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Peter Druckers Contribution To Theory of Management

Peter Drucker was an influential management theorist known as the "Father of Modern Management." He advocated for decentralization of power in workplaces and flexible, collaborative work environments. Drucker believed that both management and leadership were important, with management focusing on doing things correctly and leadership focusing on doing the right things. He developed theories around knowledge workers, management by objectives, and decentralizing decision-making across organizations.

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108 views5 pages

Peter Druckers Contribution To Theory of Management

Peter Drucker was an influential management theorist known as the "Father of Modern Management." He advocated for decentralization of power in workplaces and flexible, collaborative work environments. Drucker believed that both management and leadership were important, with management focusing on doing things correctly and leadership focusing on doing the right things. He developed theories around knowledge workers, management by objectives, and decentralizing decision-making across organizations.

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Tejas Yadav
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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PETER DRUCKERS CONTRIBUTION TO THEORY OF MANAGEMENT :

Peter Drucker, also known as the Father of Modern Management Theory, coined
leadership terms and strategies that are still used today. He advocated for a more flexible,
collaborative workplace and the delegation of power across the board.

According to Drucker, "management is doing things right; leadership is doing the


right things." Unlike many early management theorists, Drucker thought that
subordinates should have the opportunity to take risks, learn and grow in the workplace.

Drucker's management theory embodies many modern concepts, including:

 Decentralization

Drucker was focused on decentralizing management in the workplace. He wanted all


employees to feel valued and empowered, like their work and voice mattered. He
believed in assigning tasks that inspire workers, and bringing supervisors and their
subordinates together to achieve common, company goals.

 Knowledge work

Knowledge workers are those whose jobs require handling or using information, such as
engineers or analysts. Drucker placed high value on workers who solved problems and
thought creatively. He wanted to cultivate a culture of employees who could provide
insight and ideas.

Drucker also correctly forecasted a decrease in blue-collar workers: Today, there is an


increasing number of knowledge workers in the business world.

 Management by objectives
Drucker conceptualized "Management by Objectives" (MBO), a process that encourages
employees of all levels to work together. Each worker has an equal say, sharing their own
insight and opinions to reach common ground. From there, teams establish shared goals
and delegate tasks according to skillsets and interests.

There are five steps of MBO:

1. Review goals

2. Set objectives

3. Monitor progress

4. Evaluate performance

5. Reward employees

 S.M.A.R.T.

In his MBO practice, Drucker used S.M.A.R.T., a process coined by George T. Doran,
that increases efficiency in work-related tasks. The acronym calls for each objective to
be:

Specific

Measurable

Achievable

Relevant

Time-Oriented

LIST OF BOOKS :
1939: The End of Economic Man (New York: The John Day Company)

1942: The Future of Industrial Man (New York: The John Day Company)

1946: Concept of the Corporation (New York: The John Day Company)

1950: The New Society (New York: Harper & Brothers)

1954: The Practice of Management (New York: Harper & Brothers)

1957: America's Next Twenty Years (New York: Harper & Brothers)

1959: The Landmarks of Tomorrow (New York: Harper & Brothers)

1964: Managing for Results (New York: Harper & Row)

1967: The Effective Executive (New York: Harper & Row)

1969: The Age of Discontinuity (New York: Harper & Row)

1970: Technology, Management and Society (New York: Harper & Row)

1971: The New Markets and Other Essays (London: William Heinemann Ltd.)

1971: Men, Ideas and Politics (New York: Harper & Row)

1971: Drucker on Management (London: Management Publications Limited)

1973: Management: Tasks, Responsibilities, Practices' (New York: Harper & Row)

1976: The Unseen Revolution: How Pension Fund Socialism Came to America (New
York: Harper & Row)

1977: People and Performance: The Best of Peter Drucker on Management (New York:
Harper's College Press)

1978: Adventures of a Bystander (New York: Harper & Row)

1980: Managing in Turbulent Times (New York: Harper & Row)

1981: Toward the Next Economics and Other Essays (New York: Harper & Row)
1982: The Changing World of Executive (New York: Harper & Row)

1982: The Last of All Possible Worlds (New York: Harper & Row)

1984: The Temptation to Do Good (London: William Heinemann Ltd.)

1985: Innovation and Entrepreneurship (New York: Harper & Row)

1986: The Frontiers of Management: Where Tomorrow's Decisions are Being Shaped
Today (New York: Truman Talley Books/E.D. Dutton)

1989: The New Realities: in Government and Politics, in Economics and Business, in
Society and World View (New York: Harper & Row)

1990: Managing the Nonprofit Organization: Practices and Principles (New York: Harper
Collins)

1992: Managing for the Future (New York: Harper Collins)

1993: The Ecological Vision (New Brunswick, NJ and London: Transaction Publishers)

1993: Post-Capitalist Society (New York: HarperCollins)

1995: Managing in a Time of Great Change (New York: Truman Talley Books/Dutton)

1997: Drucker on Asia: A Dialogue between Peter Drucker and Isao Nakauchi (Tokyo:
Diamond Inc.)

1998: Peter Drucker on the Profession of Management (Boston: Harvard Business School
Publishing)

1999: Management Challenges for 21st Century (New York: Harper Business)

1999: Managing Oneself (Boston: Harvard Business School Publishing) [published 2008
from article in Harvard Business Review]

2001: The Essential Drucker (New York: Harper Business)

2002: Managing in the Next Society (New York: Truman Talley Books/St. Martin's Press)
2002: A Functioning Society (New Brunswick, NJ and London: Transaction Publishers)

2004: The Daily Drucker (New York: Harper Business)

2008 (posthumous): The Five Most Important Questions (San Francisco: Jossey-Bass)

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