Definitive Drucker

8/12/2019 Definitive Drucker

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DEFI NITIVE DRUCKER

BY: - Eli zabeth H aas Edersheim

ABOUT THE AUTHOR

El izabeth H ass Edersheim is a strategic consultant who works both with fortune 500

companies and private equity investors. Prior to founding her own firm, New York

Consulting Partners, Edersheim was one of the first female partners at McKinsey &

Company. Her previous book, McKinseys Marvin Bower, illustrates the business life and

ideals of the founder of McKinsey, her mentor, who was a close friend and peer of Dr.

Drucker. Aside from her numerous publications, Dr. Haas Edersheim has provided expert

testimony to the U.S. Congress on industrial Networking and Industrial Manufacturingpolicy. She holds a Ph. D. in Operations Research and Industrial Engineering from the

Massachusetts Institute of Technology.

CONTENTS

INTRODUCTIONIDEA OF WRITING A BOOK ABOUT Dr. DRUCKER

ONE | DOING BUSINESS IN THE LEGO WORLD

TWO | THE CUSTOMER: JOINED AT THE HIP

THREE | INNOVATION AND ABANDONMENT

FOUR | COLLABORATION AND ORCHESTRATION

FIVE | PEOPLE AND KNOWLEDGE

SIX | DECISION MAKING: THE CHASIS THAT HOLDS THE WHOLE TOGETHER

SEVEN | THE TWENTY-FIRST-CENTURY-CEO

PREFACE

We need a new theory of management. The assumptions built into business today are not

accurate.-Peter Drucker

For sixteen months before his death, Elizabeth Haas Edersheim was given unprecedented

access to Peter Drucker, widely regarded as the father of modern management. At Drucker's

request, Edersheim, a respected management thinker in her own right, spoke with him about

the development of modern business throughout his life-and how it continues to grow and

change at an ever-increasing rate.


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The Definitive Druckercaptures his visionary management concepts, applies them to the key

business risks and opportunities of the coming decades, and imparts Drucker's views on

current business practices, economic changes, and trends-many of which he first predicted

decades ago. It also sheds light onto issues such as why so many leaders fail, the fragility of

our economic systems, and the new role of the CEO.

Drucker's penetrating questions, posed to those seeking his advice, helped business,

corporate, and political leaders throughout the 20th century to see their work in a new

perspective, and create phenomenal innovation. Edersheim's extensive interviews with some

of these luminaries, including Warren Bennis, Ram Charan, Bill Gates, George Gallup, Jr.

and A.G. Lafley offer compelling commentary on Drucker's vast influence.

Delivering keen analysis and revealing insights into business, The Definitive Drucker is a

celebration of this extraordinary man and his life's work, as well as a unique opportunity to

learn from Drucker's final business lessons how to strategize, compete, and triumph in any

market.

THEME

Drucker's insights are divided into five main themes that the modern organization needs to, as

Drucker would say, create tomorrow by

Connecting with customers Innovating without abandoning what works Developing lasting partnerships Creating and retaining knowledge workers Establishing disciplined decision making

IMPORTANT CONTENTS

Twenty-first century realities Peter Druckersliberating impact

Drucker Ideas Druckers declarations Drucker Philosophy-o Efficiency vs. EffectivenessOn MoneyMoney follows knowledge

Money is not a problem

The problem is leadership and direction

o On Managementwhat is our business?


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Who is the customer?

What does the customer consider value?

Management By Objectives

o On KnowledgeLearning is a life long processMake knowledge productive

Actionable Knowledge

o On the IndividualKnow your strengthsWhat needs to be done?

What do I want to be remembered for?

COVERAGE

Goalso What Are Our Goals?

Structure

o How Should The be approached and treated as? Barriers between the Private-Sector and the Academic World Dell Example Example from Developing Countries Identify your Front Room and Outsource the Rest Myelin Repair Foundation Approach Linux Example Toshiba Example


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MY PERSONAL REACTIONS

I enjoyed this book. The author shared her experience of going to Peter Drucker's home over

a period of time to interview him and recounts having to contend with Peter's wife and the 2

hour limitations on his time thru her. The book presents his theories of business managementand real life examples how companies employed them and where certain companies did not

employ them.

The insights are carefully organized within seven chapters, I appreciate the fact that she

permits an informal, but lively narrative that seems most appropriate to Drucker's own style

of communication. She captures and sustains a conversational tone for his remarks.

POINTS I LOVED IN THE BOOK

The essence of Drucker's work into seven readable and enlightening chapters. The book is beneficial no matter how the business world changes. His theories of business management. The real life examples how companies employed them and where certain companiesdid not employ them.

Facts and guidance to succeed in today's dynamic world.

POINTS I HATED IN THE BOOK

Emphasises more onprofit management as pursued by very large cap companies andless on mid-cap and small-cap companies.

Dr. Druckers idea about the society as a whole is not mentioned. Talks very less about Actionable Knowledge which is highly necessary forapplication of ideas and strategies in todays competitive world.

Emphasises too much on business profit mantras rather than wealth maximization.

COMMENTS ON AUTHERS STYLE

Elizabeth Hass Edersheim has a realistic approach to her findings.

Even when she wanted to observe the Starbucks stores, from a logistic perspective she rode

in the starbucks delivery truck through downtown Manhatten. This shows her level of

involvement in her duties.

Her approach was not so different from the above when she was interviewing Dr.

Peter Drucker. She spent 16-18 months with Dr. Drucker and his wife to know everythingpossible about Dr. druckers ideas and visions.


5/5

REASONS WHY THE BOOK IS WORTH READING

It exploresthe insights that have shaped management thinking from the 20 thcenturyto the 21stcentury business world.

It briefs on Drucker's thinking on various management topics. It focuses on the challenges managers face today. It contains information Edersheim obtained through interviews during the last six

months of his life.

BY- SHEETHAL KUMAR Y N

USN1MS12MBA49

4TH

SEMESTER (MARKETING)

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Definitive Drucker