Drucker's Impact On Quality Of Life Essay

1065 Words3 Pages
bulb-icon

Recommended: An essay on entrepreneurship

Drucker and Entrepreneurship’s Impact on Quality of Life The late Peter F. Drucker wrote extensively on management, innovation, and entrepreneurship. In his writings, Drucker credited the “discipline of innovation,” or systematic management practices, as being the engine behind entrepreneurial success (1984, 1987, 1998). Furthermore, Drucker (1998) defined innovation as “the effort to create purposeful, focused change in an enterprise’s economic or social potential.”
Morris and Lewis (1991) offered a model to examine the effects of entrepreneurship on the quality of life in seven domains: economic, health, social, technological, work, institutional, and ecological. This paper will use Morris and Lewis’ framework to present a discussion of Drucker’s views on the broad societal impact of entrepreneurial activities. …show more content…

Drucker observed the period between idea conception and technological creation was lengthy. “Overall, the lead time involved is something like 50 years, a figure that has not shortened appreciably throughout history.” This begs the question whether Drucker would consider the short lead times of software development to be a new reality or a historical anomaly.
Work life. A functional effect of entrepreneurship in the work life dimension is “superior organizational performance due to improved productivity, quality and the development of new products, services & processes” (Morris & Lewis, 1991). Drucker credited the use of systematic management techniques for gains in business growth, efficiency and the development of management skills. Drucker cited the growth of two business chains—barbershops and psychiatric centers—as examples of the result of applying systematic management practices in entrepreneurial settings (Drucker,

Show More
Related

  • Essay On Student Debt

    647 Words  | 2 Pages

    Entrepreneurship keeps the US economy flourishing, creating

    Read More

  • Annotated Bibliography Innovation Leadership

    2114 Words  | 5 Pages

    Annotation Bibliography - Innovation Leadership Innovation is a process of translating an idea or invention for new goods or services that create value. The innovative leaders are creative visionaries have huge ideas and motivate people around them to turn an idea into reality. If an organization incorporates some innovation into the realm of a head in a small business, there is a chance of continuous growth. To achieve imagination and communication, leaders must have confidence in self to make effective communication and imagination. Innovative leaders can be team leaders, managers, Chief Executive Officer (CEO) and other individuals who manage projects and people.

    Read More

  • Software Engineering Case Study

    2005 Words  | 5 Pages

    In Michiel van Genuchten’s case study “Why is Software Late? An Empirical Study of Reasons For Delav in Software Development” he explores the reasons why this might be the case. The study took place in a software development department that ran for approximately two years. The department was concerned with the “development and integration of the system software in the operating system and data communicating fields”. One hundred and seventy-five engineers were in control of roughly three hundred products. It is pointed out that the time spent on each activity was difficult to measure. As a result, there was a lack of responsibility and documentation of recorded hours. The difference between the data held by the project leaders was too large to be credible. The most significant finding of this case study is that only thirty percent of activities were finished according to plan. It was discovered that there was an ever-growing difference between subsequent phases of the project. It is pointed out that forty five percent of the cause for these overages was due to organizational related issues. To conclude the study various surveys were distributed to try and figure out why the estimation of phases were off by such a high amount. It turns out that many described an over optimistic plan and an underestimation of complexity and

    Read More

  • Annotated Bibliography To Knowledge Management

    844 Words  | 2 Pages

    The book has used peer-reviewed resources to enhance the use of professional approaches to innovation and management strategies by the readers who uses the book. The authors have given different management strategies and their practical application in business fields. As the title states, a strategy in business require innovative strategies for efficient development of the firm. More importantly, the book offers modern innovative ideas that need to be integrated with management strategies to develop modern businesses. The innovative approach provides a practical guide to the management strategies easing the execution of the strategies in the respectful environment. The book has given the strong relationships between innovation and strategies. These relationships are known to increase profitability in business organizations that use them efficiently. It offers how business managers can create successful value through innovation. Value creation in companies is done through examining untapped markets, clients ' needs and investing in new businesses. Therefore, this remarkable book helps readers in innovating and managing business

    Read More

  • Should IDEO Accept the Visor Project?

    1138 Words  | 3 Pages

    Kelley,T. (2005, Oct.). The 10 faces of innovation. Fast Company, 74-77. Retrieved 6th March’ 2014 from http://web.ebscohost.com/ehost/detail?vid=9&sid=1d6a17b7-c5f7-4f00-bea4 db1d84cbef55%40sessionmgr10&hid=28&bdata=JnNpdGU9ZWhvc3QtbGl2ZSZzY29wZT1zaXRl#db=bth&AN=18386009

    Read More

  • The Nature and Role of the Entrepreneur

    2041 Words  | 5 Pages

    Schumpeter and Knight had some similar points in their conceptualization of an entrepreneur. Both believed that innovation and initiation of change is a vital task of an entrepreneur. Since entrepreneurs generate capitalistic development, Schumpeter and Knight also considered them the driving force behind economic growth. The main difference between the two authors is their approach to uncertainty. Schumpeter firmly believed t...

    Read More

  • Social Entrepreneurship and South Africa

    1483 Words  | 3 Pages

    Socially, entrepreneurship empowers citizens, generates innovation and changes mind sets. These changes have the potential to successfully integrate developing countries into the global economy. Economically, entrepreneurship stimulates markets by not always inventing or producing new things but introducing and exploring new and better dimensions. The formation of new business leads to job creation and has a multiplying effect on the economy because it lead to economic growth and expansion; social entrepreneurs serve as wide-ranging examples of motivation, purpose, selflessness and ability, especially among the young generation, seeing other successful in their own ventures and making positive impact in society can encourage other young people to come with excellent ideas and try solving societal problems as well.

    Read More

  • Microsoft and Greiner’s Model of Organizational Growth

    1063 Words  | 3 Pages

    In the first stage of growth, the founders of an organization develop skills and create new products. Learning is a huge component of this phase of organizational growth. Entrepreneurs learn what works and what doesn’t. People’s behaviors are governed by organizational culture rather than by hierarchy (Jones, 2010).

    Read More

  • Business Model Innovation Essay

    866 Words  | 2 Pages

    Giesen et al. (2007) «Three ways to successfully innovate your business model», Strategy and Leadership, vol. 35, pp. 27 33.

    Read More

  • Entrepreneurship Essay

    1366 Words  | 3 Pages

    Nowadays, entrepreneurship becomes most popular career, where our government encourages our graduated student to involve in business so that unemployment will not happen in our country. Policymakers, academics, and researcher agree that entrepreneurship is a vital route to economic advancement for both developed and developing economics (Zelealem et al., 2004). Entrepreneurship has many types for example small business and others. Today small business, particularly the new ones, is the main vehicle for entrepreneurship, contributing not just to employment, social and political stability, but also to innovation and competitive power (Thurik & Wennekers, 2004).

    Read More

  • Women Entrepreneurship By Howard H. Stevenson And David E. Gumpert

    853 Words  | 2 Pages

    Globally, it is felt that entrepreneurship emerged as a progressive and developmental idea for the world of business, Scott (1986). Hence it is in the consideration that entrepreneurship is the vital ingredient not for the current era of globalization only, but also for the future potential performers for creating diverse opportunities, Mita (2002). Entrepreneurs are identified as creator, innovator

    Read More

  • Role of JumpStart in Fostering Entrepreneurship

    1379 Words  | 3 Pages

    In a conference discussing the importance of entrepreneurship in the 21st century, a startling statement was made “It is vital for the world economy to study the different tasks an entrepreneur has to accomplish because without entrepreneurs a world economy cannot exist.” (Ludwig Von Mises Institute Europe, 2015). This statement is sound is this age, where modern economy thrives on innovation and novelty from these model of entrepreneurs. And yes, “the different tasks and entrepreneur has to accomplish” are taxing and complicated. For these reasons, JumpStart was established. The organization’s mission is to help entrepreneurs navigate through the barrier of difficulties in their early days through various programs and services, in hope of promoting a healthy job growth and economic growth in Northeast Ohio. Firstly, this paper will introduce the history of JumpStart, Inc., followed by its initial startup program. Then, the paper will discuss JumpStart’s approach

    Read More

  • What Are The Importance Of Entrepreneurship?

    1844 Words  | 4 Pages

    Entrepreneurship is a key driver of our economy, wealth and the majority of jobs are created through entrepreneurship, and it also helps and educates people in terms of growth and realizing opportunities (Nolan, 2003). Entrepreneurship is also seen as one of the important contributing factor to local development (Nolan, 2003).

    Read More

  • Characteristics Of Amazon

    734 Words  | 2 Pages

    Innovation has become management 's new imperative. The proven management tools, techniques and clichés once embraced, are being challenged and shelved for a new set of rules and a new way of doing business. Business as usual doesn 't cut it any more. Enter innovation management.

    Read More

  • Implications Of Entrepreneurship Education: The Importance Of Entrepreneurship

    773 Words  | 2 Pages

    Entrepreneurship has been described as a “social process involving the efforts of individuals in activities that ultimately have economic implications at a regional and or national level” (O'Connor, 2013, p.559). Through the new businesses, entrepreneurs provide solutions to the problems that exist in the society. The entrepreneurs identify opportunities, develop new businesses and thereby ‘driving the economies forward through innovation, competence, job creation and by generally improving the wellbeing of the society’ (Cuervo, et al., 2007).

    Read More

More about Drucker's Impact On Quality Of Life Essay

Open Document