The Definitive Drucker
Challenges For Tomorrow's Executives
Number of pages: 289
Publisher: McGraw-Hill Education
BBB Library: Operations Management
ISBN: 9780071472333
Editorial Review
Management guru Peter Drucker widely regarded as the father of modern management. During his remarkable life and career, he inspired countless business and political leaders. Drucker's key business tents include: Serve the customer: The purpose of a business is to create and serve a customer. Act, don't just talk: Management takes hard work, sweat and practice. Plans are only good intentions unless they immediately degenerate into hard work. Ask the right questions: Drucker made complex matters simple by asking probing questions to drill down to the essential issues. Bring the outside in: Corporations tend to be insular and self-involved. The leader has a duty to make certain that people inside the company focus on the outside world, where the customers and competitors are. Focus on people: Drucker treated others with respect, and he lived the clich´e that people are a business's most crucial asset. He wrote: management is about human beings. Its task is to make people capable of joint performance, to make their strengths effective and their weaknesses irrelevant. Results are what matter: Drucker's favorite expressions included, don't confuse motion with progress.
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Wisdom to Share
Creating a healthy environment to support these decisions has become more critical, and the importance of intuition and judgment has never been greater.
The decision mechanisms and values of a corporation support or impair the right decision, be it the research chemist's choice of projects or the logistics manager's schedule of deliveries.
Innovation demands the willingness to take risks, and the boldness and confidence to cut ties to your previous successes.
Managers must examine their target markets and determine which customer desires are unsatisfied and then assess whether they can or should provide this value.
Value must be understood from the customers' perspective, and the only way to do it is to ask them directly.
The essence of a business's identity lies in the value it provides to its customers, what that value is remains the most important question a company can ask itself.
The user, the buyer, and the influencer are linked together as never before, and they sway other buyers.
The customer is no longer a passive receiver of products but is engaged in designing and refining them.
Every marketing analysis needs to start by assuming that the business doesn't know its customers and needs to find out who they are.
For one thing, the real customer is not necessarily the one who pays for the product or service, but the one who makes the buying decision.
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Companies focused on competitors are focused on the past, not a future full of technological and demographic opportunities.
There are no competitors, just better solutions and more choices that can be put together in more ways.
Business as we know it is disappearing. Companies aren't selling products; they are selling experience.
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