Synopsis of on Profession of Management - Peter Drucker
On the Profession of Management is a compilation of Druckers work that has appeared in the Harvard Business Review over the last 30 years. Review editor Nan Stone has organized 13 articles into two sections. The first, The Managers Responsibilities, focuses on the burgeoning business realities that have serious implications on the present business scenario. Dynamic shifts in the current business theory, management practices and the ways to make effective decision are some of the key challenges faced by today’s managers. The second, The Executives World, focuses on - the history of management, the transformation from the traditional command-and-control model to knowledge-based organizations, emergence of information technology, and valuable lessons that can be learnt from non-profit organizations.
In the first part of the book, Business philosopher, Peter Drucker portrays the business model of today, and highlights the necessary interactions of managers with the model. According to Drucker every organization is based on some assumptions – these assumptions are about markets, organizations mission and core competencies. It is highly imperative that there is a strong fit between assumptions and actual reality. One of the prime reasons of current business failures hinges on the gap between the reality and perceived notions about market, environment, technology, core competencies on the organizations part. The success of a company depends upon a sound and realistic business theory that successfully addresses the reason a company is paid for, what it wants to accomplish, how it want to accomplish and while doing that in what manner it contributes to society. Drucker furthermore stresses that the theory of business must be understood throughout the organization and tested constantly to ensure that it stays valid for the business in the overhaul.
One of the common denominator in all managerial functions is making decisions – and not just decisions but the kind that
In the first part of the book, Business philosopher, Peter Drucker portrays the business model of today, and highlights the necessary interactions of managers with the model. According to Drucker every organization is based on some assumptions – these assumptions are about markets, organizations mission and core competencies. It is highly imperative that there is a strong fit between assumptions and actual reality. One of the prime reasons of current business failures hinges on the gap between the reality and perceived notions about market, environment, technology, core competencies on the organizations part. The success of a company depends upon a sound and realistic business theory that successfully addresses the reason a company is paid for, what it wants to accomplish, how it want to accomplish and while doing that in what manner it contributes to society. Drucker furthermore stresses that the theory of business must be understood throughout the organization and tested constantly to ensure that it stays valid for the business in the overhaul.
One of the common denominator in all managerial functions is making decisions – and not just decisions but the kind that