Entrepreneurship rests on a theory of economy and society. The theory sees change as normal and indeed as healthy. And it sees the major task in society – and especially in the economy – as doing something different rather than doing better what is already being done. This is basically what Say, two hundred years ago, meant when he coined the term entrepreneur.

Profit is not the explanation, cause, or rationale of business behavior and business decisions, but the test of their validity.

You can either take action, or you can hang back and hope for a miracle. Miracles are great, but they are so unpredictable.

Too many leaders try to do a little bit of 25 things and get nothing done. They are very popular because they always say yes. But they get nothing done.

No financial man will ever understand business because financial people think a company makes money. A company makes shoes, and no financial man understands that. They think money is real. Shoes are real.

Far too much reorganization goes on all the time. Organizitis is like a spastic colon.

A primary task of management in the developed countries in the decades ahead will be to make knowledge productive.