TECH TALK: Peter Drucker: Managements Newton: Peter Drucker: Managements Newton: Writings (Part 2)

A quote from HBS Working Knowledge on decisions:

A decision has not been made until people know:

  • the name of the person accountable for carrying it out;
  • the deadline;
  • the names of the people who will be affected by the decision and therefore have to know about, understand, and approve itor at least not be strongly opposed to itand
  • the names of the people who have to be informed of the decision, even if they are not directly affected by it.

  • A few other quotes from Drucker:

    Management is doing things right; leadership is doing the right things.

    Quality in a product or service is not what the supplier puts in. It is what the customer gets out and is willing to pay for. A product is not quality because it is hard to make and costs a lot of money, as manufacturers typically believe. This is incompetence. Customers pay only for what is of use to them and gives them value. Nothing else constitutes quality.

    The most important thing in communication is to hear what isn’t being said.

    Innovation is the specific instrument of entrepreneurship… the act that endows resources with a new capacity to create wealth.

    We now accept the fact that learning is a lifelong process of keeping abreast of change. And the most pressing task is to teach people how to learn.

    Peter Drucker wrote in the Economist about the Next Society in 2001:

    The next society will be a knowledge society. Knowledge will be its key resource, and knowledge workers will be the dominant group in its workforce. Its three main characteristics will be:

  • Borderlessness, because knowledge travels even more effortlessly than money.
  • Upward mobility, available to everyone through easily acquired formal education.
  • The potential for failure as well as success. Anyone can acquire the means of production, ie, the knowledge required for the job, but not everyone can win.

    Together, those three characteristics will make the knowledge society a highly competitive one, for organisations and individuals alike. Information technology, although only one of many new features of the next society, is already having one hugely important effect: it is allowing knowledge to spread near-instantly, and making it accessible to everyone. Given the ease and speed at which information travels, every institution in the knowledge societynot only businesses, but also schools, universities, hospitals and increasingly government agencies toohas to be globally competitive, even though most organisations will continue to be local in their activities and in their markets. This is because the Internet will keep customers everywhere informed on what is available anywhere in the world, and at what price.

  • A few quotes from a Wall Street Journal article:

    Management is about human beings. Its task is to make people capable of joint performance, to make their strengths effective and their weaknesses irrelevant.

    True marketing starts outwith the customer, his demographics, his realities, his needs, his values. It does not ask, What do we want to sell? It asks, What does the customer want to buy.

    Peter Drucker leaves behind a wealth of work that will continue to inspire managers, leaders and entrepreneurs. He truly was managements Issac Newton.

    TECH TALK Peter Drucker+T

    Published by

    Rajesh Jain

    An Entrepreneur based in Mumbai, India.