BUSINESS GURU DRUCKER DIES AT 95
CLAREMONT - 11/13/05 - Corporate innovator and business guru Peter Drucker has died.
Revered as the father of modern management, Ducker died Friday at age 95 of natural causes at his home in Claremont, east of Los Angeles.
According to many international business management professionals, a mere statement from Peter Drucker "could change the way some of the nation's most powerful corporate leaders ran their businesses."
Drucker explained his principals - stressing innovation, entrepreneurship and strategies for the changing world - in plain language "that resonated with ordinary managers," said former Intel Corp. Chairman Andy Grove.
"Consequently, simple statements from him have influenced untold numbers of daily actions," he said. "They did mine over decades."
Hailed by Business Week magazine as "the most enduring management thinker of our time," his techniques have been used by executives at some of the biggest global companies in corporate America, including Intel and Sears, Roebuck & Co.
Drucker was considered visionary for his recognition that dedicated employees are key to the success of any corporation, and that marketing and innovation should come before worries about finances.
Displaying a knack for identifying sea changes in business and economics years in advance, he foresaw the emergence of a new type of worker whose occupation would be based on knowledge, not physical labor or management.
Born in Vienna, Ducker was educated there and in England. He received a doctorate in international law while working as a newspaper reporter in Frankfurt, Germany and remained in Germany until 1933, when one of his essays was banned by the Nazi regime.
After working as an economist for a bank in London, he moved to the US in 1937 securing a teaching posts, first at Sarah Lawrence College, and then at Bennington College in Vermont, where he taught politics and philosophy.
He left Bennington for New York University's graduate business school where he served as a professor of management for more than 20 years.
In the early 1940s, Drucker was invited to study General Motors' inner workings, an experience that led to his 1946 management book, "Concept of the Corporation."
Over the course of his career, he wrote more than 30 books and scores of articles.
Beginning in 1971, he taught a course for mid-career executives at Claremont Graduate School in Claremont, California, which, in 1987, named its business school in his honor.
Drucker also founded the New York-based Peter F. Drucker Foundation for Nonprofit Management, known since 2003 as the Leader to Leader Institute.
In 2002, he was awarded the National Medal of Freedom by President George Bush in recognition for his work in the field of management.
He also held honorary doctorates from universities in the US, Belgium, Czechoslovakia, Great Britain, Japan, Spain, and Switzerland.
After the big stock market decline of October 1987, Drucker said he had expected it, "and not for economic reasons, but for aesthetic and moral reasons."
"When you reach the point where the traders make more money than investors, you know it's not going to last," he said.
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