Skip to content

"Value added" is a meaningless concept for a retail business , for a bank, for a life insurance company, and for any other business which is not primarily engaged in manufacturing.

— Peter Drucker MANAGEMENT: Tasks, Responsibilities, Practices (1973)

Another quote →

Topics

Business

More quotes by Peter Drucker

The basic definition of the business and of its purpose and mission have to be translated into objectives.

MANAGEMENT: Tasks, Responsibilities, Practices (1973)

There is only one valid definition of a business purpose: to create a customer.

The Practice of Management (1954)

The purpose of an organization is to enable common men to do uncommon things.

MANAGEMENT: Tasks, Responsibilities, Practices (1973)

The only thing we know about the future is that it is going to be different.

MANAGEMENT: Tasks, Responsibilities, Practices (1973)

We have only one alternative: either to build a functioning industrial society or see freedom itself disappear in anarchy and tyranny.

The Future of Industrial Man (1942)

All Peter Drucker quotes →

You may also like

I don't think that corporations are these big bogeymen that a lot of people paint them to be.

Krist Novoselic

An artisan busies himself with his work for three hours each day and spends nine hours in study.

Maimonides Mishneh Torah (1180)

The rule of my life is to make business a pleasure and pleasure my business.

Aaron Burr

A business of high principle generates greater drive and effectiveness because people know that they can do the right thing decisively and with confidence.

Marvin Bower The Will to Manage (1966)

Attribution

Quote text and notes from Wikiquote: Peter Drucker (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.