Peter Drucker - "the man who invented management"

Do you still remember during our first class SYS752 with Prof Mardziah, she mentioned an economist named Peter Drucker. Peter Drucker was born in Vienna, Austria in 1909. He got a doctorate in public and international law from Frankfurt University in Germany. He is a retired professor, speaker, consultant, social ecologist and author of 41 published books, which has been translated into 37 languages. He had wrote a regular column in the Wall Street Journal for 20 years. He has published numerous articles in professional journals and publications including The Economist, Harvard Business Review, The Atlantic Monthly, Financial Times, Foreign Affairs, Fortune, Inc.,and Harpers. The BusinessWeek magazine called him as "the man who invented management" and the greatest management thinker of the last century” by Jack Welch. Here are few of his quotes that I think will aspire our mind towards entrepreneurship and innovation:

 “Entrepreneurship rests on a theory of economy and society. The theory sees change as normal and indeed as healthy. And it sees the major task in society—and especially in the economy—as doing something different rather than doing better what is already being done. That is basically what Say, two hundred years ago, meant when he coined the term entrepreneur. It was intended as a manifesto and as a declaration of dissent: the entrepreneur upsets and disorganizes. As Joseph Schumpeter formulated it, his task is creative destruction.”

 “The three most charismatic leaders in this century inflicted more suffering on the human race than almost any trio in history: Hitler, Stalin, and Mao. What matters is not the leader’s charisma. What matters is the leader’s mission.”

 “Innovation is the specific instrument of entrepreneurship… the act that endows resources with a new capacity to create wealth.”

 “The entrepreneur always searches for change, responds to it, and exploits it as an opportunity.”

“The best way to predict your future is to create it.”

 “If you want something new, you have to stop doing something old.”

 “Knowledge has to be improved, challenged, and increased constantly, or it vanishes.”

“People who don’t take risks generally make about two big mistakes a year. People who do take risks generally make about two big mistakes a year.”

 [Peter Drucker]