Search

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


4 views0 comments

Recent Posts

See All

The best definition for product-market fit (2021)

Hard to define, even harder to find. Exploring your customer retention, defined by product and marketing data, through the lens of meaningful business metrics and the sophisticated, agile use of exper