Peter F. Drucker Boxed Set (8 Books) (The Drucker Library)

CHAPTER THIRTY-SEVEN

The 10 Rules of Effective Research

SOME BUSINESSES—NOT VERY MANY—get a fiftyfold, or even a hundredfold, return on the research dollar. Many more get little or nothing. The key to success is not knowledge, intelligence, or hard work—and least of all, luck. It is following the 10 Rules of Effective Research.

1. Every new product, processor, or service begins to become obsolete on the day it first breaks even.

2. Thus, your being the one who makes your product, process, or service obsolete is the only way to prevent your competitor from doing so.

One major American company that has long understood and accepted this is Du Pont ...