The Two Basic Functions of Business
Amar Pandit , CFA , CFP 
Amar Pandit
A respected entrepreneur with 25+ years of Experience, Amar Pandit is the Founder of several companies that are making a Happy difference in the lives of people. He is currently the Founder of Happyness Factory, a world-class online investment & goal-based financial planning platform through which he aims to help every Indian family save and invest wisely. He is very passionate about spreading financial literacy and is the author of 4 bestselling books (+ 2 more to release in 2020), 8 Sketch Books, Board Game and 700 + columns.
September 1, 2023 | 2 Minute Read
In his 1973 book “The Practice of Management”, Peter Drucker wrote these golden words:
“The purpose of a business is to create and keep a customer. Because the purpose of business is to create a customer, the business enterprise has two and only two basic functions – marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.”
If you survey the leaders of most companies (irrespective of the size), chances are you will hear the following words – Sales, Finance, Production, Human Resources, Operations and Compliance. What do you think is missing?
Well, I have already given the answer – Marketing and Innovation.
What are the most important functions of your business?
How much time, money, energy and attention are you investing in these basic functions?
Similar Post
Nano Learning
The Edge Lies Here
Amar Pandit , CFA , CFP
We often obsess about goals or outcomes.
But the edge lies elsewhere.
Hint: I have mentioned this recently in one of my posts.
In his newsletter, Author James Clear wrote, ....
Read More
10 February, 2023 | 2 Minute Read
Nano Learning
The Difference between Growth and Scale
Amar Pandit , CFA , CFP
Many people confuse between Growth and Scale. There is a massive difference and understanding this will be critical to some of the decisions that you take.
As you grow, so does y ....
Read More
5 February, 2021 | 2 Minute Read
Nano Learning
Changing of the Guard
Amar Pandit , CFA , CFP
If you have been to London, chances are you have seen the “Changing of the Guard” ceremony at Buckingham Palace. Millions of people from around the world flock enthusiastically ....
Read More
14 October, 2022 | 2 Minute Read
0 Comments