"The world knows he was the greatest management thinker of the last century," Jack Welch, former chairman of General Electric Co.
What John Maynard Keynes is to economics or W. Edwards Deming to quality, Drucker is to management.
Among Drucker’s best ideas:
- Decentralization (1940s).
- Workers should be treated as assets, not as liabilities to be eliminated (1950s).
- "No business without a customer" (1950s).
- On Leadership: Don’t ever think or say “I.” Think and say “we.”
- On Work: Focus on opportunities rather than problems.
- On Decisions: Every decision is risky. Risks can be minimised if you know when a decision is necessary, how to clearly define a problem and tackle it directly, and that you’ll have to make comprises in the end.