by Calculated Risk on 11/11/2005 08:05:00 PM
Friday, November 11, 2005
Drucker on Bubbles
Management Guru Peter Drucker, 95, Dies
Innovation, listening to your customers, taking care of your employees - it all seems so obvious today. It wasn't so obvious 60 years ago. Here are a few quotes from Drucker:
On bubbles:
"Pigs gorging themselves at the trough are always a disgusting spectacle, and you know it won't last long."
"The average duration of a soap bubble is known. It's about 26 seconds," Drucker said. "Then the surface tension becomes too great and it begins to burst.On metrics:
"For speculative crazes, it's about 18 months."
"Checking the results of a decision against its expectations shows executives what their strengths are, where they need to improve, and where they lack knowledge or information."On Leadership:
"Effective leadership is not about making speeches or being liked; leadership is defined by results not attributes."
"Executives owe it to the organization and to their fellow workers not to tolerate nonperforming individuals in important jobs."