Revisiting Drucker's theory

Abstract

Purpose -This paper sets out to review the business history of consumerism and to ask whether over-consumption is leading to an unacceptable level of inappropriate social behavior that is detrimental to both society and business. Design/methodology/approach -The paper reviews Peter Drucker's writings on management and explores the meaning of consumerism and how it could have led to the over-use of marketing. The paper discusses how the word "consumerism" has evolved and brings attention to the role of the internet in consumerism. It explains why poor knowledge management strategies are presenting a new set of challenges for business. Finally, it discusses the reasons why the balance of power between businesses and consumers needs to revert to a status of equilibrium. Findings -The paper contends that the growth of consumerism has led to the over-use of marketing and it explains why, in twenty-first century marketing, social responsibility should be extended to a wider group of stakeholders that includes government, businesses and consumers. Practical implications -The "consumer is king" concept has implications for management because of the emphasis businesses have placed on their customers. The paper asks managers to review their knowledge management systems and processes. Electronic document management systems (EDMS) and business process management systems (BPMS) will protect corporations from some of the cybercrime examples discussed here. Originality/value -The research reviews Drucker's work on knowledge management and asks why management continues to fail to implement appropriate knowledge-based systems for protecting their business.

Learning from the past to envision the future: a five-year review 2005-2009

“…Drucker also applied his beliefs to marketing in that meeting consumers' expectations produces ethical and economic well-being and cautioned against overconsumption as a false means to happiness. Today's technology better balances the producer-consumer power base and reinforce Drucker's ideas about relationship and service marketing (Yani-de-Soriano and Slater, 2009). We see that Drucker consistently affirmed the interconnection of society, economics, politics, organizations and individuals as parts of a system.…”

The reestablishment of the Journal of Management History

“…Despite the categorization of articles into three distinctive focuses, it should be noted that there is some overlap among the categories. One cannot suggest an argument in a topic article without the mentioning of significant contributors to some concepts or ideas (Yani-de-Soriano and Slater, 2009). Similarly, a person paper and an event paper may also include a conservable amount of discussion of an individual's experience or the key players in an event (Nyland and Heenan, 2005;Morgan, 2006).…”

“When asked what I do, I say: ‘I write’”: a systematic text analysis of Peter Drucker’s writings

“…Prior research has explored Drucker’s theological and philosophical influences and the ways in which they inform his ideas (Fernandez, 2009; Kurzynski, 2009; Maciariello and Linkletter, 2011; Malcolm and Hartley, 2009; Meynhardt, 2010; Toubiana and Yair, 2012). Others have mined Drucker’s texts for themes and material relevant to modern scholars and practitioners of management (Chong, 2013; Medlin, 2012; Oyler and Pryor, 2009; Uslay et al , 2009; Wartzman, 2012; Yani-De-Soriano and Slater, 2009). Overall, many authors note Drucker’s contributions to not just corporate management but also to nonprofit institutions and government (Beatty, 1998; Jackson, 2010; Orr, 2010; Tarrant, 1976).…”