Peter Drucker, R.I.P.
Management guru Peter Drucker died at 95:
Peter F. Drucker, revered as the father of modern management for his numerous books and articles stressing innovation, entrepreneurship and strategies for dealing with a changing world, died Friday, a spokesman for Claremont Graduate University said.
In 2002, Drucker was awarded a Presidential Medal of Freedom. He has been called "the world's foremost pioneer of management theory" and a champion of concepts such as privatization, management by objective and decentralization. Business Week magazine hailed him as "the most enduring management thinker of our time," and Forbes magazine featured him on a 1997 cover under the headline: "Still the Youngest Mind."
In the early 1940s, General Motors invited Drucker to study its inner workings. That experience led to his first management book, "Concept of the Corporation," in 1946. He went on to write more than 30 books.
"He's very much an intellectual leader, and that's not common," said D. Quinn Mills, a professor at Harvard Business School who shared the podium at several conferences with Drucker. Quinn described Drucker's insights as rare.
After the big stock market decline of October 1987, Drucker said he had expected it, "and not for economic reasons, but for aesthetic and moral reasons."
"The last two years were just too disgusting a spectacle," Drucker said. "Pigs gorging themselves at the trough are always a disgusting spectacle, and you know it won't last long."
Drucker termed Wall Street brokers "a totally non-productive crowd which is out for a lot of easy money."
"When you reach the point where the traders make more money than investors, you know it's not going to last," he said.
"The average duration of a soap bubble is known. It's about 26 seconds," Drucker said. "Then the surface tension becomes too great and it begins to burst.
I first became familiar to him when Newt Gingrich put his The Effective Executive
on his reading list
Drucker's influence on corporate America is substantial. Unfortunately he led to the plethora of business guru-wannabes who fill bookstore shelves with mountains of buzzword-laden dreck.
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"Peter F. Drucker, Father of Modern Management, Dies at 95"
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Posted by Sean Hackbarth in Economics
at 06:47 AM
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