Reading anything by Peter Drucker--or about his theories of management--is a sobering experience. Drucker's attitude towards business can be summed up in the following:
-The purpose of business is to create a customer
-Profit maximization can be counter-productive. However, profit is critical to the success of society
-All organizations should practice abandonment
-If something isn't working, what are you going to do about it?
Architecture firms fall apart because they ignore the last two items on that list. Profit in architecture firms can be realized at a lower margin than organizations that have higher overhead, but if there is no money coming in, then a firm will eventually cease to exist.
That's all for today. Towers of Ilium is looking forward to the month of February. The usual topics will be covered.