THOSE OF you who are, like me, only dimly familiar
with the writings of Peter Drucker will at least know
one of his most famous pronouncements: “There
are only two things in a business that make money –
innovation and marketing. Everything else is a cost.”
I have probably quoted this assertion once or twice
but, to be frank, I had never used it very confidently.
It always seemed so contrary to the prevailing
business culture (where the highest end of business
seems to be cost cutting) that it seemed more like a
deliberate provocation than a seriously held point of
view. But, as I shall explain, it is a serious claim.