Book Report on Management Challenges for the 21st Century By Peter F Term Paper

Book Report on Management Challenges for the 21st Century By Peter F. Drucker - Term Paper Example As a teacher, philosopher, reporter and consultant, he had a very in-depth vision on politics, economics and social transitions which enabled him to guide his followers and readers with a wider and a modern perception of the management and its theories. Drucker authored more than twenty five books with his very debut scholastic work bearing the title, â€Å"The End of Economic Man† which was published in the year 1939. His book, â€Å"Management Challenges for the 21st Century† appeared in the year 1982 and provides an insightful and contemporary information for the benefit of individuals and organizations at the same platform as Drucker has almost united the two separate entities in his book and views their common objective towards the attainment of one common goal. Drucker views the 21st century as the period of â€Å"Profound Transition† as this era witnessed lots of social, political and economic upheavals starting from the World War to great Economic Depress ion. Drucker with his coherent knowledge and foresightedness tried to shape the course of business and management that he visions to classify the future course of commerce amid all the socio-economic and socio-political transitions across the globe. Management Challenges for the 21st Century: A Detailed Insight The era of 21st century is a time of metamorphosis according to Drucker. Amidst the structural changes taking place around, Drucker views five socio-political events that will certainly tend to shape the business and its strategy in the near future. He takes in to consideration the fall of birth rates in the developed countries of the world, transitions in the area of distribution of disposable income, paradigm shift and re-definition of corporate activities and performances, competition in the global market, and the growth of incongruence between the economic and political pragmatism as the factors that would influence much in the reshaping and reincarnating modern course of management, its strategies and businesses. Next, Drucker throws light on the issue of the requirements of leadership. He muses in an elegant style, â€Å"One cannot manage change. One can only be ahead of it†. He visions that in the era of the â€Å"new information revolution† influence of characteristics of which are very much evident in the modern commerce, it is important to focus on the information and its meaning and not on the technology through which it is collected. As regards to the productivity of the knowledge workers, Drucker in his epoch making documentation on modern business and its strategy captivated in the â€Å"Management Challenges of the 21st Century† makes a very contemporary and relevant commentary. He views that the nature of the work for a knowledge workers are quite different from that of the physical labourers and under this circumstance, knowledge workers unlike manual workers, must not be considered as costs but must be treated as c apital assets. And finally, he throws light on the responsibilities that knowledge workers must assume in management pertaining to area of their self-development and their career. Actually very few people influenced the course of business individually in the 20th century to the extent like that of Peter Drucker. He literally invented and redefined management as a discipline in the year 1950s. Before reshaping and redefining management as a major course of study, it was much