Must-Learn Principles From The Father Of Modern Management Peter Drucker
19 August 2022
[Video Transcript]
4 Essential Principles Of Management by Peter Drucker
Insights From The Essential Drucker by Peter Drucker
The Essential Drucker is a collection of insights that can help you become a better manager.
But what exactly is management?
Is it a collection of organizational techniques?
Is it a bunch of analytical tools that are taught in business school?
Drucker explains that above all else, management is based on the following essential principles.
First, management is about humans. Management’s purpose is to make people more capable of working together.
The best managers find ways to maximize their teams’ strengths and minimize their teams’ weaknesses.
Since most people work for some kind of organization now, big or small, their ability to make a living and contribute to society increasingly depends just as much on good management as it does on their own skills, effort, and dedication.
Another principle is that it’s management’s job to define the organization’s values, objectives, goals, and mission.
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Without these shared commitments, there can be no enterprise.
Successful managers consistently exemplify their organization’s values and reaffirm its objectives, goals, and mission to keep everyone working towards the same vision of the future.
A third principle to remember is that management must enable an organization and its members to grow and develop over time.
People are the only true resource at any organization. To invest in this resource, continuous training and development should be built into all levels of the institution.
One last principle is that results only exist outside of the organization. For example: a good business result is a happy customer.
A good hospital result is a healed patient. And a good school result is a student who has learned something that they can use later in life.
These are just a few of Drucker’s principles of management.
Managers who learn these core principles and apply them to their work are more likely to be successful in the long term.
