Able Quote by Peter Drucker
“There are companies that are good at improving what they're already doing. There are companies that are good at extending what they're doing. And finally there are companies that are good at innovation. Every large company has to be able to do all three - improve, extend, and innovate - simultaneously.”
About This Quote
Source Book: The Effective Executive by Peter Drucker, 1966
Successful large firms must simultaneously refine existing operations, broaden their scope, and create truly new offerings.
In simple terms: Big companies need to improve, expand, and innovate at the same time.
Key Takeaway
Balance refinement, growth, and invention.
Themes
business strategy
innovation
growth
efficiency
Mood
analytical
strategic
pragmatic
Type
business
leadership
When to use this quote
- product development
- market expansion
- process optimization
- R&D management
Key Concepts
continuous improvement
strategic extension
disruptive innovation
Questions to Reflect On
- How can a company nurture all three capabilities?
- What structures support simultaneous improvement and innovation?
A Different Perspective
Innovation can be stifled by bureaucracy; balancing all three is challenging.
