Managers, finally, through their rhetoric, make it impossible for the public to understand economic reality. This violates the requirement that managers, being leaders, not knowingly do harm. This is particularly true of the US but also of Western Europe. For in the West, managers still talk constantly of the profic motive. And they still define the goal of their business as profit maximization. They do not stress the objective function of profit. They do not talk of risks - or very rarely. They do not stress the need for capital. They almost never even mention the cost of capital, let alone that a business has to produce enough profit to obtain the capital it needs at a minimal cost.
The Essential Drucker
Peter F. Drucker
Collins Business (HarperCollins)
Peter F. Drucker
Collins Business (HarperCollins)
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