What Business Are You In?

In Peter Drucker’s “Managing for Results,” he asked an important question.

What is our specific knowledge?

A concrete definition of the focus of a business sounds simple. The typical answers may include:

“We are in the transportation business.”

“Computer technology is what we do.”

“We are a restaurant chain.”

These general terms, while sounding simple, are not helpful in trying to convert them into operational meaning.

However, with repetition, the manager must attempt to define the knowledge of one’s own business by asking productive questions about the business and coming up with objective answers.

So, what business are you in? Moreover, what changes are you trying to make?

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