This is the second part of a recording by AMACOM about Peter Drucker’s book, “Managing for Results.” In this segment the narrators discuss how to know what a business is, what it should be, and how to bridge the gap. They explain the importance of analyzing one’s entire business from the outside in order to make improvements, because deterioration will happen unless it is actively counteracted. The customer is paying for satisfaction rather than the product, therefore the company is in competition with other businesses that are extremely different. The risks of pursuing an opportunity should always be something the business can afford. There is no way to make sure the right opportunity is selected, but focus should be on maximizing opportunities and not on minimizing risks. They cover important questions about the business products, policies and perceptions, and customer habits. Who is not buying the products, and why? What do customers and non customers buy from others? What would force customers to do without the product? Where does existing knowledge need improvement? What are unseen opportunities because they seem outside of the industry? How can the business improve?
Drucker, Peter F. (Peter Ferdinand), 1909-2005 American Management Association Business Consumers Manufacturing industries Markets Marketing research Performance Perception Management Knowledge and learning Diagnosis Design Revenue Resource allocation Cost Profit Organization Economics Decision making Risk Diversification in industry Time Finance Sales Entrepreneurs Entrepreneurship Work Knowledge workers Research Education Motivation
Source
MiniDisc: amacom MFR pts 3/4; Box 89, minidiscs and floppies
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