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Collated by Paul Quek

  1. Almost everybody today believes that nothing in economic history has ever moved as fast as, or had a greater impact than, the Information Revolution. But the Industrial Revolution moved at least as fast in the same time span, and had probably an equal impact if not a greater one.

  2. A manager is responsible for the application and performance of knowledge.

  3. Business has only two functions - marketing and innovation.

  4. Checking the results of a decision against its expectations shows executives what their strengths are, where they need to improve, and where they lack knowledge or information.

  5. Dealmaking beats working. That's why there are deals that make no sense.

  6. Effective leadership is not about making speeches or being liked; leadership is defined by results not attributes.

  7. Efficiency is doing better what is already being done.

  8. Efficiency is doing things right; effectiveness is doing the right things.

  9. Executives owe it to the organization and to their fellow workers not to tolerate nonperforming individuals in important jobs.

  10. For centuries, we have attempted communication "downward". This however, cannot work, no matter how hard and how intelligently we try. It cannot work, first, because it focuses on what we want to say. It assumes, in other words, that the utterer communicates. There can be no communication if it is conceived as going from "I" to "thou." Communication works only from one member of "us" to "another."

  11. In all recorded history there has not been one economist who has had to worry about where the next meal would come from.

  12. It's more important to do the right thing than to do things right.

  13. Making good decisions is a crucial skill at every level.

  14. Management by objectives works if you first think through your objectives. Ninety percent of the time you haven't.

  15. Management is doing things right; leadership is doing the right things.

  16. Management means, in the last analysis, the substitution of thought for brawn and muscle, of knowledge for folklore and superstition, and of cooperation for force. . .

  17. Most discussions of decision making assume that only senior executives make decisions or that only senior executives' decisions matter. This is a dangerous mistake.

  18. Most management people I know still believe that the Bible begins with the words: 'In the beginning God created stable exchange rates.'

  19. No decision has been made unless carrying it out in specific steps has become someone’s work assignment and responsibility.”

  20. No executive has ever suffered because his subordinates were strong and effective.

  21. One of the great movements in my lifetime among educated people is the need to commit themselves to action. Most people are not satisfied with giving money; we also feel we need to work.

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

  23. People who do take risks generally make about two big mistakes a year.

  24. Plans are only good intentions unless they immediately degenerate into hard work.

  25. Quality in a product or service is not what the supplier puts in. It is what the customer gets out and is willing to pay for. A product is not quality because it is hard to make and costs a lot of money, as manufacturers typically believe. This is incompetence. Customers pay only for what is of use to them and gives them value. Nothing else constitutes quality.

  26. So much of what we call management consists in making it difficult for people to work.

  27. Some of the best business and nonprofit CEOs I've worked with over a sixty-five-year consulting career were not stereotypical leaders. They were all over the map in terms of their personalities, attitudes, values, strengths, and weaknesses.

  28. Suppliers and especially manufacturers have market power because they have information about a product or a service that the customer does not and cannot have, and does not need if he can trust the brand. This explains the profitability of brands.

  29. Teamwork is neither 'good' nor 'desirable'. It is a fact. Wherever people work together or play together they do so as a team. Which team to use for what purpose is a crucial, difficult and risky decision that is even harder to unmake. Managements have yet to learn how to make it. Peter F Drucker

  30. The best way to predict the future .... is to create it!

  31. The computer is a moron.

  32. The corporation is the “master”, the employee is the “servant”. Because the corporation owns the means of production without which the employee could not make a living, the employee needs the corporation more than vice versa.

  33. The entrepreneur always searches for change, responds to it, and exploits it as an opportunity.

  34. The most efficient way to produce anything is to bring together under one management as many as possible of the activities needed to turn out the product.

  35. The most important thing in communication is to hear what isn't being said.

  36. The most serious mistakes are not being made as a result of wrong answers. The truly dangerous thing is asking the wrong question.

  37. The new information technology.. Internet and e-mail.. have practically eliminated the physical costs of communications.

  38. The purpose of business is to create and keep a customer.

  39. There are an enormous number of managers who have retired on the job.

  40. There is nothing so useless as doing efficiently that which should not be done at all.

  41. Time is the scarcest resource and unless it is managed nothing else can be managed.

  42. Too many mergers resemble the marriage of two cripples who become twice as old, twice as bureaucratic and twice as undynamic.

  43. Unless commitment is made, there are only promises and hopes... but no plans.

  44. We know nothing about motivation. All we can do is write books about it.

  45. What you have to do and the way you have to do it is incredibly simple. Whether you are willing to do it is another matter.

  46. Whenever you see a successful business, someone once made a courageous decision.

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