Make This the Year You Master the Art of Management: Top 5 MMN Stories
The world is awash with management gurus, leadership books and flimsy articles listing “the top 10 things every executive should know.”
The truth is, it was Peter F. Drucker who had formulated the most fundamental principles for effectively running any organization -- be it a corporation, nonprofit, government agency, startup or small business.
Countless industry titans have attributed their success to the teachings of Drucker, including Jack Welch, the former legendary CEO of GE and Jeff Bezos, founder of Amazon and Forbes’ richest person on the planet.
While the future of work continues to change, Drucker’s thought leadership remains timeless. At MMN, we break down his management theories into implementable tactics.
Here are some of our most-read guides and check into MMN weekly to internalize the best practices for strategic leadership.
When it comes to managing millennials, so-called experts have it all wrong. Instead, the answers to effectively leading the youngest generation in the workforce can be found in a simple theory Peter F. Drucker formulated 40 years ago.
Drucker, the founder of modern management theory, coined the term “knowledge worker.” These types of employees, as opposed to manual workers, which dominated the labor force before the 20th century, primarily handles the gathering and use of information.
Once you learn to motivate and lead knowledge workers, you’ll discover that it’s unnecessary to develop a specialized management approach for millennials. [Read more]
Peter F. Drucker told a great story of the first time someone asked him the question “What do you want to be remembered for?”
When I was thirteen, I had an inspiring teacher of religion, who one day went right through the class of boys asking each one, "What do you want to be remembered for?”
None of us, of course, could give an answer. So he chuckled and said, “I didn't expect you to be able to answer it. But if you still can't answer it by the time you're 50, you'll have wasted your life.”
Just asking yourself this question in a thoughtful and thorough way can provide direction and purpose to life's never-ending challenges. [Read more]
Peter F. Drucker taught us maximization of profit in business is a meaningless concept.
Most organizations that survive typically trade off short-term profits for long-term growth, usually by investing in new opportunities that could become tomorrow's breadwinners.
If the market leader does not respond to clearly emerging niches, rest assured newcomers and former second rate competitors will craft products and services that fit the needs of specific segments.
The trick is to associate, adapt, magnify, minify, substitute and rearrange. In this Ed's Ink column, MMN's editorial staff provides you with a unique opportunity learn from business masterminds and become a more effective competitor. [Read more]
While the western world has shifted to a knowledge-based workforce (think: desk jobs that involve less physical work), there are forces creating new manual labor opportunities.
Tech startups like Amazon, Boxed and Rent the Runway, for instance, hire programmers and developers to build apps as well as warehouse workers to manage inventories. When it comes to the small business landscape, blue-collar fields like construction and roofing are among the most lucrative.
Managers in emerging and traditional fields must understand the different skill sets required to lead the two types of employees—both equally important to the strength of the economy. Here are keys to motivating the two distinct types of employees. [Read more]
"No other area offers richer opportunities for successful innovation than the unexpected success." -- Peter F. Drucker