Peter Drucker Peter Drucker - one of the world's most respected thinkers on management and society. By Mike Warren Peter Drucker had a great way with words. He distilled meaningful concepts intoshort phrases more effectively than any other management guru. The concepts and philosophies he developed have shaped modern management thinking. He wrote over 30 books and articles about innovation,entrepreneurship and strategies for dealing with a changing world; "Because the purpose of business is to create and keep a customer, the business enterprise has two-and only two--basic functions:marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business." Drucker was born in Vienna, and educated thereand in England. He received a doctorate in international law while working as a newspaper reporter in Frankfurt, Germany. He remained in Germany until 1933, when one of his essays was banned by theNazi regime. For a time, he worked as an economist for a bank in London, and then moved to the United States in 1937. In the early 1940s, General Motors invited Drucker to study its inner workings. Thatexperience led to his 1946 management book "Concept of the Corporation." For many years GM ignored nearly every recommendation in the book even though its own executives had commissioned it. Thisseminal study introduced the concept of decentralisation as a principle of organisation, in contrast to the practice of command and control in business. Drucker reported he was told that any manager foundwith a copy would be fired. The ideas in this book however, launched the field of management and essentially created the field of consulting. In "The Practice of Management,(1954)" Drucker posedthree now-classic business questions: • What is our business? • Who is our customer? • What does our customer consider valuable? He coined the terms "knowledge workers" and "management by objectives."...
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