Because its purpose is to create a customer, the business enterprise has two - and only these two — basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are 'costs'.

Working with people is difficult, but not impossible.

The manager is a servant. His master is the institution he manages and his first responsibility must therefore be to it.

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.

I have been saying for many years that we are using the word 'guru' only because 'charlatan' is too long to fit into a headline.

Strategic planning is the continuous process of making present entrepreneurial (risk-taking) decisions systematically and with the greatest knowledge of their futurity; organizing systematically the efforts needed to carry out these decisions; and measuring the results of these decisions against the expectations through organized, systematic feedback.

A manager is responsible for the application and performance of knowledge.