Efficiency is doing the thing right. Effectiveness is doing the right thing. - Peter Drucker

As this example suggests, it is rarely possible — or even particularly fruitful — to look too far ahead. A plan can usually cover no more than 18 months and still be reasonably clear and specific. So the question in most cases should be, Where and how can I achieve results that will make a difference within the next year and a half ? The answer must balance several things. First, the results should be hard to achieve — they should require “stretching,” to use the current buzzword. But also, they should be within reach. To aim at results that cannot be achieved — or that can be only under the most unlikely circumstances — is not being ambitious; it is being foolish. Second, the results should be meaningful. They should make a difference. Finally, results should be visible and, if at all possible, measurable. From this will come a course of action: what to do, where and how to start, and what goals and deadlines to set. RESPONSIBILITY

People who don't take risks generally make about two big mistakes a year. People who do take risks generally make about two big mistakes a year.

The people who work within these industries or public services know that there are basic flaws. But they are almost forced to ignore them and to concentrate instead on patching here, improving there, fighting the fire or caulking that crack. They are thus unable to take the innovation seriously, let alone to try to compete with it. They do not, as a rule, even notice it until it has grown so big as to encroach on their industry or service, by which time it has become irreversible. In the meantime, the innovators have the field to themselves.