STRATEGY & Three Factors of a Good Strategy by Peter Drucker

Peter Drucker in his book Non-profit Management points to the three elements of a good strategy:

“To work systematically on the productivity of an institution, one needs a strategy …. The first factor is always the people. It’s not a matter of working harder; we learned that long ago. It’s a matter of working smarter, and above all, of placing people where they can really produce. The second universal factor is money. How do we get a little more out of the money that we have? It’s always scarce. And the third factor is time.” (Drucker, 1990)