...Copyright © 2013 by William A. Cohen. All rights reserved. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. ISBN: 978-0-07-177863-3 MHID: 0-07-177863-2 The material in this eBook also appears in the print version of this title: ISBN: 978-0-07177862-6, MHID: 0-07-177862-4. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. To contact a representative please e-mail us at bulksales@mcgraw-hill.com. TERMS OF USE This is a copyrighted work and The McGraw-Hill Companies, Inc. (“McGraw-Hill”) and its licensors reserve all rights in and to the work. Use of this work is subject to these terms. Except as permitted under the Copyright Act of 1976 and the right to store and retrieve one copy of the work, you may not decompile, disassemble, reverse engineer, reproduce, modify, create derivative works based upon, transmit, distribute,...
Words: 87486 - Pages: 350
... A Class with Drucker The Lost Lessons of the World’s Greatest Management Teacher BY WILLIAM A. COHEN, PhD A M E R I C A N NEW YORK I M A N A G E M E N T I A S S O C I A T I O N I AT L A N TA I I B R U S SE L S I CHICAGO I MEXICO CITY I SAN FRANCISCO D. C. S H A N G H A I T O K Y O T O R O N T O W A S H I N G T O N, Special discounts on bulk quantities of AMACOM books are available to corporations, professional associations, and other organizations. For details, contact Special Sales Department, AMACOM, a division of American Management Association, 1601 Broadway, New York, NY 10019. Tel: 212-903-8316. Fax: 212903-8083. E-mail: specialsls@amanet.org Website: www.amacombooks.org/go/specialsales To view all AMACOM titles go to: www.amacombooks.org This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. Library of Congress Cataloging-in-Publication Data Cohen, William A., 1937– A class with Drucker : the lost lessons of the world’s greatest management teacher by William A. Cohen. p. cm. Includes index. ISBN 978-0-8144-0919-0 1. Management. 2. Executives—Training of. 3. Drucker, Peter F (Peter Ferdinand), . 1909-2005...
Words: 103006 - Pages: 413
...What is the purpose of business? Discuss. INTRODUCTION 1 At a dinner party a doctor, a lawyer and a businessman are sitting around the table chatting and talking about their life and work. At one point another man approaches the table and asks the three men what the purpose of their jobs is. The doctor immediately responds that he wants to help people and save life. The lawyer takes over and says he fights for justice and equality but when it comes to the businessman to answer the question - he remains silent. Would a normal businessman have been able to give readily a precise answer as to the purpose of business? Would he have said is it all about money and making profit? Or would he have answered like Peter Drucker that the customer should have the highest priority in business life and everything should be done to satisfy him1. Or would he have responded like Dave Packard once said: “I think many people assume, wrongly, that a company exists simply to make money. While this is an important result of a company’s existence, we have to go deeper and find the real reasons for our being...” 2 These quotes describe very well the difficulty in answering the question what the purpose of business is and the need for detailed analysis. As everybody is affected and surrounded by business every day, and since one can hardly imagine a world without business, it is crucial to know its purpose. Therefore it is the objective of this paper to examine in greater detail the nature and purpose...
Words: 2725 - Pages: 11
...CHAPTER 1 INTRODUCTION: WHAT IS STRATEGIC MANAGEMENT? What is Strategy? The term ‘strategy’ proliferates in discussions of business. Scholars and consultants have provided myriad models and frameworks for analysing strategic choice (Hambrick and Fredrickson, 2001). For us, the key issue that should unite all discussion of strategy is a clear sense of an organization’s objectives and a sense of how it will achieve these objectives. It is also important that the organization has a clear sense of its distinctiveness. For the leading strategy guru, Michael Porter (1996), strategy is about achieving competitive advantage through being different – delivering a unique value added to the customer, having a clear and enactable view of how to position yourself uniquely in your industry, for example, in the ways in which Southwest Airlines positions itself in the airline industry and IKEA in furniture retailing, in the way that Marks & Spencer used to. To enact a successful strategy requires that there is fit among a company’s activities, that they complement each other, and that they deliver value to the firm and its customers. The three companies we have just mentioned illustrate that industries are fluid and that success is not guaranteed. Two of the firms came to prominence by taking on industry incumbents and developing new value propositions. The third was extremely successful and lost this position. While there is much debate on substance, there is agreement that strategy is concerned...
Words: 6890 - Pages: 28
...Name: ___________________________ Test 3 Chapter 1 1. The pursuit of organizational goals efficiently and effectively by integrating the work of people through planning, organizing, leading, and controlling the organization's resources is called A. employment. B. management. C. career planning. D. competitive advantage. E. strategic planning. 2. A group of people who work together to achieve some specific purpose is/are called A. managers. B. employees. C. a team. D. an organization. E. a community. 3. To be ____A_________ means to use resources wisely and cost-effectively. A. efficient B. effective C. multiplied D. ethical E. innovative 4. To be ____B__________ means to make the right decisions and successfully carry them out to achieve goals. A. efficient B. effective C. multiplied D. ethical E. innovative 5. The scarcest, most valuable resource in business is A. a highly stable technology. B. a young workforce. C. skilled effective managers. D. financial capital. E. government support. 6. Which of the following is a payoff of studying management as a discipline? A. You will understand how to choose target markets. B. You will understand how to relate to your family much better. C. You will understand how to market the organization. D. You will understand how to advance your career quickly. E. You will understand how to manage yourself in the workplace. 7. The ability of an organization to produce goods or...
Words: 2106 - Pages: 9
...FINAL PROJECT: Importance of Systems Management 517 Joseph L. Campbell Capitol College SM-517 Importance of Systems Management 517 Psychological Factors in Systems Management (SM 517) has proven to be a class and part of an overall educational experience filled with challenges and accomplishments. It’s invited students to explore the concepts of management and leadership including questioning and dissecting the similarities, differences, and the many attempts of both displayed in the public eye. As a group of graduate students in SM 517, we have considered the good with the bad ranging from the well trained, self-sacrificing leader to the selfish, untrustworthy, and undertrained manager. We began with understanding the Applied Behavioral Science Approach in overall management and concluded with Synthesizing Management Theories. In all, SM 517 has provided an extensive educational approach to understanding management and overall leadership as a student (Hersey, Blanchard, & Johnson, 2008). The approach to gaining and expanding on knowledge in this area was to use resources such as Hersey, Blanchard, and Johnson’s (2008) text “Management of Organizational Behavior”. As a group of graduate students and aspiring leaders being led by Professor Malcom Beckett, we also used added resources that included current event articles, lectures, class discussions, and case studies to guide us in examining different forms of management and leadership...
Words: 2433 - Pages: 10
...Part 1. Identification of the marketing academic’s work 1. Introduction Philip Kotler has come to be known as one of the pioneers who has contributed to the field of marketing by broadening the subject as a profession which is now taught in schools and as part of a key area which needs to be incorporated in the business as part of the business plan. Born in Chicago on the 27th of May in 1931 to Russian Immigrants. He grew up with his three brothers in Chicago, where his parents ran a retail business. At an early Dr Kotler was seen to be someone who enjoyed reading. Dr Kotler is married to Nancy with three children. [pic] [pic] 2. Professional Background Kotler earned his Masters degree in economics from University of Chicago and his PhD at M.I.T both in economics. He also did his postdoctoral work in mathematics at the Harvard University and behavioural science at the University of Chicago. In 1962 he joined the Northwestern University which was later named as Kellogg School of Management. He has since been known as the distinguished S.C. Johnson & Son Distinguished of International Marketing at the Kellogg School of Management at Northwestern University. In business he has consultated and researched for IBM, American Bank, General Electrical and Honeywell. 3. Author: As an author he authored and co-authored 47 books by 2007. Amongst those books is the famous Marketing Management book which was released in 1967 which has since been recognised as the...
Words: 2174 - Pages: 9
...ORGANISATIONAL BEHAVIOUR CHAPTER 1 1) ______________________ is the outcome of certain external and internal forces a) Human growth b) Human behavior c) Biological progress d) None of these 2) In the S O B model for human actions, S stands for a) Stimulus b) Situations c) Style d) Status 3) According to B J Kolasa, ____________ are processed at our _______________ and converted to appropriate responses a) Food products, stomach b) Acids, intestines c) Stimuli, brain d) None of the above 4) Basis of human behavior is motivation. a) True b) False 5) The _____________________________ defines heredity as ‘the process by which characteristics are given from a parent to a child through the genes.’ a) Oxford Dictionary b) Harvard texts c) Cambridge International Dictionary d) Webster’s Dictionary CHAPTER 2 6) _______________________ is defined as an interdisciplinary behavioral science, studying phenomenon related to dynamics of an organization and their various human science. a) Human psychology b) Organisation behavior c) Human relations d) Organisation dynamics 7) An organization as a unit consists of social, technical and economic sub-units which co-ordinate human and material resources to achieve its goals. a) Yes b) No 8) _______________________ is another term used to denote Organisation behavior. a) Behavior science b) Circumstantial response c) Human relations d) Social responsibility 9) “Human relations...
Words: 1199 - Pages: 5
...throughout an organization. Every unit within the organization which is involved must then accept the plan, agree to its direction, and implement specific actions. In order to effectively and efficiently implement a plan, all individuals involved in its implementation must function as a whole or the plan is destined for failure. [pic] Part A A DEFINITION OF STRATEGIC PLANNING Strategic planning is a tool for organizing the present on the basis of the projections of the desired future. That is, a strategic plan is a road map to lead an organization from where it is now to where it would like to be in five or ten years. It is necessary to have a strategic plan for your chapter or division. In order to develop a comprehensive plan for your chapter or division which would include both long— range and strategic elements, we suggest the methods and mechanisms outlined. The plan must...
Words: 2479 - Pages: 10
...AMERICAN INTERNATIONAL UNIVERSITY-BANGLADESH Faculty of Business Administration Department of Management BBA Program COURSE OUTLINE Term : Summer 2014-2015 I. Course Code and Title :BBA 1101– Introduction to Business II. Credit : 3 Credit hours III. Course Faculty :Stanley Rodrick Assistant Professor, Department of Marketing Faculty of Business Administration Faculty Room, Level# 3, Campus# 1, AIUB Email: stanley@aiub.edu Telephone: 8820865, 9890804, 9894641 Ext: 532 Section | Day | Time | Room | A1 | Sunday & Tuesday | 10:00 am – 12:00 pm | 121 | A8 | Monday & Wednesday | 12:00 pm – 02:00 pm | 521 | Vision AMERICAN INTERNATIONAL UNIVERSITY-BANGLADESH (AIUB) envisions promoting professionals and excellent leadership catering to the technological progress and development needs of the country. Mission AMERICAN INTERNATIONAL UNIVERSITY-BANGLADESH (AIUB) is committed to provide quality and excellent computer-based academic programs responsive to the emerging challenges of the time. It is dedicated to nurture and produce competent world class professional imbued with strong sense of ethical values ready to face the competitive world of arts, business, science, social science and technology. Course Description The lesson has been prepared to provide students a revelation of the different forms of business activities. It covers up the thought of business, ideas, social responsibilities, moral values, structure...
Words: 1303 - Pages: 6
...Topic 1. Question 1: Summarize the chief tenets of the scientific management and social person movements. Be sure to identify key players in both movements. (5 page maximum, single spaced.) The scientific management and the social person movement differ noticeably. In its very initial stages, engineers had become vital to the development and installing advances in both technology and power. They were to become a prime source of information about management practices. One strong example would be Henry Towne as it was he whom called for engineers to look beyond the technical side of manufacturing and become involved in the economizing of efforts within the factory itself. The greatest player in the scientific management era being Frederick W. Taylor whom was a central figure in the development of management thought. Taylor gave a push and provided credibility to the idea of management. Taylor and others promoted systematic management with its popularized label of scientific management. It was characterized by advancing technology, market growth, labor unrest, and a lack of knowledge about management, industry in the United States was ripe for methods, systems, and better ways to produce and market products. To meet this need, Taylor provided a voice. Taylor's book 'Shop Management' provided the text for the teaching of industrial management to a growing body of college students who sought positions in industry. Frederick Taylor’s theory focuses...
Words: 13326 - Pages: 54
...Week1: Homework Assignment Review Questions: (Chapter 1 Page 46) 1,3,4,6,7,8,9,10,12,14,16 1. The term knowledge worker was coined by Peter Drucker in 1959. Basically, what his term says is that knowledge workers are typically professionals who are relatively well educated and who creates, modify, and/or synthesize knowledge as a fundamental part of their jobs. Furthermore, they are well paid because of the valuable real-world skills and the continuing learning of how to do their jobs in a superior manner; their career opportunities are much better because they make up about a quarter of the workforce in the United States and in others advanced nation, raising their numbers quickly. 3. The 10 factors that led Globalization 3.0 are: 1. The Fall of the Berlin Wall 2. The release of the Netscape Web Browser 3. Work Flow Software 4. Uploading 5. Outsourcing 6. Offshoring 7. Supply Chaining 8. In- Sourcing 9. In-Forming 10. The Steroids 4. Work Flow Software: a variety of software applications that allow software-to-software interaction. “The fall of the Berlin Wall, and thereby the downfall of communism, is one of the key events flattening the world. The fall of the Berlin Wall marked the end of the Cold War between communist and capitalist countries and the breakup of the Eastern bloc, freeing millions of people. At once, people in many former communist countries could enjoy greater freedom. For many companies, this meant...
Words: 1090 - Pages: 5
...Part 1 The Theoretical assumptions of management Chapter 1 Management and scientific knowledge Douglas McGregor asks to tune ears while listening to managerial meeting to extract assumptions about human behavior. Response to managerial decisions is by blaming. McGregor states that there is no prediction without theory and all managerial decisions rest on assumptions about behavior. He also suggests that social sciences will develop a predictive capability comparable to that of physical sciences. Though the fields of management science, organizational science and decision science have progressed substantially since 1960, including important work about biases in human judgment, optimization of complex networks, the scientific advances about the fundamental nature of human beings at work remain indefinable. Chapter 2 Methods of influence and control McGregor, a seminal thinker, states that power to influence others is not a function of amount of authority one can exert. It is a function of the appropriate selection of the means of influence that the particular situation demands. He also points out that with a modern society of interdependence, influence, much more than authority, is central to success. Supporting examples: fields of communications and negotiations Generalizations:- Man is a wanting animal – as soon as one of his needs is satisfied, another appears in its place. This process is unending. It continues from birth to death. Man continuously puts forth effort/work...
Words: 4091 - Pages: 17
...MBA 6050 Marketing Management and Strategy College of Business Administration Bowling Green State University Spring 2014 Instructor: Dr. David A. Reid Phone: (419) 372-3410 Office: 285 Business Administration Building Fax: (419) 372-8062 E-Mail: dreid@bgsu.edu Class Hours: MW 1:30 - 2:45 p.m. (in BA116) Office Hours: MW 12:30 - 1:15 p.m.; 3:00 – 4:15 p.m., and other times by appointment “Marketing…is the whole business seen from the point of view of its final result, that is, from the customer’s point of view. Concern and responsibility for marketing must, therefore, permeate all areas of the enterprise.” - Peter F. Drucker, People and Performance, 1977 Required Textbook • Managing Marketing in the 21st Century: Developing and Implementing the Market Strategy, 3rd ed., by Noel Capon (www.axcesscapon.com, 2012). Available through www.axcesscapon.com (as a PDF file or in paperback), as well as Amazon.com or BN.com in either paperback or electronic format and in paperback through the University Bookstore. Required Cases • Harvard Business School Cases: listed in course outline. Cases are available for purchase online through Harvard Business School Press (Coursepack Link for purchasing cases listed below with list of cases). Introduction and Overview In their never-ending search for the ultimate secret to business success, many businesses continue to overlook the most fundamental premise of all business. While their search for...
Words: 3188 - Pages: 13
...1 LESSON- 1 ENTREPRENEUR AND ENTREPRENEURSHIP Dr. Jyotsna Sethi STRUCTURE 1.0 Introduction 1.1 Objectives 1.2 Entrepreneurship as a Career Option 1.3 Concepts and Definitions 1.3.1 Entrepreneur 1.3.2 Entrepreneurship 1.3.3 Enterprise 1.3.4 Difference between Entrepreneur and Entrepreneurship 1.4 Role of Entrepreneurship in Economic Development 1.4.1 Entrepreneurship and Economic Development 1.4.2Entrepreneurship and Education 1.5 Functions of an Entrepreneur 1.6 Innovation 1.7 Risk and Uncertainty Bearing 1.8 Organization 1.9 Functions Performed by an Imitator Entrepreneur 1.10Entrepreneur vs. Manager Relationship 1.11 Summary 1.12 Glossary 1.13 Self-Assessment Questions 1.14 Further Readings 1.0 INTRODUCTION Do you know that there are millions of unemployed youth in the country and by the time you graduate, this number would have increased substantially? Do you want to be part of that group which keeps knocking from pillar to post, checking with employment exchanges, relatives, friends, and neighbours and still not able to get a job to their liking and then settle for a second or third rate job? You can also choose to be like Mr. Patel of Nirma who was a chemist’s assistance and has a Rs. 2500 crore company today. Did you know that the original Mr. Bata was a cobbler? And now has stores in more than 30 countries all over the world. Or...
Words: 4399 - Pages: 18