A Quote by Peter Drucker
Because its purpose is to create a customer, the business enterprise has two - and only these two — basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are 'costs'.
Related Quotes
Business has only two basic functions - marketing and innovation.
Marketing and innovation produce results; all the rest are costs.
Business has only two functions - marketing and innovation.
Business only has two functions - innovation and marketing.
There are only two things in a business that make money - innovation and marketing, everything else is cost.
Mobile communications have two functions: as a safety net, and as a marketing tool. I think it'd be foolish to not carry one for safety sake. Using one for marketing is an optional activity, and I've generally stayed away from extensively using one for this purpose because it's a distraction.
We have not had a ton of innovation and marketing in the concert industry, much like the record industry. We have been a fairly old-school business compared to Coca-Cola and the big packaging/marketing companies.
I found marketing to be highly descriptive and prescriptive, without much of a foundation in deep research. I brought in economics, organization theory, mathematics, and social psychology in my first edition of Marketing Management in 1967. Today Marketing Management is in its 15th edition and remains the world's leading textbook on marketing in MBA programs. Subsequently, I wrote two more textbooks, Principles of Marketing and Marketing: an Introduction.
The best system I've ever seen for intellectual distribution is the direct selling business-also known as one-to-one marketing, network marketing, referral marketing or relationship marketing.
Getting global innovation projects right is really important as they create competitive advantage two ways. When the knowledge for an innovation is from different sites around the world, it's very much more difficult for competitors to copy these innovation - they'd have to access the same knowledge from the same places. Secondly, costs and time to market can be significantly reduced leading to first mover advantage through parallel development in global projects.
The basic idea that marketing is wrong at its core is one of the main reasons why innovation seems blocked and unpredictable.
Business enterprise is an organ of society. There is only one valid definition of business purpose: to create a customer.
As we continue to drive the benefits of integrating our enterprise skills, capabilities, and experience - what we call operating as 'One Boeing' - we will find new and better ways to engage and inspire employees, deliver innovation that drives customer success, and produce results to fuel future growth and prosperity for all our stakeholders.
The world of the consumer, the sheer innovation and dynamism of our culture has never been easy for marketing to keep up with, but now these are suddenly faster and much more powerful. We need a new idea and practice of marketing and of the brand.
The single most important thing to remember about any enterprise is that results exist only on the outside.The result of a business is a satisfied customer. The result of a hospital is a satisfied patient. The result of a school is a student who has learned something and puts it to work ten years later. Inside an enterprise there are only costs.
There's so much innovation going on, and there are lots of people funding that innovation, but there's very little innovation on that infrastructure for innovation itself, so we like to do that ourselves to help companies create more tech companies.
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