Peter Drucker Quotes


An institution which is financed by a budget - or which enjoys a monopoly which the customer cannot escape - is rewarded for what it deserves rather than what it earns. It is paid for 'good intentions' and 'programs'. It is paid for not alienating important constituents rather than satisfying any one group. It is misdirected by the way it is being paid into defining performance and results as what will produce the budget rather than as what will produce contribution.


Citations

Drucker, Peter F. Management: Tasks, Responsibilities, Practices. Harper & Row, 1974, p. 143.

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Peter Drucker
Peter Drucker
  • Born: November 19, 1909
  • Died: November 11, 2005
  • Nationality: American
  • Profession: Management Consultant, Educator Author

Peter Ferdinand Drucker was an Austrian 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".