Open Innovation – A Powerful Movement Takes Shape

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As a co-founder of the Open Innovation Strategy and Policy Group I remember well the days when we had great difficulty to make ourselves understood. What is open innovation all about and why should anybody care? Some may even have thought that it might just be another buzz-word and management fad  –  we have indeed seen a lot of those passing by. Today, five years on we know  better.   What started as a small creek, invisible to most has become a powerful torrent. This is not just wishful thinking  –  the 2012 IBM CEO survey conducted with more than 1 700 business leaders in 64 countries contains compelling evidence: only 4 percent of the […]

Managing Complexity – Invitation to join the Conversation

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“We are at the beginning of a period of extreme flux, of extreme change and great competitive pressure in which traditional ways of doing things, traditional products, traditional processes will be challenged on all sides.”   When Peter Drucker uttered these words to a group of IBM executives, new complexities were tripping up the world. It was 1955.   In the more than half a century since, of course, the level of complexity has only increased across all of our institutions – political, economic and social. Indeed, as we move further into the 21st century, the complexity curve seems to be growing exponentially. The notion of achieving neatly laid-out objectives through systematic planning has become […]

Global Peter Drucker Forum 2012 – Think Young Article by Alexander Brown

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Held in Vienna, Austria, between the 15th and 16th of November 2012, the Global Peter Drucker Forum explored in detail the system of capitalism. Moreover, the focal question was whether or not maximization of shareholder value should be the primary concern of a business. Two members of the ThinkYoung team attended the conference to offer a youthful insight to a setting one would assume to be habitually dominated by seasoned representatives of multinationals.   Richard Straub, President of the Peter Drucker Society Europe, referred to the participants of the conference as essential components in an engine of change, driving towards new and better horizons, both socially and economically. He later quoted Winston Churchill in his […]

The Case of Vestas Wind Systems and Peter Drucker’s five deadly sins of business by Jørn Bang Andersen

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Denmark’s Vestas Wind Systems is a world leader within the global wind turbine industry. But after 2008 Vestas has experienced a near death experience and is struggling for survival.  It is argued that had Vestas paid attention to what the management guru Peter Drucker labeled the five deadly business sins Vestas might have avoided getting into dire straits.   According to Drucker the five deadline business sins are applied to Vestas in this article and as follows.    1. The first and easily the most common sin is the worship of high profit margins and of “premium pricing. (Peter Drucker)   The financial targets for Vestas’No.1 in Modern Energy strategy were defined October 2009, as Triple […]

Bottom-up management and the reintegration of former child soldiers: a profile of the Grassroots Reconciliation Group
By Christopher Maclay

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I was first introduced to Peter Drucker – and to the broader management discipline in general – through my entry to the inaugural Drucker Challenge in 2010 and subsequent participation at the Drucker Forum in Vienna that year. At the time I had been working on a poverty reduction programme in Bangladesh, and since my work has taken me to a variety of international contexts to engage with a variety of complex social problems. Each problem needs a different solution, and each solution requires a different approach. However, one managerial principle lies at the centre of any effective initiative in this field: participation.   In The Practice of Management, Drucker explained that, ‘A decision should […]

The 2012 Drucker Forum – Never Stop Playing
David Hurst

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I returned over the weekend from the Drucker Forum in Vienna. It was a great conference! From my ecological perspective it was an “open patch”, a place in which people with many different backgrounds and perspectives can gather, have an open dialogue and exchange questions and answers. This is the “soil” in which new ideas of all kinds can grow without being crushed by giant orthodoxies.   On the first evening – a cocktail party for speakers and essay-winners – I introduced myself to a man standing alone. I noticed that he had a tiny gold medal pinned in his lapel. He was Dan Schechtman, winner of the 2011 Nobel Prize for Chemistry, and a pioneer […]

Capitalism 2.0 Is Coming
by Marianne Abib-Pech

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Vienna November 2012, Palace Ferstel, in the grand settings of the Palace, memories of Menger, Hayek, Freud and Kohr laced with Elizabeth Of Austria presence are lingering. Mitteleuropa no more…or actually more than ever? This is the gala dinner of the 4th Peter Drucker Forum, the Austrian- born writer, teacher and consultant, who was once tagged as “the Man who invented management.” He liked to call himself a “social ecologist” – i.e. someone who deals with the man-made social environment in which we operate.   For two days last week, an eclectic mix of close to three hundred corporate executive, entrepreneurs and prominent members of Academia from all over the world gathered at the heart […]

Drucker our contemporary
by Stefan Stern

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Economic crisis, political uncertainty, the dangers of extremism: these things haunt us today just as they shaped and influenced Peter Drucker many decades ago. Out of the tumult of the 1930s and 40s emerged the steady voice of the original and best management guru. What would he be saying now?   As the British politician Nye Bevan once asked: “Why look into the crystal ball when you can read the book?” Drucker, of course, left dozens of books for us to study. But in spite of his impressive output we seem to have lost sight of some of his timeless ideas. How many meetings that you attend begin with an agenda and the word “objectives” […]