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The Essential Drucker Audiobook Summary

Father of modern management, social commentator, and preeminent business philosopher, Peter F. Drucker analyzed economics and society for more than sixty years. Now for readers everywhere who are concerned with the ways that management practices and principles affect the performance of organizations, individuals, and society, there is The Essential Drucker–an invaluable compilation of essential materials from the works of a management legend.

Containing twenty-six core selections, The Essential Drucker covers the basic principles and concerns of management and its problems, challenges, and opportunities, giving managers, executives, and professionals the tools to perform the tasks that the economy and society of tomorrow will demand of them.

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The Essential Drucker Audiobook Narrator

Timothy Andres Pabon is the narrator of The Essential Drucker audiobook that was written by Peter F. Drucker

Peter F. Drucker is considered the most influential management thinker ever. The author of more than twenty-five books, his ideas have had an enormous impact on shaping the modern corporation. Drucker passed away in 2005.

About the Author(s) of The Essential Drucker

Peter F. Drucker is the author of The Essential Drucker

The Essential Drucker Full Details

Narrator Timothy Andres Pabon
Length 10 hours 56 minutes
Author Peter F. Drucker
Category
Publisher HarperAudio
Release date December 08, 2015
ISBN 9780062435194

Subjects

The publisher of the The Essential Drucker is HarperAudio. includes the following subjects: The BISAC Subject Code is Business & Economics, Management Science

Additional info

The publisher of the The Essential Drucker is HarperAudio. The imprint is HarperAudio. It is supplied by HarperAudio. The ISBN-13 is 9780062435194.

Global Availability

This book is only available in the United States.

Goodreads Reviews

Gene

August 09, 2022

Reading The Essential Drucker is like listening to a boxed set from your favorite recording artist in vinyl format. The music is timeless and so is the business advice of Peter Drucker.Here are a hand-selected dozen of The Greatest Hits you will experience during this journey through six decades of mastering the art and science of management:There is only one valid definition of business purpose: to create a customer.Because its purpose it to create a customer, the business enterprise has two -- and only these two -- basic functions: marketing and innovation.Results exist only on the outside. The result of a business is a satisfied customer.Customers pay only for what is of use to them and gives them value. Nothing else constitutes "quality."The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.Being at least as good as the [industry] leader is a prerequisite for being competitive.The [business] leader's first task is to be the trumpet that sounds a clear sound.There is no correlation (unless it be a negative one) between performance as a bench engineer and performance as a manager.Not to innovate is the single largest reason for the decline of existing organizations. Not to know how to manage is the single largest reason for the failure of new ventures.An innovation, to be effective, has to be simple and it has to be focused. It should do only one thing; otherwise, it confuses. If it is not simple, it will not work.Not enough people have at least one first-rate skill or knowledge area.Waste as little effort as possible on improving areas of low competence.Ask your leadership team how familiar they are with the business teachings of Peter Drucker. Receiving a response like "Who is Peter Drucker?" is like hearing "Who were The Beatles?"Access Gene Babon's reviews of books on Business Leadership and Business Strategy at Pinterest.

Craig

December 14, 2009

The plain-spoken stark insights in this book made me feel like I was reading philosophy although the subject matter is management. He really has pioneered a theoretical discipline of "management" and I found his thinking to be both pragmatically informative AND intellectually stimulating. Anyone interested in Organizational Behaviour or Management, or perhaps even economic organizational thought, should get a good dose of Peter Drucker--and I felt like I got that in this excellent compilation. He is an unquestionably brilliant thinker and even reading a few pages is worth the knowledge gained from doing so. I particularly liked his insights in the early chapters about profit incentives and how the microeconomic approach is both correct but flawed. Sometimes he doesn't offer an alternate explanation to problems--he just thoroughly outlines why the present ones are becoming obsolete. I loved this book!

Tõnu

February 01, 2020

“Not to innovate is the single largest reason for the decline of existing organizations. Not to know how to manage is the single largest reason for the failure of new ventures.”Highlights of Drucker's management body of knowledge created during 60 years, published almost 20 years ago... means the contents have to be taken with certain reservations (i.e. introducing the knowledge worker as a new phenomena). There are many ageless principles in this book as it's still very often cited by management books published in present day, yet I would say that the principles covered in Effective Executive have aged the best (so definitely recommending to read that book out of Drucker's many books). “Every enterprise requires commitment to common goals and shared values. Without such commitment there is no enterprise; there is only a mob. The enterprise must have simple, clear, and unifying objectives. The mission of the organization has to be clear enough and big enough to provide common vision. The goals that embody it have to be clear, public, and constantly reaffirmed. Management’s first job is to think through, set, and exemplify those objectives, values, and goals. Management”“To be sure, the fundamental task of management remains the same: to make people capable of joint performance through common goals, common values, the right structure, and the training and development they need to perform and to respond to change.”“Success always makes obsolete the very behavior that achieved it. It always creates new realities. It always creates, above all, its own and different problems. Only the fairy tale ends, “They lived happily ever after.”

Morteza

September 08, 2021

overall, I liked the book. However, as someone in the entrepreneurial field, I was learning many of the concepts in the field and that makes you a bit resistant to some points. However, as a general rule book, I would say it's great for everyone who is dreaming to start a company or manage a group of people.

Bob

November 28, 2016

I know that Drucker is one of the foremost authorities on 20th century Management. I know that his contemporaries consider Drucker a genius. I personally simply have a hard time following his writings, and this book was no exception. The Essential Drucker compiles a "Reader's Digest Version" from his top works on management and leadership. Covering topics such as his famous predictions on knowledge work economy to the entrepreneurial spirit of the future employee. Drucker dives into managing and leading these people. A good portion of the book is dedicated to how in the knowledge worker economy volunteerism will continue to rise pioneering new methods of management and leadership.It does amaze me how accurate many of Drucker's observations were. The Essential Drucker is a good opportunity to dip your toes into many of the key areas that are still relevant in today's economy.

Joshua R.

April 24, 2021

A fabulous tour of not just management, but the role of organisations in the present and how an individual can fit into that role. However there were times where I questioned how well the content has aged, having been published in 2001 -- I would be curious as how the late Peter Drucker may have updated some of his views in light of the past 20 years. This collection of essays is split into three sections: management, the individual and society; each decreasing in size and increasing in senility as the book goes on.Overall a really interesting essay collection which I would recommend to anyone working today. Now I know that a book on 'management' sounds dryer than Jacob's cream crackers covered in hot sand, but trust me when I say that it's interesting. Why? It is incredibly relevant to the way we work and live today. Read on for a summary/commentary/whatever:Management. My opinion of 'management' throughout my jobs so far has varied wildly but has understandably produced some sour relationships. My conclusion: none of them were excellent at the job and I feel like I could've done it better, however I also concede that it's easy to say this from outside the job. My main complaint was that they never reiterated over the organisations' missions and objectives and instead tried to be army officers. Management in their minds was undoubtably still about 'telling people what to do, only when I want to or my employers want to'. This also includes management who shrugs their responsibility, but then still feels entitled to authority in certain areas of purely personal interest.The ideal manager for the contemporary office worker, Drucker argues, mostly concerns themselves with defining what success looks like and putting people into the contexts where they are most capable of success. It's worth pointing out that this is not just for management in the business context, but in non-profit and public sector organisations too. Every organisation needs management, either by dedicated managers or staff under different titles, to unify people's efforts. Drucker also argues that the social impact of a company should be put foremost in the minds of executives, whether private or public sector. This certainly raised my skeptical eyebrow, and I'm still not sure if his argument is fantastic or pie-in-the-sky. He states that since any organisation , including businesses, necessarily exists in society. This means that the business requires a well-functioning society in order achieve its mission fully (hmmm, gambling, alcohol, ..., but ok). So therefore the company must ensure not to socially damage society in the areas in which it is already granted responsibility. This final part is quite key since Drucker believes that to put extra unrelated responsibility on a company, say to a car manufacturer to build social housing, is very undesirable because it then grants extra authority to that car manufacturer in an area they likely have little competence in. He also covers corporate morality, arguments for regulation, and the manager's dilemma between company survival and social benefits.The Individual. Drucker makes many comments that seem to anticipate the term 'T-shaped person'. He claims that an effective individual has a broad understanding of their organisation and its context. They must also have a key strength, which they have identified, and is always searching for where that strength will push a company towards its mission. Following on from that he advocates for people to be have high mobility both within and without organisations, at least if they want to maximise the effects they have in society.He also puts forth some ideas about decision making. He sees that every decision has to produce some kind of artefact, like a rule or a principle alongside tasks. Each decision brings upon cognitive load, so decisions should only be made for generic and persistent situations. Always consider: what would happen if we decided nothing? Society. As stated earlier, this section is a footnote compared to the other two. Drucker mostly wonders whether we are in the middle of slow but radical change in the structure of society. Capitalism is waning as knowledge has become more critical than capital for getting things done, 'work smarter, not harder' is a more radical and contemporary phrase than we might think and it applies everywhere. Knowledgism may appear at face value to just be an extension of capitalism, but knowledge has a very different behaviour. The proletariat of the 20th century often could not uproot their means of production from the factory floor when changing employer, but many workers today can since our means of production are our own mental capabilities.He sees the already reduced responsibility of government (in the pre-9/11 world of the late 1990s) will wane further as organisations become the key units of society. This he believes is a positive trend, since the 20th century has proved (hmm) that the welfare-state does not achieve its purpose effectively. He sees a new 'social sector' of non-profits and NGOs arising which shall better fit the purpose of a welfare state.

VENKATRAMAN

December 12, 2012

read this every year.

Srinath

August 14, 2019

A-Z on Management, atleast for a beginner

Charlane

April 13, 2009

Full of experience about people in business, in managing a business... he is right, one leads people as a manager! A must read if you are in any business.

RJ

September 06, 2017

Peter Drucker has a certain reputation in the business of business philosophy, and The Essential Drucker (TED) doesn’t disappoint. These are the greatest hits from decades of writing: an eminently quotable collection of practical advice and abstract philosophy for the humans powering the knowledge economy.The balance of the wisdom that Drucker dispenses is aimed at practical steps that managers–and in the knowledge economy, everyone is a manager–can employ to futher their work. Focus objectives, metrics, and energy on achieving results outside the organization. Forget heroic entrepreneurs and genius innovators; focus instead on the raw ingredients of success–clear objectives, focus, hard work and perseverance–that anyone can develop. Work smart. Lead at your own level, whatever it is. And always, always keep learning.The increasingly abstract chapters towards the conclusion of the book offer some of its most scrumptious nibbles, as Drucker traces out an intriguing (if debatable) vision for education, social enterprise, and fulfillment within post-capitalist society. Like any survey, there are chapter of TED that won’t be for everyone. Managers hungry to improve their craft will devour the first half but may find less use for musings over their place beneath the sun. Theorists will delight in the latter but face a considerable slog to reach it.And TED is not a new book. The earliest chapters date to 1996; the most recent to 2001. For all of its familiar–and notably prescient–ideas, both ideas and language feel dated at times. The explosion of technology and the lingering effects of the great recession leave the reader to wonder how its conclusions might have been adjusted to the new reality. Faith in entrepreneurship and the indomitable human spirit are well and good. Will they survive the explosion of information that’s defined the past 15 years? That’s a question for another book.— https://rjzaworski.com/2017/09/the-es...

Ahmad

August 27, 2015

Quotes from the book:-Not to innovate is the single largest reason for the decline of existing organizations. Not to know how to manage is the single largest reason for the failure of a new ventures.-the most productive innovation is a different product or service creating a new potential satisfaction, rather than an improvement.-innovation may be finding a new uses for old products. A sales man who succeeds in selling refrigerators to Eskimos to prevent food from freezing would be as much of an innovator as if he had developed brand-new processes or invented a new product. To sell Eskimos a refrigerator to keep food cold is finding a new market; to sell a refrigerator to keep food from getting cold is actually creating a new product. Technologically there is, of course, only the same old product; but economically there is innovation.-innovation is not invention. It is a term of economics rather than of technology. Nontechnological innovations-social or economic innovations- are at least as important as technological ones.-innovation is converting society's needs into opportunities for profitable business.-any serious attempt to state"what our business is" must start with customer's realities, his situation, his behavior, his expectations, and his values.-Market domination produced tremendous internal resistance against any innovation and thus makes adaptation to change dangerously difficult.- management in other words, will increasingly have to be based on the assumption that neither technology nor end use is a foundation for management policy. They are limitations. The foundations have to be customer values and customer decisions on the distribution of their disposable income. It is with those that management policy and management strategy increasingly will have to start.-companies can practice price-led costing, however, only if they know and manage the entire cost of the economic chain.-executives need the following tools to make informed judgments: foundation information, productivity information, competence information, and information about the allocation of scarce resources.-leadership rests on being able to do something others cannot do at all or find difficult to do even poorly.-to manage core competencies the first step is to keep careful track of one's own and one's competitor's performances, looking especially for unexpected successes and for unexpected poor performance in areas where one should have done well. The successes demonstrate what the market values and will pay for. They indicate where the business enjoys a leadership advantage. The non successes should be viewed as the first indication either that the market is changing or that the company's competencies are weakening.-every organization needs a way to record and appraise its innovative performance.-innovative performance assessment:1-which of them were truly successful?2-how many of them were ours?3-is our performance commensurate with our objectives? With the direction of the market? With our market standing? With our research spending? 4-Are our successful innovations in the areas of greatest growth and opportunity?5-how many of the truly important innovation opportunities did we miss?why?because we didn't see them? Or because we saw them but dismissed them? Or because we botched them?6-how well do we convert an innovation in to a commercial product?-scarce resources: capital and performing people-one innovates where one understands-entrepreneurial management in the new venture has four requirements:1-focus on the market2-financial foresight, and especially planning for cash flow and capital needs ahead.3-building a top management team long before the new venture actually needs one and long before it can actually afford one.4-it requires from the founding entrepreneur a decision in respect to his or her own role, area of work, and relationship.-businesses are not paid to reform customers, they are paid to satisfy customers.-an old bankers' rule of thumb, according to which forecasting cash income and cash outlays one assumes that bills will have to be paid 60 days earlier than expected and receivables will come 60 days later.-entrepreneurial judo (important chapter)-creative imitation: waits until somebody else has established the new, but only "approximately". Then it goes to work. And within a short time it comes out with what the new really should be to satisfy the customer, to do the work customers want and pay for. The creative imitation has then set the standard and takes over the market.-creative imitators do not succeed by taking away customers from the pioneers who have first introduced a new product or service; they serve markets the pioneers have created but do not adequately service. Creative imitation satisfies a demand that already exists rather than creating one.-creaming or the tendency to cream a market is to get the high-profit part of it. It causes smaller customers to be receptive to competitors. Creaming is a violation of elementary managerial and economic precepts. It is always punished by loss of market.-manners are the lubricating oil for an organization-waste as little effort as possible on improving areas of low competence-unless a decision has "degenerated into work", it is not a decision; it is at the best a good intention.-unless one has considered alternatives, one has a closed mind.-We perceive, as a rule, what we expect to perceive. We see largely what we expect to see, and we hear largely what we expect to hear.-leadership does matter, of course....it has little to do with "leadership qualities" and even less to do with "charisma". It is mundane, unromantic, and boring. It essence is performance.-what individuals have learned by the age of 21 will begin to obsolete 5 to 10 years later and will have to be replaced-or at least refurbished- by new learning, new skills, new knowledge

Hill

February 08, 2021

What if you get a chance to learn 60 years of wisdom of management from the “Father of Modern Management” in simple language in just 3.5 hours? 3 quick takeaways:1. Every organization needs management to improve performance and results and it’s not just for profit organization (the latter will be business management). If humans come together to achieve a goal then it must be managed (e.g. volunteers for American Red Cross must be managed). 2. Every aspect of the organization must have objectives (eg: marketing objectives)3. Profit is not the only goal but contributions to society as well (e.g: not to create negative externalities! hope some CEOs take this point to heart).

Sagar

May 01, 2019

More of a textbook on management, very informative nevertheless. Definitely not for a casual read. To be more precise, the book is divided into three parts. The first part gives guidelines on how a company/organization needs to be managed, more relevant for executives and entrepreneurs. The second part is on personal development in terms of management, which would be relevant for a regular reader. The third part talks about community, which sounded more like a history textbook. Overall, a lot of information to gain from this book.

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