In the late afternoon of December 1, 2023, in the Hofburg Palace of Vienna, the Global Peter Drucker Forum committed itself to the pursuit of a new management paradigm, âThe Next Managementâ, over the next five years. It came at the end of an eventful three-day Forum dedicated to Creativity and Resilience, where not only practicing or academic thought leaders, but also the younger generation and artists took the stage. [âŠ]
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What will be involved in enabling the next management to become a noble calling that helps create a worthy society? In his HBR article of June 2024, Richard Straub suggested that it should include at least seven aspirations, as shown in Figure 1.[âŠ]
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Peter Drucker aptly noted, “The most valuable asset of a 21st-century institution, whether business or non-business, will be its knowledge workers and their productivity.” Following him, Richard Straub – President of the Peter Drucker Society – claims that knowledge has become the most critical resource in the modern economy, surpassing even physical assets in importance. Managing knowledge work and knowledge workers is pivotal for fostering innovation and creating new value. This shift is driven by several transformative changes, including the rise of artificial intelligence (AI), remote work, and collaborative platforms. To navigate these changes effectively, organizations need to adopt new management practices that prioritize the productivity and creativity of knowledge workers. [âŠ]
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Innovation has lost most of its potency through rampant misuse and overuse. Now is the time for innovation to return to its roots â ideas with real impact. The world needs sustainable innovation that considers the triple bottom line of people, planet, and profit â products services, processes, or business models that create long-term value by balancing economic, social, and environmental considerations. [âŠ]
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We are in the midst of a âpoly-crisisâ â a broad-based failure of institutions â all of them suffering loss of performance in a complex and unpredictable world, and all experiencing an erosion of trust. âBusinessâ as a sector is holding up relatively better, perhaps because people believe it is kept in line by competitive forces and a grounding in reality rather than ideology. [âŠ]
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Anyone knowledgeable about management is well aware of the power of âdisruptive innovationââClay Christensenâs term for how long-established and well-resourced enterprises can be upended by creative competitors focused on delivering more value to their customer bases. What many do not yet recognize, however, is that management itselfâthe whole set of rules and tools by which organizations are professionally runâis also in the process of being disrupted.[âŠ]
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At the Drucker Forum 2023, Curt Carlson, former CEO of SRI International in Silicon Valley, participated in an Interactive Value Creation Workshop with Isabella Mader, CEO of Excellence Institute, and Kalina Deng, VP at Snipp Interactive. They discussed how AI tools, and a value-creation framework can boost innovation initiatives. Here, Carlson is in an edited conversation with Milena MiliÄeviÄ, a digital transformation consultant and 2nd place winner of the Drucker Challenge Essay in 2016.[âŠ]
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A research company out of London called The Nursery suggests that not all 18-year-olds think alike. While on the surface this doesnât appear an earth-shattering finding, dig a little deeper and there are enormous implications for business and society.[âŠ]
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