A Quote by Friedrich August von Hayek

The central problem of management is how spontaneous interaction of people within a firm, each possessing only bits of knowledge, can bring about the competitive success that could only be achieved by the deliberate direction of a senior management that possesses the combined knowledge of all employees and contractors

Friedrich August von Hayek

Quote Topics

About Achieved Bits Bring Central Combined Competitive Contractors Could Deliberate Direction Each Employees Firm How Interaction Knowledge Management Only People Possesses Possessing Problem Senior Senior Management Spontaneous Success Within

Quote Author

Friedrich August von Hayek
Austrian - Economist
May 8, 1899 - March 23, 1992

There's no such thing as knowledge management; there are only knowledgeable people. Information only becomes knowledge in the hands of someone who knows what to do with it.

Peter Drucker

Knowledge management will never work until corporations realize it's not about how you capture knowledge but how you create and leverage it.

Etienne Wenger

There are only a few bits of absolute knowledge in the world, people can learn only one or two fundamental facts about each other, the rest is decoration and prejudice.

Katherine Anne Porter

Advocates of knowledge management as the next big thing have advanced the proposition that what companies need is more intellectual capital. While that is undeniably true, its only partly true. What those advocates are forgetting is that knowledge is only useful if you do something with it.

Jeffrey Pfeffer

Knowledge is theory. We should be thankful if action of management is based on theory. Knowledge has temporal spread. Information is not knowledge. The world is drowning in information but is slow in acquisition of knowledge. There is no substitute for knowledge.

W. Edwards Deming

The only beef Enron employees have with top management is that management did not inform employees of the collapse in time to allow them to get in on the swindle. If Enron executives had shouted, "Head for the hills!" the employees might have had time to sucker other Americans into buying wildly over-inflated Enron stock. Just because your boss is a criminal doesn't make you a hero.

Ann Coulter

Management did not emanate from nature. Management is not a tree: it's a television set. Somebody invented it. It doesn't mean it's going to work forever. Management is great. Traditional notions of management are great if you want compliance. But if you want engagement, self-direction works better.

Daniel H. Pink

That's the only interaction I have with people, those talking shows. Most of the people in my phone book are artists, management, producers, engineers. I don't ever call people with, "Hi! How are you?" I say, "How are you? Do you have that 16/30 ready? When do you want me to come into the studio?" That's what I do.

Henry Rollins

Our industry expertise (at KKR) enables the firm not only to make better investment choices but also to win the confidence of senior management and sellers, which has enabled us to purchase many companies on an exclusive basis.

Henry Kravis

Most people in AI, particularly the younger ones, now believe that if you want a system that has a lot of knowledge in, like an amount of knowledge that would take millions of bits to quantify, the only way to get a good system with all that knowledge in it is to make it learn it. You are not going to be able to put it in by hand.

Geoffrey Hinton

If we face recession, we should not lay off employees; the company should sacrifice a profit. It's management's risk and management's responsibility. Employees are not guilty; why should they suffer?

Akio Morita

Management, in the sense of employer, is merely the agent for the public, the stockholders and the employees. It is management's job to preserve the balance fairly between all these interests, that each may have his fair share without imperiling the continuity of the effort upon which the whole depends.

James F. Bell, III

The most important contribution management needs to make in the 21st century is ... to increase the productivity of knowledge work and the knowledge worker

Peter Drucker

Employees who are controlled cannot respond caringly, you need superior knowledge and real leadership, not management. Because of this we specifically developed a selection process for leaders; we don't hire managers.

Horst Schulze

The most important, and indeed the truly unique, contribution of management in the 20th century was the fifty-fold increase in the productivity of the MANUAL WORKER in manufacturing. The most important contribution management needs to make in the 21st century is similarly to increase the productivity of KNOWLEDGE WORK and the KNOWLEDGE WORKER.

Peter Drucker

Time management is really personal management, life management. and management of yourself.