DWD20200331

David's Time With Peter F. Drucker 2020.3.31 But even for a business that makes its living making goods for small children, the collapsing birthrate may be an opportunity. It is conceivable that having fewer children means that the child becomes more and more precious and that a larger share of the disposable income is spent on it. The birthrate collapse has tremendous political and social implications that we cannot even guess at today. But it surely will also have tremendous economic and business implications——and some of those can already be explored, some of them can already be tested. Above all, any strategy, that is, any commitment of present resources to future expectations——and this, to repeat, is what a strategy means——has to start out with demographics and, above all, with the collapsing birthrate in the developed world. Of all developments, it is the most spectacular, the most unexpected and one that has no precedent whatever. ——《Management Challenges for the 21st Century · Chapter2》(Peter F.Drucker,1999)