The most important, and indeed the truly unique, contribution of management in the 20th century was the fifty-fold increase in the productivity of the MANUAL WORKER in manufacturing. The most important contribution management needs to make in the 21st century is similarly to increase the productivity of KNOWLEDGE WORK and the KNOWLEDGE WORKER.

Culture eats strategy for breakfast.

In a few hundred years, when the history of our time will be written from a long-term perspective, it is likely that the most important event historians will see is not technology, not the Internet, not e-commerce. It is an unprecedented change in the human condition. For the first time - literally - substantial and rapidly growing numbers of people have choices. For the first time, they will have to manage themselves. And society is totally unprepared for it.

Customers pay only for what is of use to them and gives them value. Nothing else constitutes quality.

We can say with certainty - or 90% probability - that the new industries that are about to be born will have nothing to do with information.

Management is about human beings. Its task is to make people capable of joint performance, to make their strengths effective and their weaknesses irrelevant.

In the next economic downturn there will be an outbreak of bitterness and contempt for the supercorporate chieftains who pay themselves millions. In every major economic downturn in US history the villains have been the heroes during the preceding boom.