Management Theories
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Peter Drucker (1909–2005) aka the “Guru of Management.”
- Believed that the primary responsibility of any corporation is to serve its customers and that profit, while not a goal, is an essential condition for any company’s sustainability.
- He believed that most corporations work best when:
- They are decentralized
- They outsource work in which they do not have a comparative advantage
- They focus on those areas in which they have a comparative advantage (their core business)