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The Practice of Management
Peter F Drucker1955
Presnted byVijay arjun.v19047
About the authorBorn in Vienna in 1909Educated in Austria and EnglandDoctorate in Law from GermanyCame to the US in 1937Management ConsultantTaught in
Bennington CollegeNew York UniversityClaremont Graduate School (Since 1971)
The Practice of Management1955
The first true management book
Depicts management as a distinct function
Management has distinct responsibilities
Role of management
Dynamic,life-giving element in every businessManager is the key player-without him resourses of production remain resources and never become production
Jobs of managementFunction :economic functionThree jobs of management
Managing a bussinessManaging managersManaging worker and work
Managing a Business
Managing a Business Purpose of Business
To Create Customers Profit is result, not a cause, of business activity Who is the Customer ? What does the Customer Buy?
needs ability to spend taste preference
What is the Value to the Customer? Not only price, durability,purity,status
Functions of BusinessMarketing
Product planning Inventory control Pricing Distribution Promotion Sales and services
Innovation
What SHOULD our Business Be?
To find out four things- Market potential, market trendsWhat are the changes in market structure to be
expected with the change in taste and preference etc.
Innovation will change the customer’s want, create new ones.
What wants the customer have that are till now has not been satisfied?
Business Performance Objectives
Market ShareInnovationProductivityPhysical and Financial ResourcesProfitability
Manager Performance and Development
Worker Performance and AttitudePublic Responsibility
Managing Managers
Three Stonecutters“I am earning a living”“I am being the best stonecutter I can be”
“I am creating a cathedral”
Measurement of performance
Organizing for Peak PerformanceEngineering the Job
Motivating for Peak Performance
Managing Worker and Work
Managing Worker and WorkWork is to be performed; Resource is to perform
Resources vary from unskilled to artist in their work i.e., from wheel barrow pusher to vice-president
The Work of the ManagerSet ObjectivesOrganizeMotivate and CommunicateMeasurementDevelop PeopleDecision making
Decision makingWhatever a manager does ,he does through the decision making and affect the future existence of the enterprise.
Every decision tends to centre on the problem solving
5 Steps in Making DecisionsDefine the ProblemAnalyze the ProblemDevelop Alternative SolutionsFind the Best SolutionImplement the Decision
The Manager of Tomorrow1. Must manage by objectives2. Must take more risks 3. Must be able to make strategic
decisions4. Must be able to build an integrated
team5. Must be able to communicate fast and
clear6. Must see the business as whole7. Must relate to total environment
Responsibilities of Mgmt
Management as a Leading Group
Operate at a Profit and Grow
Social Impact
Conclusions
Questions?