4. Peter Ferdinand Drucker
Born on November 19, 1909.
He was an Austrian-born
American management
consultant, educator, and author,
whose writings contributed to the
philosophical and practical
foundations of the modern
business corporation.
He was also a leader in the
development of management
education, he invented the
concept known as management
by objectives.
5. • He is one of the best-known and most
widely influential thinkers and writers on
the subject of management theory and
practice.
• In 1959, Drucker coined the term
“knowledge worker" and later in his life
considered knowledge worker productivity
to be the next frontier of management.
6. Early influences
Among Peter Drucker's early influences was the Austrian
economist Joseph Schumpeter,who impressed upon
Drucker the importance of innovation and
entrepreneurship.
Over the next 70 years, Drucker’s writings would be
marked by a focus on relationships among human
beings, as opposed to the crunching of numbers
His books were filled with lessons on how organizations
can bring out the best in people, and how workers can
find a sense of community and dignity in a modern
society organized around large institutions
7. The 'business thinker
• Drucker's career as a business thinker took off in
1942, when he access to the internal workings
of General Motors (GM)
• Drucker was interested in the growing effect of
people who worked with their minds rather than
their hands.
• His approach worked well in the increasingly
mature business world of the second half of the
twentieth century
8. Key ideas
• The concept of "Knowledge Worker" in his 1959 book
"The Landmarks of Tomorrow".[31] Since then,
knowledge-based work has become increasingly
important in businesses worldwide.
• A profound skepticism of macroeconomic theory.
[35] Drucker contended that economists of all schools
fail to explain significant aspects of modern economies.
• The need for "planned abandonment." Businesses and
governments have a natural human tendency to cling to
"yesterday's successes" rather than seeing when they
are no longer useful
9. • A company's primary responsibility is to
serve its customers. Profit is not the
primary goal, but rather an essential
condition for the company's continued
existence and sustainability.
• A belief in the notion that great companies
could stand among humankind's noblest
inventions
10. Awards and honors
• Drucker was awarded the Presidential Medal of
Freedom by US President George W. Bush on
July 9, 2002.
• He also received honors from the governments
of Austria,[54] including theGrand Silver Medal
for Services to the Republic of Austria in 1974
the Grand Gold Decoration for Services to the
Republic of Austria in 1991
And The List goes on But Unfortunately on
November 11, 2005 he left us.....
11. Henri Fayol
• Born on Istanbul, 29 July
1841 was a was
a French mining
engineer.
• Henri Fayol is one of the
first giants of
management thinking.
• His fame rests on one
book written in 1916 in
French and not translated
until the late 1940's.
12. • Fayol is truly one of the giants of
management thinking.
• Fayol’s ideas had a major effect on how
management functions in most
established organisations.
13. • In his book, Fayol proposed that there were six
primary functions of management. They were:
• 1. forecasting
• 2. planning
• 3. organizing
• 4. commanding
• 5. coordinating
• 6. controlling
14. • Principles of management
• 1.Division of work
• 2.Authority
• 3.Discipline
• 4.Unity of command
• 5.Unity of direction.
• 6.Subordination of individual interests to the general interest
• 7.Remuneration
• 8.Centralization
• 9.Scalar chain
• 10.Order
• 11.Equity
• 12.Stability of tenure of personnel
• 13.Initiative
• 14.Esprit de corps
15. Books, translated
• 1930. Industrial and General Administration. Translated by J.A.
Coubrough, London: Sir Isaac Pitman & Sons.
• 1949. General and Industrial Management. Translated by C. Storrs, Sir
Isaac Pitman & Sons, London.
The Work Done By Fayol is irreplaceable in the world of
management but again sad to say that he left us in the bussiness
world on 19 November 1925.
