"(Waste = Loss): The first rule of..." - Quote by Peter Drucker
(Waste = Loss): The first rule of business is to survive and the guiding principle of business economics is not the maximisation of profit, it is the avoidance of loss
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“The computer, being a mechanical moron, can handle only quantifiable data.”
“Profit is not the purpose of a business, but rather the test of its validity”
“What is the major problem? It is fundamentally the confusion between effectiveness and efficiency that stands between doing the right things and doing things right. There is surely nothing quite so useless as doing with great efficiency what should not be done at all.”
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“The business man - the man to whom age brings golf instead of wisdom.”
“My model for business is The Beatles: They were four guys that kept each others' negative tendencies in check; they balanced each other. And the total was greater than the sum of the parts.”
“I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business.”