Peter Drucker

Peter Drucker

Peter Ferdinand Drucker (November 19, 1909 – November 11, 2005) was an Austrian-born American management consultant, educator, and author, whose writings contributed to the philosophical and practical foundations of the modern business corporation. He was also a leader in the development of management education, he invented the concept known as management by objectives and self-control, and he has been described as "the founder of modern management".

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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.

We now accept the fact that learning is a lifelong process of keeping abreast of change. And the most pressing task is to teach people how to learn.

Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.

Efficiency is doing things right, effectiveness is doing the right things.

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

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