Thursday, May 14, 2009, 10:39 AM

Drucker 1974 Quote Defines 2009 in Law firms

This Drucker quote reminds me of today in the legal profession:

“It is the customer who determines what a business is…

What a business thinks it produces is not of first importance—especially not to the future of the business and to its success…What the customer thinks he or she is buying, what he or she considers value is decisive—it determines what a business is, what it produces, and whether it will prosper.

And what the customer buys and considers value is never a product. It is always utility, that is, what a product or service does for him. And what is value for the customer is…anything but obvious. The customer is the foundation of a business and keeps it in existence.”

Peter Drucker, 1974

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