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

By themselves, character and integrity do not accomplish anything. But their absence faults everything else.

To arrive at the definition of the problem he must begin by finding the 'critical factor'. This is the element (or elements) in the situation that has to be changed before anything else can be changed, moved, acted upon.

Management means, in the last analysis, the substitution of thought for brawn and muscle, of knowledge for folkways and superstition, and of cooperation for force. It means the substitution of responsibility for obedience to rank, and of authority of performance for the authority of rank.

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

Knowledge is the source of Wealth. Applied to tasks we already know, it becomes Productivity. Applied to tasks that are new, it becomes Innovation.

Time is totally perishable and cannot be stored. Yesterday's time is gone forever, and will never come back. Time is always in short supply. There is no substitute for time. Everything requires time.