11.14.2005

MISC: Druckerism

Peter Drucker, considered Greatest Management Guru, dies at 95.

Bloomberg -- ..."He makes you think,'' Jack Welch, then-chairman of General Electric Co., told the magazine, while Intel co-founder Andrew Grove declared, ``Drucker is a hero of mine. He writes and thinks with exquisite clarity -- a standout among a bunch of muddled fad mongers."...

Drucker came to the U.S. in 1937 as a freelance journalist. He had worked briefly in banking and held a Ph.D in international and public law from Frankfurt University. Just two years later, he won acclaim for his first book, "The End of Economic Man," which skewered fascism and was reviewed by Winston Churchill in the Times Literary Supplement in London... Drucker, who became a naturalized U.S. citizen in 1943, taught at Sarah Lawrence College, Bennington College and New York University before joining the faculty of the Claremont Graduate School in California in 1972. The School of Management there took his name in 1987... Drucker had vowed in 1932 to leave Germany if Hitler came to power. He acted on that promise in early 1933 after he watched a Nazi official take over a university faculty meeting to fire Jewish professors and bar them from the campus. Drucker was sickened by most colleagues' timidity, and he resigned from his newspaper, even though a Nazi party representative offered to promote him...

Some of my favorite Druckerisms

  • Efficiency is doing things right; effectiveness is doing the right things.
    • Management is doing things right; leadership is doing the right things.
    • Effective leadership is not about making speeches or being liked; leadership is defined by results not attributes.
    • Rank does not confer privilege or give power. It imposes responsibility.
  • The best way to predict the future is to create it.
    • The entrepreneur always searches for change, responds to it, and exploits it as an opportunity.
  • The most important thing in communication is hearing what isn't said.
  • The purpose of a business is to create a customer.
  • knowledge workers don't produce a thing. They produce ideas, information, concepts. Therefore he or she must concentrate on who will use these as outputs and work with them to that end.
  • I'm not a bit concerned who is right. That's why I don't belong in academia.

Peter Drucker is concerned with what works.

Category: C++ Quant > Random Walk

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