If Peter Drucker is the founder of modern management (as has been argued by some
ID: 411731 • Letter: I
Question
If Peter Drucker is the founder of modern management (as has been argued by some), how and why do his management theories differ from his predecessors such as Taylor, Follett, and Weber? Use specific examples from your readings.
John D. Stavig is the Professional Director of the Center for Entrepreneurial Studies at the Carlson School of Management, University of Minnesota. He holds a B.S.B. from the Carlson School and an M.B.A. from the Wharton School. John has over 15 years of experience in manage- ment consulting, private equity, and industry. As a founding principal of a $100 million private equity fund, he sourced and managed investments in numerous early-stage communications firms. John also served as CEO, CFO, and board member for several start-up and early-stage technology firms, and led numerous investments, acquisitions, and divestitures. As a principal at Gemini Consulting and Arthur Andersen, he provided strategic and financial consulting services to senior executives in Fortune 1000 firms throughout the world. John has also taught in the M.B.A. program at the University of St. Thomas. Shaker A. Zahra is the Robert E. Buuck Chair of Entrepreneurship and Professor of Strategy at the Carlson School of Management at the University of Minnesota. He is also the Codirector of the Center for Entrepreneurial Studies and Codirector of the Integrative Leadership Center. His research has appeared in leading journals. He has also published or edited 10 books. His research has received several major awards. He is the Chair for the Entrepreneurship Division of the Acad- emy of Management. His teaching, research, and service activities have received several awards. Management is the brain of an enterprise and the primary source of long-term differentiation between firms. It is the disciplined and integrated practice of managing business, managers, workers, and work. It is also the creative process that drives innovation (the process of trans- forming discoveries into products, goods, and services) and entrepreneurship in a company. Management is entrusted with the responsibility for directing resources for the attainment of profits and the betterment of society.Explanation / Answer
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Taylor management theory: This theory emphasizes more on the scientific approaches to increase the operational efficiency of the company by using these approaches for the labor efficiency as well.
Follett management theory: She was more of the behavioral management kind of person who prefers pull and power with concept rather than the push and power over.
Weber management theory: His management theory is very goal oriented. He was of the view that the companies use the company resources and the labor only to reach their own goals.
Peter Ducker Management theory: This theory states that the company objectives and the employee objectives should align so that both the stakeholders get the maximum benefit.
His theory is the most sought after since he took into consideration both stakeholders for making the business great.