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Carpe diem: Druckerism for entrepreneurs

I appreciate wisdom of Peter Drucker lot more now than when I had him as my professor at business school. If he were alive today, he probably would speak up for entrepreneurs, offer his no nonsense advice for entrepreneurs to innovate, stay relevant to the changing times and never to do really well the things that should not be done at all in the first place.

Here are some quotes from Drucker to keep you going:

- Accept the fact that we have to treat almost anybody as a volunteer.

- Business, that’s easily defined – it’s other people’s money.

- Company cultures are like country cultures. Never try to change one. Try, instead, to work with what you’ve got.

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

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

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

- Knowledge has to be improved, challenged, and increased constantly, or it vanishes.

- Management by objective works – if you know the objectives. Ninety percent of the time you don’t.

- My greatest strength as a consultant is to be ignorant and ask a few questions.

- Rank does not confer privilege or give power. It imposes responsibility.
- The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.

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

- 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.
- The most important thing in communication is hearing what isn’t said.
- The only thing we know about the future is that it will be different.
- The purpose of a business is to create a customer.

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

4 Responses to “Carpe diem: Druckerism for entrepreneurs”

  1. w webber says:
    October 6, 2010 at 6:13 am

    Druckerism is still very much relevant. Modern CEOs can learn a lot from his wisdom!

  2. Jay Maharjan says:
    October 6, 2010 at 7:45 pm

    Entrepreneurs need to focus on what drucker preached for a long time – innovation, innovation, innovation

  3. Jay Maharjan says:
    October 6, 2010 at 8:01 pm

    Http://www.scribd.com/doc/5579/Creativity-The-Discipline-of-Innovation-By-Drucker-Peter

    Great article Drucker wrote for HBR in 1985 on innovation – “functional inspiration leads to innovation”

    Principle still applies.. Find the pain points, introduce product, service that addresses it and take to market quick

  4. admin says:
    October 12, 2010 at 12:34 am

    Excerpt: The Drucker Lectures http://www.businessweek.com/managing/content/sep2010/ca20100924_842108.htm

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