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The Contributions of Peter Drucker to Management Theories and Practice - Essay Example

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This essay is written with the objective of discussing Peter Drucker’s contributions to management theory and practice. The discourse would critically appraise his ideas of the following endeavours: marketing, performance management, the knowledge economy, managing change and post-industrialization…
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Download file to see previous pages Born in Vienna, Austria in 1909, Peter Drucker was exposed to a regular gathering of intellectuals, scientists and high government officials who all converge in weekly soirees at their home in Dobling. According to his biography in the official website, Peter regarded those meetings as his initiation to education (Biography, n.d., para. 1). He graduated with a “doctorate in public and international law at Frankfurt University in Germany” (Peter Drucker, n.d., para. 1). Drucker assumed a variety of roles as a journalist, writer, consultant, professor, a social ecologist, among others. His legendary contributions in the various fields of endeavour earned him the titles: “the "doyen of business consultants" and the "the man who invented management" (The New York Times)” (Peter Drucker, n.d., para. 2). His published books numbered about 41 in subjects such as management, economics, society and politics. As a consultant, he created professional training programs and even online courses on management strategies and business (Biography, n.d., para. 1). He was known to have a close business relationship with Jack Welch, former CEO of General Electrics. His inputs and keen business acumen contributed to the organization’s exemplary success. From among the most significant contributions of Peter Drucker, the concept of management by objectives which first emerged in his book, ‘The Practice of Management’ in 1954 (Management by Objectives, n.d. 2). As defined, management by objectives (MBO) “is a systematic and organized approach that allows management to focus on achievable goals and to attain the best possible results from achievable resources”. ...Download file to see next pagesRead More
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