MANAGEMENT CHALLENGES for the 21st Century [Kindle Edition]

At 90, Peter Drucker is, by all accounts, the most enduring management thinker of our time. Born in Vienna, educated in Austria and England, he has worked since 1937 in the United States, first as an economist for a group of British banks and insurance companies, and later as a management consultant to several leading companies. Drucker has since had a distinguished career as a teacher, including more than twenty years as Professor of Management at the Graduate Business School of New York University. Since 1971 he has been Marie Rankin Clarke Professor of Social Science and Management at the Peter F. Drucker Graduate School of Management, Claremont Graduate University in California, where he still teaches in the fields of management and business policy.

With a long-term business perspective second to none, Drucker's books span sixty years of modern history beginning with The End of Economic Man (1939) and Managing in a Time of Great Change; Management: Tasks, Responsibilities, Practices; Innovation and Entrepreneurship; The Effective Executive; Managing for Results and The Practice of Management.

This book looks afresh at the future of management thinking and practice and defines new ways of delivering success. It deals exclusively with tomorrow's hot management issues-the crucial, central, life-and-death issues that are certain to be the major challenges of tomorrow. The biggest challenge will be knowledge worker productivity-what is it; how can it work; how do we manage knowledge workers and ourselves? Two fundamental issues addressed are changes in the world economy and the subsequent changes in management practice which will bring about new realities requiring new corporate policies as well as presenting new opportunities for the individual knowledge worker.

Many of the individual knowledge workers affected by these challenges will be employees of business or working with business. Yet this is a management book rather than a business management book. The challenges it presents affect all organisations of today's society, particularly the more rigid and less flexible, i.e. the ones more rooted in the concepts, assumptions and policies of the 19th century. The challenges and issues discussed in this book are not new and are already with us in every one of the developed countries and in most of the emerging ones. They can already be identified, discussed, analyzed and prescribed for. Some people, someplace, are already working on them. But so far very few executives and even less organisations are. Those who do work on these challenges today, and thus prepare themselves and their organisations for the new challenges, will be the leaders and will dominate tomorrow.

In the 2 first chapters, we are sharing ideas from the Management's assumptions, which are no more valid in the "New Economy" to The New Certainties on which very few organizations and very few executives are working on and are invited to a call for action in front of a period of a profound transition.

In Chapter 3, Peter F. Drucker is describing, the Change leader, which mission will not be to manage change, because it is not possible to manage change, but to be ahead of it. Different recommendations are given, but the more important one is piloting the change to permanently test reality. If making the future is highly risky, it is less risky than not trying to make it in a period of upheavals, such as the one we are living in.

In chapter 4, the author convinces us that IT Information Technology has to move from the T to the I. That means that Technology as such is not the concern of executives when Information is. It is true that executives did not get always, with the Information Technologies Revolution, the Information they need for acting. But Information requires also to move from internal information to external Information, because strategy is mainly based on the last one. Information being the key resource for knowledge workers asks to be organized at individual and group level to anticipate and avoid surprises in front of significant events and to prepare for action.

In chapter 5, after discovering that the main contribution of management in the 20th century was the fifty-fold increase of productivity of the manual-worker in manufacturing, we are presented the challenge for the 21st century as being the increase of knowledge-worker productivity. The move there is from quantity measurement to quality measurement of an agreed defined task of a knowledge-worker, which is part of a growing population in developed countries. Knowledge-workers, owning their means of production, the knowledge between their ears, are becoming assets instead of costs. And if costs need to be controlled and reduced, assets need to be made to grow. This means a change of attitude of management but also of corporation governance who have to find balance between the interests of shareholders and knowledge-workers contributing to the wealth of the organization.

In the final chapter, we are presented the impact of all previous evolutions on the individual knowledge-worker, who will have to manage himself in this new environment. This is a real revolution in mentalities due to two new realities: workers are likely to outlive organizations, and the knowledge worker has mobility the manual-worker did not have. Partnership is becoming an answer to these changes with all the consequences for the individual who has to ask himself: "what should be my contribution" and "where and how can I have results that make a difference", yes a real revolution already there.

Management Challenges for the 21st Century is giving the basics to enter the period of profound transition we know with the arrival of the "New Economy" and will make the difference for the people who read this book. We really have to thank Peter F. Drucker for this important contribution at the age of 90, a masterpiece after more than sixty years devoted to management development.