"There are companies that are good at..." - Quote by Peter Drucker
There are companies that are good at improving what they're already doing. There are companies that are good at extending what they're doing. And finally there are companies that are good at innovation. Every large company has to be able to do all three - improve, extend, and innovate - simultaneously.
More by Peter Drucker
“Most executives have learned that what one postpones, one actually abandons ... timing is a most important element in the success of any effort. To do five years later what would have been smart to do five years earlier, is almost a sure recipe for frustration and failure.”
“There is no reason to believe that the people who staff the managerial and professional positions in our service institutions are any less qualified, any less competent or honest, or any less hard-working than the men who manage businesses. Conversely, there is no reason to believe that business managers, put in control of service institutions, would do better than the 'bureaucrats'. Indeed, we know that they immediately become bureaucrats themselves.”
“Systematic change requires a willingness to look on change as an opportunity.”
More on Innovation
“If you think of global public goods like polio eradication, the kind of risk-taking new approach, philanthropy really does have a role to play there, because government doesn't do R&D about new things naturally as much as it probably should, and so philanthropy's there.”
“Outlook 2003 did create the idea of search folders and the whole Longhorn philosophy. You can see it at work in search folders, where instead of having to drop things into individual folders, and things exist only in one folder, you create these search folders and you have the criteria for the search folder.”
“Marketing and innovation produce results; all the rest are costs.”
More on Business
“Like a human being, a company has to have an internal communication mechanism, a "nervous system", to coordinate its actions.”
“If you have too many problems, maybe you should get out of business. There is no law that says a company must last forever.”
“If there's a problem, we at Wine Library never tell ourselves that once we handle this issue, we'll never have to deal with the person again. We talk to every single person as though we're going to wind up sitting next to that person at his or her mother's house that night for dinner.”