Peter Drucker on Other People’s Money
on Tuesday, January 28, 2014Peter Drucker Money Quotation saying the definition of business is simply using money from other people toward a commercial end. Peter Drucker said:
“Business, that’s easily defined – it’s other people’s money” — Peter Drucker
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In this quote, Peter Drucker is providing a tongue-in-cheek definition of business. When he says business is “other people’s money”, Drucker seems to be suggesting that from the perspective of a businessperson, business essentially involves managing and utilizing financial capital that has been provided by others – such as investors, shareholders, customers etc.
The quote humorously implies that running a business means taking responsibility for and putting to work funds that have originated from sources outside of one’s own personal wealth. So in summary, Drucker appears to be jokingly reducing business down to its basic element of leveraging capital from external sources