do but the absence of doing it.

Effectiveness must be learned.

The basic definition of the business and of its purpose and mission have to be translated into objectives.

Everyone can make the wrong decision — in fact, everyone will sometimes make a wrong decision. But no one needs to make a decision which, on its face, falls short of satisfying the boundary conditions.

Successful careers are not planned. They develop when people are prepared for opportunities because they know their strengths, their method of work, and their values.

Innovations had better be capable of being started small, requiring at first little money, few people, and only a small and limited market. Otherwise, there is not enough time to make the adjustments and changes that are almost always needed for an innovation to succeed. Initially innovations rarely are more than ‘almost right’. The necessary changes can be made only if the scale is small and the requirements for people and money fairly modest.

We hear a great deal of talk about the midlife crisis of the executive. It is mostly boredom. At 45, most executives have reached the peak of their business careers, and they know it. After 20 years of doing very much the same kind of work, they are very good at their jobs. But they are not learning or contributing or deriving challenge and satisfaction from the job. And yet they are still likely to face another 20 if not 25 years of work. That is why managing oneself increasingly leads one to begin a second career.
There are three ways to develop a second career. The first is actually to start one. [...] The second way to prepare for the second half of your life is to develop a parallel career. [...] Finally, there are the social entrepreneurs.
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There is one prerequisite for managing the second half of your life: You must begin doing so long before you enter it.