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Few thinkers have had a greater impact on business than Peter Drucker, the inventor of modern management, whose legacy continues to influence leaders around the globe. His keen observations about organizations took the form of deceptively simple truths and astute predictions. Concepts such as decentralization, outsourcing, the rise of the knowledge worker, the role of employees as assets, and a focus on the customer--it was Drucker who first expressed them, sometimes decades before they be came accepted wisdom. Although renowned as a thinker and idea generator, the "what" in his teachings was far more prevalent than the "how." Now, "The Practical Drucker" mines his vast body of work to pinpoint 40 applicable truths for solving real-world problems. Readers will find surprising insights and clear guidance on how to: - Engage employees and achieve outstanding performance - Remedy destructive office politics - Approach innovation - Ensure follow-through on good ideas by establishing controls - Handle a crisis - Become better decision makers by questioning assumptions - Determine which leadership style to use in which situation - Do more with less - Steer clear of the biggest traps that leaders fall into - Avoid the five deadly marketing sins - And much more In succinct, satisfying chapters, the book distills the practical wisdom from Drucker's myriad books, essays, articles and his decades of teaching and consulting into a set of fresh, vital lessons that will resonate today and for years to come.
- Sales Rank: #1201215 in Books
- Published on: 2013-11-12
- Original language: English
- Number of items: 1
- Dimensions: 9.50" h x 6.25" w x 1.00" l, 1.24 pounds
- Binding: Hardcover
- 288 pages
Review
"If you've ever admired Drucker's ideas but were at a loss on how to apply them in your immediate working environment, this is the book for you" --T+D magazine
"...consistently clear and offers highly interesting approaches in explaining some of the less obvious that Drucker put forward." --Inland Empire Business Journal
From the Inside Flap
Business gurus come and go. But not Peter Drucker, who remains a towering figure, widely regarded to be the father of modern management and the world’s most influential business thinker.
Drucker’s uncanny ability to codify management practices and predict future trends has ensured his lasting impact. His dozens of books include the landmark Concept of the Corporation and The Effective Executive, which remains a bestseller decades after its first appearance.
Drucker aimed high to illuminate the big picture of organizations, their people, and the global forces affecting them. As such, his focus on the “what to do” eclipsed the “how to do it” that managers and executives crave. Yet crystalline insights into “how” were always there.
Scattered throughout his massive oeuvre are solutions to recurring problems and answers to perplexing questions. The Practical Drucker culls 40 of the most important how-to lessons, each interpreted for today’s business challenges and illustrated with fascinating stories and examples. Discover what Drucker had to say about how to:
• Engage your workforce in four essential steps
• Use the 80/20 rule to improve performance and cut costs
• Stay ahead of the competition by actively anticipating change
• Build synergy between marketing and selling
• Find the just-right price for your product or service
• Conduct useful marketing research, and toss out irrelevant data
• Embrace profitability, while avoiding the dangers of profit maximization
• Make a business case for acting in socially responsible ways
• Make the single most important leadership decision
• And much more
As a student, scholar, and longtime friend of Peter Drucker, author William A. Cohen is uniquely positioned to illuminate these timeless teachings of the management master, which resonate today with as much force and relevance as when they were first articulated.
William A. Cohen, Ph.D., President of The California Institute of Advanced Management, was Drucker’s first executive Ph.D. graduate. About him, Drucker wrote: “My colleagues on the faculty and I learned at least as much as we could teach him.” Cohen became an Air Force general, has held executive positions in several companies, and served as president of two universities. He is the author of books published in 23 languages, including Heroic Leadership, A Class with Drucker, Drucker on Leadership, and Drucker on Marketing. He lives in Pasadena, California.
From the Back Cover
Few thinkers have had a greater impact on business than Peter Drucker, the inventor of modern management, whose legacy continues to influence leaders around the globe. His keen observations about organizations took the form of deceptively simple truths and astute predictions.
Decentralization, outsourcing, the rise of the knowledge worker, a focus on the customer, the dangers of skyrocketing executive pay, even the probability of a global financial crisis—it was Drucker who first expressed these ideas, sometimes decades before they became accepted wisdom.
Although Drucker is renowned as a thinker and idea generator, the “what” in his teachings was far more prevalent than the “how.” Now, The Practical Drucker mines his vast body of work to pinpoint 40 applicable truths for solving real-world problems. Readers will find surprising insights and clear guidance on how to:
• Engage employees and achieve outstanding performance
• Remedy destructive office politics n Foster innovation
• Ensure follow-through on good ideas n Handle a crisis
• Become a better decision maker
• Choose the best leadership style for different situations
• Do more with less n Steer clear of leadership traps
• Avoid five deadly marketing sins
• And much more
In succinct, satisfying chapters, the book distills the practical wisdom from Drucker’s dozens of books and articles, as well as his decades of teaching and consulting, into a set of fresh, vital lessons that will resonate today and for years to come.
Most helpful customer reviews
8 of 9 people found the following review helpful.
Drucker Skipped the Weekly Management Meeting!
By John W. Pearson
Get this! Peter Drucker, the father of modern management, skipped his weekly staff meetings!
That’s just one of many hearty laughs you’ll enjoy as you bounce around the 40 short chapters in this hot-off-the-press keeper.
I dropped everything I was reading when this book arrived. Here are 10 reasons why:
#1. Drucker on Office Politics.
“Office politics can destroy any organization. You should avoid such things completely,” Drucker preached passionately. “I do not attend [the dean’s] weekly management meetings for precisely this reason.” The response from Dean Paul Albrecht at Claremont Graduate School: “If you are Peter Drucker, you do not need to attend my faculty meetings.”
#2. Drucker on Why You’re Usually Wrong.
When the book arrived, I scanned the 40 chapter titles and circled 15 must-reads, starting with Chapter 9: “What Everyone Knows Is Usually Wrong.”
Cohen writes, “It is true that Drucker many times uttered statements to make a particular point. A colleague noted that this made Drucker “eminently quotable.” But does the statement hold water? “He was talking about opinion expressed as fact.”
He adds, “What Drucker wanted to emphasize was that we must always question our assumptions, no matter from where they originate. This is especially so regarding anything that a majority of people ‘know’ or assume without questioning.” (This is a must-read chapter.)
#3. Drucker on Bribery.
“Huh?” I wondered, when I read Chapter 27, “Be Careful in Using a Bribe.” For the record, Drucker was against bribes, of course—but he had, as always, a unique slant on “buying customers” (a form of bribery). For example, he cautioned against underpricing the competition because customers will expect the lower prices to continue—even if the price is unsustainable—and will go somewhere else when you resume regular pricing.
Cohen comments, “I don’t think that Drucker was against [pricing] programs designed to accomplish a specific objective over a very short term. However you always need to ask the question, ‘Why aren’t we getting more sales at our current pricing?”
The poignant story of 38-year-old Douglas MacArthur (a brigadier general in World War I) is worth the price of the book. Can a general bribe an inexperienced major to lead his men into battle? You must read the story.
#4. Drucker on Market Research.
IBM’s market research concluded that the company would sell no more than 1,000 personal computers a year. The author quotes Steve Jobs, “A lot of times people don’t know what they want until you show it to them.” Drucker’s wisdom is stunning: “Better not to do at all than to do it wrong!”
Instead, Drucker preferred “reality testing.” For example, Chrysler CEO Lee Iacocca asked the Chrysler engineers to literally cut the roof off a Chrysler and convert it into a convertible in just 24 hours so he could take it for a marketing spin. “According to corporate legend, if Iacocca did any quantitative analysis in this research, it was that he counted how many people waved as he drove this ad hoc ‘convertible’ around town.”
SIDEBAR: Why is Peter Drucker still relevant?
Universally acclaimed as the father of modern management, Drucker influenced leaders and managers worldwide with 39 books, an immense number of articles, and his ability to zero in on core issues. When consulting with Jack Welch (who grew GE from $12 billion to more than 25 times that figure), Drucker challenged Welch with two questions:
1) “If GE wasn’t already in a particular business, would you enter it today?”
2) “If the answer is no, what are you going to do about it?”
Read more in Chapter 30, “Drucker’s Theory of Abandonment.”
As a student, scholar and friend of Peter Drucker, William A. Cohen was remarkably positioned to write this gem. President of two universities, an Air Force general, and Drucker’s first executive Ph.D. graduate, Cohen understands life-in-the-leadership-trenches. In each chapter, he competently gives a dose of Drucker, explains the core principle, and then illustrates the wisdom with memorable business stories—like how FedEx lost $320 million on Zapmail, its fax machine initiative. Cohen is also the author of the “inside management baseball” book, A Class With Drucker: The Lost Lessons of the World’s Greatest Management Teacher. But…back to my top-10 reasons list:
#5. Drucker on 3 Rules When Hiring.
“Making the right people decisions is the ultimate means of controlling an organization well,” said Drucker. “Such decisions reveal how competent management is, what its values are, and whether it takes its job seriously.”
In Chapter 37, “The Ultimate Requirement for Running a Good Organization,” Cohen lists Drucker’s three prime staffing rules, including “Choose three or four candidates for the job rather than immediately settling on one.” Drucker also understood that there is no perfect candidate, but the person must be strong “in the few critical areas that are essential.” Cohen adds this humorous story:
“When Abraham Lincoln wanted to promote his most successful general, Ulysses S. Grant, to be general-in-chief of the Union forces during the Civil War, one of his cabinet officers warned that Lincoln should not expect too much from Grant because he was a hard drinker. Lincoln retorted, ‘Ask him his brand so I can send a case to all my generals.’”
#6. Drucker on Leadership as a “Marketing Job.”
This will surprise you—maybe. “Famed marketing Professor Philip Kotler, who is often referred to as the ‘Father of Modern Marketing,’ said, ‘If I am the Father of Modern Marketing, then Drucker is the Grandfather of Modern Marketing.’”
#7. Drucker: No Fan of the Peter Principle.
Drucker believed that the “Peter Principle,” (a person ultimately rises to his or her level of incompetency) was “badly mistaken, easily disproved, and likely to lead to serious problems at many levels of management if it were actually applied as presented.” Cohen adds, “Drucker also maintained that, all too frequently, the fault underlying the failure [of a manager] was a boss who put the individual in the wrong job.” In Chapter 11, “People Have No Limits,” he quotes Drucker:
“We have no right to ask people to take on jobs that will defeat them, no right to break good people. We don’t have enough good young people to practice human sacrifice.”
#8. Druckerisms!
If the 40 chapter titles don’t rev up your management motors, you may be in the wrong job. Here’s a taste: “The Seven Deadly Sins of Leadership,” “The Most Important Leadership Decision,” “Fear of Job Loss Is Incompatible With Good Management,” “Where the Best Innovations Come From,” “The Purpose of Your Business Is Not to Make a Profit,” and “Drucker’s Most Valuable Lesson.”
#9. Drucker’s Favorite Leadership Book.
According to his widow, Doris Drucker (who was 101 when interviewed by Cohen), Peter noted, “The first systematic book on leadership—the Kyropaidaia by Xenophon, himself no mean leader of men—is still the best book on the subject.” (Yes, it’s on my reading list for 2014.)
#10. Drucker’s 7 Action Conclusions on Strengths.
In my “Drucker Bucket” chapter in Mastering the Management Buckets, my first bullet point is “Lead From Your Strengths.” My opinion: Drucker was also the father of the strengths movement. Cohen lists Drucker’s “seven action conclusions” after you do a strengths analysis:
1) Concentrate on your strengths and make them stronger.
2) Work on improving your strengths.
3) Identify where intellectual arrogance causes disabling arrogance.
4) Remedy your shortcomings or bad habits.
5) Demonstrate good manners.
6) Don’t take on assignments in which you are incompetent.
7) Don’t waste a lot of time raising your performance in weak areas.
Read this book and you’ll have far more than 10 reasons to inspire your colleagues to read this very, very practical resource, The Practical Drucker.
3 of 3 people found the following review helpful.
A brilliant explanation of how to apply the most valuable lessons to be learned from Peter Drucker (1909 -2005)
By Robert Morris
The title of this book is almost redundant because Peter Drucker is, in my opinion, the most practical business thinker since Benjamin Franklin. He often referred to himself as a "student" because he had an insatiable curiosity to understand what works in the business world, what, doesn't...and especially, why.
Bill Cohen is uniquely qualified to share his thoughts and feelings about Drucker and his work because he was one of Drucker's students for several years, became personal friends with him and his wife Doris, and was the first to earn a PhD in management from the Peter Drucker School of Management at Claremont Graduate University.
Drucker once said of Cohen, "My colleagues on the faculty and I learned at least as much as we could teach him."
What we have in this volume, as Cohen explains, is material he uncovered while mining "Drucker's vast body of work to explain forty of his most important concepts and truths: keys for solving real-world problems and fundamentals for today's effective management and keen leadership. However, I have carried his ideas a step further: I explain not only what needs to be done to implement his concepts but also how to go about [begin italics] doing [end italics] this implementation. If there are mistakes here, they are mine. The genius is pure Drucker." Cohen presents Drucker's insights and counsel in a sequence of 40 chapters that are organized within four Parts: People, Management, Marketing and Innovation, and Organization.
These are among the passages that caught my eye:
o Confucian Ethics (Page 11)
o Drucker's four paths to an engaged worker (16)
o His favorite leadership book: the Kyropaidaia by Xenophon (20-21)
o His career advice (76-80)
o Drucker's views on office politics (86-89)
o His advice on "managing" the future (101-102)
o On the importance of timing (118-124)
o On problem solving (131-136)
o The Five Great Marketing Sins (145-157)
o Ten Principles of Strategy Development (155-158)
o Four Approaches to Entrepreneurial Marketing (159-164)
o What Customers Really Want (179-180)
o What You Should Do When Strange Things Happen (187)
o Why the primary purpose of business is [begin italics] not [end italics] to make a profit (202-203)
o The value of ignorance to the problem solving process (222-225)
It is importance to stress again that Cohen serves as a guide during his reader's explorations of Peter Drucker's thoughts about virtually every aspect of the modern business world, with special attention to 40 of his most important concepts. However, whereas Drucker's primary emphasis is often on what and why, Cohen's is on how. To a much great extent than Drucker ever did, at least in print, Cohen shares hundreds of anecdotes that focus on real people in real situations who struggle to solve problems and answer questions, who attempt to apply (for better or worse) lessons learned from Peter Drucker. When concluding this book, he reveals what he considers Drucker's most valuable lesson: "He taught us to think and ask questions." Most of his own answers can be found in this admirable book.
Those who share my high regard for The Practical Drucker book are urged to check out these among Bill Cohen's previously published works: A Class with Drucker: The Lost Lessons of the World's Greatest Management Teacher (Mar 4, 2009), Art of the Strategist, The: 10 Essential Principles for Leading Your Company to Victory (Jun 2004), and Secrets of Special Ops Leadership: Dare the Impossible -- Achieve the Extraordinary (Sep 9, 2005).
3 of 3 people found the following review helpful.
Key management concepts distilled from Drucker
By John Gibbs
Peter Drucker’s powerful observations about people and the organisations in which they worked sometimes took the form of deceptively simple truths and astute predictions, according to William Cohen in this book. Most managers do not have the time to trawl through the vast number of books and other publications of the great management guru, so this book is a distillation of 40 key concepts extracted from Drucker’s works.
Some interesting inclusions amongst the wisdom of Drucker:
• What everyone knows is usually wrong
• Power comes from integrity
• Fear of job loss is incompatible with good management
• Quality is judged by the customer, not by you
• There are no irrational customers, only irrational marketers
• The purpose of your business is not to make a profit
• Leadership is a marketing job
The author has a concise writing style, and the concepts are explained in an easy-to-follow manner, illustrated by anecdotes. However, I am a sceptical reader and some of the anecdotes seemed to me to have been over-simplified and adjusted to fit the situation. There is plenty of helpful content in this book, but I suspect that a reader will get a truer understanding of Drucker’s wisdom by delving into some of his original works.
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