MANAGEMENT GURU

GROUP MEMBERS

Hitesh Chauhan 18271Sandesh Kumar 18272Krupa Sakharkar 18273Renu Chaubey 18274Akeel Kapoor 18275Shweta Singh 18276

MANAGEMENT GURU IN WORLD

Peter Ferdinand Drucker Henri Fayol

Peter Ferdinand DruckerBorn on November 19, 1909. He was an Austrian-born American management consultant, educator, and author, whose writings contributed to the philosophical and practical foundations of the modern business corporation. He was also a leader in the development of management education, he invented the concept known as management by objectives.

• He is one of the best-known and most widely influential thinkers and writers on the subject of management theory and practice.

• In 1959, Drucker coined the term “knowledge worker" and later in his life considered knowledge worker productivity to be the next frontier of management.

Early influences

Among Peter Drucker's early influences was the Austrian economist Joseph Schumpeter,who impressed upon Drucker the importance of innovation and entrepreneurship.

Over the next 70 years, Drucker’s writings would be marked by a focus on relationships among human beings, as opposed to the crunching of numbers

His books were filled with lessons on how organizations can bring out the best in people, and how workers can find a sense of community and dignity in a modern society organized around large institutions

The 'business thinker

• Drucker's career as a business thinker took off in 1942, when he access to the internal workings of General Motors (GM)

• Drucker was interested in the growing effect of people who worked with their minds rather than their hands.

• His approach worked well in the increasingly mature business world of the second half of the twentieth century

Key ideas

• The concept of "Knowledge Worker" in his 1959 book "The Landmarks of Tomorrow".[31] Since then, knowledge-based work has become increasingly important in businesses worldwide.

• A profound skepticism of macroeconomic theory.[35] Drucker contended that economists of all schools fail to explain significant aspects of modern economies.

• The need for "planned abandonment." Businesses and governments have a natural human tendency to cling to "yesterday's successes" rather than seeing when they are no longer useful

• A company's primary responsibility is to serve its customers. Profit is not the primary goal, but rather an essential condition for the company's continued existence and sustainability.

• A belief in the notion that great companies could stand among humankind's noblest inventions

Awards and honors

• Drucker was awarded the Presidential Medal of Freedom by US President George W. Bush on July 9, 2002.

• He also received honors from the governments of Austria,[54] including theGrand Silver Medal for Services to the Republic of Austria in 1974  the Grand Gold Decoration for Services to the Republic of Austria in 1991

And The List goes on But Unfortunately on November 11, 2005 he left us.....

Henri Fayol 

• Born on Istanbul, 29 July 1841 was a was a French mining engineer.

• Henri Fayol is one of the first giants of management thinking.

• His fame rests on one book written in 1916 in French and not translated until the late 1940's.

• Fayol is truly one of the giants of management thinking.

• Fayol’s ideas had a major effect on how management functions in most established organisations.

• In his book, Fayol proposed that there were six primary functions of management. They were:

• 1. forecasting• 2. planning• 3. organizing• 4. commanding• 5. coordinating• 6. controlling 

• Principles of management• 1.Division of work • 2.Authority• 3.Discipline• 4.Unity of command• 5.Unity of direction.• 6.Subordination of individual interests to the general interest• 7.Remuneration• 8.Centralization• 9.Scalar chain• 10.Order• 11.Equity• 12.Stability of tenure of personnel• 13.Initiative• 14.Esprit de corps

Books, translated

• 1930. Industrial and General Administration. Translated by J.A. Coubrough, London: Sir Isaac Pitman & Sons.

• 1949. General and Industrial Management. Translated by C. Storrs, Sir Isaac Pitman & Sons, London.

The Work Done By Fayol is irreplaceable in the world of management but again sad to say that he left us in the bussiness world on 19 November 1925.

THANK YOU