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RssI 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.
- Efficiency is doing things right; effectiveness is doing the right things.
- 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.
- The entrepreneur always searches for change, responds to it, and exploits it as an opportunity.
- There is nothing so useless as doing efficiently that which should not be done at all.
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Druckerism is still very much relevant. Modern CEOs can learn a lot from his wisdom!
Entrepreneurs need to focus on what drucker preached for a long time – innovation, innovation, innovation
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
Excerpt: The Drucker Lectures http://www.businessweek.com/managing/content/sep2010/ca20100924_842108.htm