The most critical case in a corporation, especially a big one, is when everything goes well, when you have accomplished your objectives. When the temptation is to work twice as hard instead of saying, "We have accomplished our objectives, we have to think again."

Planning is actually incompatible with an entrepreneurial society and economy. Planning is the kiss of death of entrepreneurship.

The job of a professional manager is not to like people. It is not to change people. It is to put their strengths to work.

Balance Sheets are meaningless. Our accounting systems are still based on the assumption that 80% of costs are manual labor.

The knowledge we now consider knowledge proves itself in action. What we now mean by knowledge is information effective in action, information focused on results. Results are outside the person, in society and economy, or in the advancement of knowledge itself. To accomplish anything this knowledge has to be highly specialized.

Knowledge is power, which is why people who had it in the past often tried to make a secret of it. In post-capitalism, power comes from transmitting information to make it productive, not from hiding it.

Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.