Peter Drucker

Definition - What does Peter Drucker mean?

Peter Drucker (1909-2005) is a well-known and influential business writer and management consultant. His first book, "The End of Economic Man", was published in 1939 and his work was continually republished for generations. His last book, "The Five Most Important Questions", was published posthumously in 2008.

In 1959, Drucker coined the phrase "knowledge worker," one of his many notable accomplishments. He also made many predictions throughout his career, including the rise of knowledge work, the trend of privatization and Japan’s initial rise as a global economic power.

Zideate explains Peter Drucker

Drucker came up with many important ideas throughout his career that are still relevant to business today:

  1. He (accurately) predicted the decline of the blue collar worker.
  2. He argued that a company should only be involved in the front-end operations of its business and should outsource back-end work.
  3. He predicted the rise of the third sector, or social economy, which consists of nonprofit organizations and NGOs.
  4. He wrote that serving the customer should be a business’s top priority and that this focus would drive profits.
  5. He argued against the command-and-control style of management and argued in favor of a more decentralized and simplified corporate structure.

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