When a business is bought, it is bought for its potential—for its future, not its past. - Russell L. Ackoff

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When a business is bought, it is bought for its potential—for its future, not its past.

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About Russell L. Ackoff

Russell L. Ackoff (12 February 1919 – 29 October 2009) was an American organizational theorist, professor and pioneer in the field of operations research, systems thinking and management science.

Also Known As

Alternative Names: Russel Ackoff Russell Lincoln Ackoff Rassel Akoff
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Analysis of a system reveals its structure and how it works. It provides the knowledge required to make it work efficiently and to repair it when it stops working. Its product is know-how, knowledge, not understanding. To enable a system to perform effectively we must understand it—we must be able to explain its behavior—and this requires being aware of its functions in the larger systems of which it is a part.

Data is raw. It simply exists and has no significance beyond its existence (in and of itself). It can exist in any form, usable or not. It does not have meaning of itself. In computer parlance, a spreadsheet generally starts out by holding data.

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