What Would Peter Say?

Heeding the wisdom of Peter Drucker might have helped us avoid - and will help us solve - numerous challenges, from restoring trust in business to tackling climate change. He issued early warnings about excessive executive pay, the auto industry's failure to adapt and innovate, competitive threats from emerging markets, and the perils of neglecting nonprofit organizations and other agents of societal reform. If he were still here, a century after his birth, what would he say about the path forward? The essential Drucker can be summarized in three themes: First, management should be a profession, and executives and managers should remember that their primary job is to look out for the long-term health of their organizations. That means taking responsibility for social well-being, not just wealth. Second, knowledge workers cannot be controlled; they must be motivated. Such employees must see a purpose more meaningful than personal profit. And third, nonprofits are necessary ingredients for producing a good society, one in which businesses can thrive. It is critical to invest in them. Drucker was not a revolutionary. He merely asked that we constantly challenge our assumptions. He preached steadiness and vision, recognizing that leading in turbulent times requires foresight about where things are heading as well as judgment about what not to change.