Peter Drucker, a management sage- had a wonderful definition of an entrepreneur ( extrapolated by me) – as someone who adds value to the dynamic of an experience. So, for example, when opening a restaurant – what makes it successful? Many serve the same ingredients ( Hamburgers, Salad, Chicken) but the successful restaurants create a dynamic, enhance the experience and develop a value that does not exist anywhere else.
For example, the restaurant chain called Johnny Rockets created a 50’s experience – serving the same thing as many other hamburger places. But the experience made the food more appealing, and the eating event more fun.
Peter Drucker said that the entrepreneur searches for change, responds to it, and exploits it as an opportunity. Innovation is the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or a different service.
You are either a multiplier or a diminisher in your life. Be a multiplier – add value, give more to others whether it is more smiles, more laughter, more appreciation, more relaxed times, more happiness. And do that by listening better, speaking less, empathising more and being more generous.
Peter Drucker was not well appreciated in the earlier parts of his life – but his sentiments are as true today as they were decades ago.
The Drucker School of Management embodies this statement by Peter Drucker –
Management is doing things right; leadership is doing the right things.
The Drucker School has joined with Southwestern School of Law to create a JDMBA program where I am giving a scholarship to a woman candidate for that joint degree. My goal in doing that was to take the ethical approach that Peter Drucker believed in and combine it with the ethical approach to the practice of law – and create business people who understand the law and can be creative in what they do- and lawyers who understand business and are supportive and collaborative in growing enterprises. What a great training for young men and women to consider!
Here are a number of Peter Drucker’s Statements – they will enhance your life:
“Accept the fact that we have to treat almost anybody as a volunteer.“ – Peter Drucker
“Company cultures are like country cultures. Never try to change one. Try, instead, to work with what you’ve got.“ – Peter Drucker
“Effective leadership is not about making speeches or being liked; leadership is defined by results not attributes.“ – Peter Drucker
“Efficiency is doing better what is already being done.“ – Peter Drucker
“Efficiency is doing things right; effectiveness is doing the right things.“ – Peter Drucker
“Everybody has accepted by now that change is unavoidable. But that still implies that change is like death and taxes it should be postponed as long as possible and no change would be vastly preferable. But in a period of upheaval, such as the one we are living in, change is the norm.“ – Peter Drucker
“Follow effective action with quiet reflection. From the quiet reflection will come even more effective action.“ – Peter Drucker
“Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.“ – Peter Drucker
“Knowledge has to be improved, challenged, and increased constantly, or it vanishes.“ – Peter Drucker
“Management by objective works – if you know the objectives. Ninety percent of the time you don’t.“ – Peter Drucker
“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.“ – Peter Drucker
“Most of what we call management consists of making it difficult for people to get their work done.“ – Peter Drucker
