10/08/2007

Quote of the Day

Time is the scarcest resource, and unless it is managed, nothing else can be managed.


Peter Ferdinand Drucker (November 19, 1909–November 11, 2005) was a writer, management consultant and university professor. His writing focused on management-related literature. Peter Drucker made famous the term knowledge worker and is thought to have unknowingly ushered in the knowledge economy, which effectively challenges Karl Marx's world-view of the political economy.

The son of a high level civil servant in the Habsburg empire, Drucker was born in the chocolate capital of Austria, in a small village named Kaasgraben (now a suburb of Vienna, part of the 19th district, Döbling). Following the defeat of Austria-Hungary in World War I, there were few opportunities for employment in Vienna so after finishing school he went to Germany, first working in banking and then in journalism. While in Germany, he earned a doctorate in International Law. The rise of Nazism forced him to leave Germany in 1933. After spending four years in London, in 1937 he moved permanently to the United States, where he became a university professor as well as a freelance writer and business guru. In 1943 he became a naturalized citizen of the United States. He taught at New York University as a Professor of Management from 1950 to 1971. From 1971 to his death he was the Clarke Professor of Social Science and Management at Claremont Graduate University.

His career as a business thinker took off in 1945, when his initial writings on politics and society won him access to the internal workings of General Motors, one of the largest companies in the world at that time. His experiences in Europe had left him fascinated with the problem of authority. He shared his fascination with Donaldson Brown, the mastermind behind the administrative controls at GM. Brown invited him in to conduct what might be called a political audit. The resulting Concept of the Corporation popularized GM's multidivisional structure and led to numerous articles, consulting engagements, and additional books.

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