Peter Drucker stated that since it is the customer who defines value, the business enterprise has only two business functions: marketing and innovation.

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Peter Drucker believed that the customer is the one who ultimately defines value, and therefore the two key functions of a business enterprise are marketing (understanding and meeting the needs and wants of customers) and innovation (developing new products, services or processes that provide value to customers).

Peter Drucker Stated That Since It Is the Customer Who