Businesses have only Two Functions...

Druckers’ wisdom applied to modern-day business design and entrepreneurship.

 

How do you know when you have product market fit and a tight value proposition? In his inimitable style, Peter Drucker puts it best: 

 

(The Essential Drucker) 

 

Still so relevant today, his quotes also apply to value chain analysis and finding opportunities to disrupt with (Digital) technology and innovation:

 

“The entrepreneur always searches for change, responds to it, and exploits it as an opportunity.” (Innovation and Entrepreneurship: Practice and Principles)

 

Drucker was born in 1909 and yet I feel would have been quite aligned with design thinking, already preaching one of its core tenets in 1970: 

“We are becoming aware that major questions regarding technology are not technical but human questions.”

 

And to cap it off, Drucker was also aligned to customer-centric thinking:

 

“Because the purpose of business is to create a customer, the business enterprise has two–and only two–basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.”

 

 #strategy #corporateinnovation #designthinking #growth #businessmodelinnovation #businessdesign

 

Please reload

Featured Posts

Rita Gunther McGrath: The End of Competitive Advantages Podcast Review

Episode Synopsis: In this episode, she discusses the evolution of companies buil...

The End of Competitive Advantage!

January 6, 2020

1/7
Please reload

Recent Posts
Please reload

Archive
Search By Tags
Please reload

24 Raffles Place,

#02-06, Clifford Centre,

Singapore 048621,

Singapore.