The most efficient way to produce anything is to bring together under one management as many as possible of the activities needed to turn out the product.

A business is not defined by its name, statutes, or articles of incorporation. It is defined by the business mission. Only a clear definition of the mission and purpose of the organization makes possible clear and realistic business objectives.

When a resource is scarce, you increase its yield.

The strength of the computer lies in its being a logic machine. It does precisely what it is programed to do. This makes it fast and precise. It also makes it a total moron; for logic is essentially stupid.

Objectives are not fate; they are direction. They are not commands; they are commitments. They do not determine the future; they are a means to mobilize resources and energies of the business for the making of the future.

It’s up to you to carve out your place, to know when to change course, and to keep yourself engaged and productive during a work life that may span some 50 years.

Managing innovation will increasingly become a challenge to management, and especially to top management, and a touchstone of its competence.