Profitability is the sovereign criterion of the enterprise.

Knowledge has to be improved, challenged, and increased constantly, or it vanishes.

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

Inside an organization there are only cost centers. The only profit center is a customer whose check has not bounced.

Everything requires time. It is the only truly universal condition. All work takes place in time and uses up time. Yet most people take for granted this unique, irreplaceable, and necessary resource. Nothing else, perhaps, distinguishes effective executives as much as their tender loving care of time.

If there is any one secret of effectiveness, it is concentration. Effective executives do first things first and they do one thing at a time.

The key to greatness is to look for people's potential and spend time developing it.