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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.”

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