Peter Drucker’s name is synonymous with modern management. One of the most widely-known and influential thinkers on management, his work continues to inspire business leaders, organisations, managers and many others worldwide. A prolific author, he depicted management as a distinct function. He was considered the founding father of modern management studies. If you are planning to pursue Ph.D. in Management, here are some of the timeless lessons from Peter Drucker that you may find useful:
- Manage yourself: A lot of people think that management is all about managing a team or employees. But according to Drucker, to manage others, one must manage oneself first. He wrote in his book Managing Oneself, “How can you possibly expect others to perform at the highest levels without first expecting that of yourself?” Drucker believed that to manage a career well, one must cultivate a deep understanding of oneself. For that you must answer the following questions:
- What are my strengths?
- How do I perform?
- What are my values?
- Where do I belong?
- What should I contribute?
- Know what you are good at: Drucker says instead of ficssuing on incompetencies, focus on what one is good at. To be a good manager or a businessperson or a successful professional, one must determine their own distinctive competences. This means — focussing on what one is truly made for. life and career. Build on strength is Drcuker’s formula for happiness in professional as well as personal life. However, he also said that this doesn’t mean one has to ignore all the weaknesses. While building in the strengths, all attempts should be made to address weaknesses.
- Be effective not efficient: The Effective Executive by Drucker is one of the most widely read books. In this book, he advocated that effectiveness can be achieved by doing highest value activities. According to him, efficiency is doing things right whereas effectiveness is doing the right things.
- Focus on opportunities, not problems: Most companies have their senior leadership focussed on on problems. But he said the focus should rather be on opportunities. Drucker said , “An organisation will have a high spirit of performance if it is consistently directed toward opportunity rather than toward problems.”
- Embrace the power of abandonment: According to Drucker, often businesses are too much focussed on doing what they are really good at and they abandon everything else. Drucker said it is important for businesses to learn and decide what not to do. As the needs of the customer change and evolve, businesses must realign their priorities.
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