Born on November 19, 1909, in Vienna. Drucker was educated in Austria and England and earned a doctorate from Frankfurt University in 1931. Dr. Drucker died in November 2005, at the age of 95, at his home in Claremont, California.
Key Contributions
In the 1940s - Introduced the idea of decentralization. In the 1950s -- He was the first to state, that workers should be treated as assets, not as liabilities. In the 1950s -- He originated the view of the business as a human community.
In the 1960s -- He argued long before others -- for the importance of substance over style, for institutionalized practices over charismatic, cult leaders. In the 1970s He wrote about the contribution of knowledge workers.
Management As A Practice
According to Drucker, management has two important functions: innovation & marketing. Management is more of a practice and is always goal oriented. Innovation is equally important during the development of new product.
Cont·d
Bureaucratic management suppress the innovative spirit and initiative among the people in the organization. He considers modern organizations are knowledge based organizations.
Functions Of Management
Actions of management should contribute to:
Achievement of purpose & mission of the institution. Make the work productive & the worker achieving. Effective management of social responsibilities.
Objective setting
He has said that objectives should be set for all the KRA s (Key Result Area) of business. He introduced new tool popularly known as MBO (Management By Objectives).
Orientation towards justice
Mr. Drucker could visualize the future trends that would affect society. He describes the present age as age of discontinuity.
Federalism
Here it means centralized control in a decentralized structure.