Introduction
Peter Drucker is considered one of the founding fathers of modern management, born in Vienna in 1909. Alumnus of Frankfurt school of Economics and Imperial College London, his works have been incredibly influential on the development of modern management philosophy. One of his most influential works is The Practice of Management, written in 1954 and still a go to for any business manager. Entirely dedicated to discoveries in management, the Practice of Management outlines several elements and principles that have been used as the foundation of modern management, hence the nickname ‘The Father of Modern Management’.
The New Management Model
The model Drucker created was revolutionary. He shifted the cognitive focus away from stressing the theory of management in order to concentrate on the practice of management and saw the need of managing in the same way as managing any other human endeavour.
His key point of difference was that management was an activity as well as a knowledge domain, and proposed a new approach of problem solving, advice giving and decision making.
Throughout his work Drucker emphasised the importance of employee-centricity and their empowerment. He believed that employees should be given the structure and the freedom to think what and how to do their jobs. He thought managers should create conditions for innovation and improvement through giving employees the ability to engage in independent efforts and hold them to different kinds of value systems.
This innovative management model was built upon individualism, an idea that each person has a unique set of competencies, personality traits and drives that are used to achieve the common goals of the business. Similarly, he proposed that machines and technology should be used strategically, in order to delegitimize manual labor, maximize efficiency, and give the manager the time to think about the bigger picture. His most emphatic point was that great managers are able to translate the goals or objectives of the company into tangible results and create value by achieving successful completion of all tasks through effective delegation of authority.
Drucker also stressed the importance of efficiency, effectiveness and focus. He believed that managers should focus and specialize their efforts, in order to maximize their contributions to the company. He argued that specialization and a clear understanding of the goals allows for managers to laser focus on the most important tasks, encouraging efficiency and effectiveness. This principle allows managers to be effective in their decision making and in their tool selection, and able to prioritize their tasks. Lastly, Drucker believed that great managers use observational techniques to gauge efficiency and effectiveness, as well as direct communication with employees and stakeholders in order to provide insights, feedback and recommendations.
Conclusion
The new management model laid out by Peter Drucker has redefined the way management is viewed in the modern age. His ideas and philosophies have inspired managers to challenge their own paradigms, push their employees further, and become more efficient with their practices. His individualistic approach to management has become an essential element of successful businesses, as it gives managers the capability to utilize their employees’ strengths and delegate authority in an effective manner. His philosophy is applicable to any organization and has become a staple of modern business practice.
