Peter Ferdinand Drucker (November 19, 1909 – November 11, 2005) was a writer, management consultant, and self-described “social ecologist.” His books and scholarly and popular articles explored how humans are organized across the business, government and the nonprofit sectors of society. His writings have predicted many of the major developments of the late twentieth century, including privatization and decentralization; the rise of Japan to economic world power; the decisive importance of marketing; and the emergence of the information society with its necessity of lifelong learning. In 1959, Drucker coined the term “knowledge worker” and later in his life considered knowledge work productivity to be the next frontier of management.
The leading management thinker describes seven personal experiences that taught him how to grow, change, and age.
By Peter F. Drucker. Read more…
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My Life as a Knowledge Worker: Peter Drucker
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Case Study on Sustainability Performance Management (SPM)
Sustainability is firmly on the corporate agenda – although as with many business challenges, committing to a course of action often proves difficult. Supporters of the traditional capitalist model argue that companies exist to create value for their owners – and have no duty to make up for the fact that those owners may have a short-term or self-interested focus. That is the purpose of regulation. Others believe, like Peter Drucker, that the purpose of a company is to serve society.
Such profound philosophical differences seem hard to reconcile. But there is common ground, which is to focus on the value that sustainability can add to a business and society – its contribution to the ‘triple bottom line’ of profit, planet and people. CIMA asked Accenture to compile this report to provide specific recommendations for CFOs and their finance functions on how to unlock the value that sustainability can deliver to their businesses.Accountants are key players in delivering that value – both because their skills bring robustness to sustainability performance management and because they are well placed to support the integration of sustainability across the business.
Accountants are very influential. They can encourage the board and senior management to commit to sustainability, not only by providing reassurance and proof that it can be measured and monitored, but also by advising that sustainability can be and should be taken into account clearly and consistently in day to day decision-making. Click here to read more…
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Case Study on A New Approach To MBO Updating A Time-Honored Technique
Management by Objectives (MBO) has been one of the most successful approaches to management to date. The fact that MBO has survived for about twenty years indicates that it is more than just a fashionable technique. What is often overlooked, however, is that MBO has changed considerably over the years. There are still some who think of MBO as an appraisal tool. But, if this narrow, limited view of MBO is taken, then MBO would indeed have serious limitations. On the other hand, if MBO becomes a way of managing, many of the undesirable consequences encountered in appraisal can be avoided.
The term “Management by Objectives” was introduced and popularized by Peter Drucker, who stated that, “Objectives are needed in every area where performance and results directly and vitally affect the survival and prosperity of the business.” In addition, he emphasized the importance of participative goal setting, selfcontrol, and self-evaluation. But Drucker’s idea of MBO was not adopted in its entirety, and MBO was not practiced as a way of managing. Rather, selected aspects were taken and applied to performance appraisal. Click here to read more…
Filed under General Management
Case Study on India- An Automobile Hub in the Making
Abstract:
Forty years ago when Peter Drucker phrased the auto industry as the ‘industry of industries’, little did the carmakers know about outsourcing and technology sharing. Now, when most of the markets are brimming with competition from across the globe, carmakers had no option but to keep their costs low. In this context, Asia first emerged as a manufacturing hub with countries like India, South Korea and China becoming outsourcing destinations.
The Indian context is particularly striking as the country opened its doors to foreign automakers only in 1992. After a little more than a decade, Indian automobile industry stood as a shining example of producing low-cost cars with international quality norms. From Daimler Chrysler to Ford to Hyundai, most of the global carmakers today see India as the global hub of car manufacturing and component outsourcing. Even indigenous carmakers like Tata Motors and Mahindra & Mahindra have made inroads into the global markets. Recently, Tata Motors reached an agreement with MG Rover of Britain to supply 100,000 of its ‘Tata Indica’ to Europe. To refer this case study click here India- An Automobile Hub in the Making
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