In the managerial organization, the top people sit in judgment; in the innovative organization it is their job to encourage ideas, no matter how unripe or crude.

It is willingness of people to give of themselves over and above the demands of the job that distinguishes the great from the merely adequate.

Salvation by society failed the most where it promised the most, in the communist countries. But it also failed in the West. Practically no government program enacted since the 1950s in the Western world - or in the communist countries - has been successful.

(Waste = Loss): The first rule of business is to survive and the guiding principle of business economics is not the maximisation of profit, it is the avoidance of loss

If a manager spends more than 10 percent of his time on "human relations" the group is probably too large.

There is no reason to believe that the people who staff the managerial and professional positions in our service institutions are any less qualified, any less competent or honest, or any less hard-working than the men who manage businesses. Conversely, there is no reason to believe that business managers, put in control of service institutions, would do better than the 'bureaucrats'. Indeed, we know that they immediately become bureaucrats themselves.

Luck never built a business. Prosperity and growth come only to the business that systematically finds and exploits its potential.