On Money
Money follows knowledge. Money is not a problem. The problem is the leadership and direction.
Profitability is not the purpose of , but a limiting factor on, business enterprise and business activity.
We need a measure, not a count.
On Management
Management has mostly to do with people, not techiques and procedures. Their engagement is what matters.
The effective decision makers actually makes few decisions.
The three most important questions are:
What is our business?
Who is the customer?
What does the customer consider value?
Management by objectives works if you first think through your objectives. Ninety percent of the time you haven't.
On Knowledge
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.
The essence of management is to make knowledge productive. Knowledge exists only in application.(Actionable knowledge as opposed to just information）
We will not be limited by the information we have. We will be limited by our ability to process the information.
On the Individual
Know your strengths.
The first question to ask is what needs to be done.
Every six months, ask your selft, what do I want to be remmnered for?
Note： This is excerpted from The Definitive Drucker book by Elizabeth Haas Edersheim