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A <strong>Class</strong> <strong>with</strong> <strong>Drucker</strong> The Lost Lessons of the World’s Greatest Management Teacher BY WILLIAM A. COHEN, PhD AMERICAN MANAGEMENT ASSOCIATION NEW YORK ■ ATLANTA ■ BRUSSELS ■ CHICAGO ■ MEXICO CITY ■ SAN FRANCISCO S H A N G H A I ■ T O K Y O ■ T O R O N T O ■ W A S H I N G T O N , D . C .
Special discounts on bulk quantities of AMACOM books are available to corporations, professional associations, and other organizations. For details, contact Special Sales Department, AMACOM, a division of American Management Association, 1601 Broadway, New York, NY 10019. Tel: 212-903-8316. Fax: 212- 903-8083. E-mail: specialsls@amanet.org Website: www.amacombooks.org/go/specialsales To view all AMACOM titles go to: www.amacombooks.org This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold <strong>with</strong> the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. Library of Congress Cataloging-in-Publication Data Cohen, William A., 1937– A class <strong>with</strong> <strong>Drucker</strong> : the lost lessons of the world’s greatest management teacher by William A. Cohen. p. cm. Includes index. ISBN 978-0-8144-0919-0 1. Management. 2. Executives—Training of. 3. <strong>Drucker</strong>, Peter F. (Peter Ferdinand), 1909-2005. 4. Cohen, William A., 1937– I. <strong>Drucker</strong>, Peter F. (Peter Ferdinand), 1909-2005. II. Title. HD31.C589 2007 658—dc22 2007020976 © 2008 William A. Cohen All rights reserved. Printed in the United States of America. This publication may not be reproduced, stored in a retrieval system, or transmitted in whole or in part, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, <strong>with</strong>out the prior written permission of AMACOM, a division of American Management Association, 1601 Broadway, New York, NY 10019. Printing number 10 9 8 7 6 5 4 3 2 1
Page 2 and 3: A C L A S S W I T H D R U C K E R
Page 6 and 7: C O N T E N T S Acknowledgments and
Page 8 and 9: A C K N O W L E D G M E N T S A N D
Page 10 and 11: F O R E W O R D Bill Cohen was the
Page 12 and 13: core competencies, and we also chal
Page 14 and 15: I N T R O D U C T I O N Peter <stro
Page 16 and 17: C H A P T E R O N E How I Became th
Page 18 and 19: HOW I BECAME THE STUDENT ■ 3 retu
Page 20 and 21: HOW I BECAME THE STUDENT ■ 5 doct
Page 22 and 23: HOW I BECAME THE STUDENT ■ 7 “I
Page 24 and 25: HOW I BECAME THE STUDENT ■ 9 Duri
Page 26 and 27: C H A P T E R T W O Drucker
Page 28 and 29: DRUCKER IN THE CLASSROOM ■ 13 Mos
Page 30 and 31: DRUCKER IN THE CLASSROOM ■ 15 <st
Page 32 and 33: DRUCKER IN THE CLASSROOM ■ 17 ant
Page 34 and 35: C H A P T E R T H R E E What Everyb
Page 36 and 37: WHAT EVERYBODY KNOWS IS FREQUENTLY
Page 46 and 47: SELF-CONFIDENCE MUST BE BUILT STEP-
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SELF-CONFIDENCE MUST BE BUILT STEP-
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IF YOU KEEP DOING WHAT WORKED IN TH
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C H A P T E R S I X Approach Proble
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APPROACH PROBLEMS WITH YOUR IGNORAN
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C H A P T E R S E V E N Develop Exp
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DEVELOP EXPERTISE OUTSIDE YOUR FIEL
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OUTSTANDING PERFORMANCE IS INCONSIS
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THE OBJECTIVE OF MARKETING ■ 97 A
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THE OBJECTIVE OF MARKETING ■ 99 T
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THE OBJECTIVE OF MARKETING ■ 101
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The assembly line, especially the m
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ETHICS, HONOR, INTEGRITY, AND THE L
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C H A P T E R E L E V E N You Can
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YOU CAN’T PREDICT THE FUTURE ■
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experience, and know-how, financial
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C H A P T E R T W E L V E We’re A
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WE’RE ALL ACCOUNTABLE ■ 135 “
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WE’RE ALL ACCOUNTABLE ■ 137 wor
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WE’RE ALL ACCOUNTABLE ■ 139 The
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WE’RE ALL ACCOUNTABLE ■ 141 hap
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WE’RE ALL ACCOUNTABLE ■ 143 <st
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WE’RE ALL ACCOUNTABLE ■ 145 <st
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C H A P T E R T H I R T E E N You M
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YOU MUST KNOW YOUR PEOPLE TO LEAD T
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PEOPLE HAVE NO LIMITS, EVEN AFTER F
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C H A P T E R F I F T E E N A Model
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A MODEL ORGANIZATION ■ 175 In cla
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A MODEL ORGANIZATION ■ 177 marsha
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A MODEL ORGANIZATION ■ 179 Squadr
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A MODEL ORGANIZATION ■ 181 Promot
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A MODEL ORGANIZATION ■ 183 and th
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A MODEL ORGANIZATION ■ 185 Howeve
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A MODEL ORGANIZATION ■ 187 The St
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I t C H A P T E R S I X T E E N The
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THE MANAGEMENT CONTROL PANEL ■ 19
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C H A P T E R S E V E N T E E N Bas
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BASE YOUR STRATEGY ON THE SITUATION
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C H A P T E R E I G H T E E N How t
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HOW TO MOTIVATE THE KNOWLEDGE WORKE
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What Do You Think Motivates <strong
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everyone gets them for the good of
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C H A P T E R N I N E T E E N <stro
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DRUCKER’S PRINCIPLES OF SELF-DEVE
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As I mentioned in an earlier chapte
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AFTERWORD ■ 247 articulate truths
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N O T E S CHAPTER 2 1. Simon London
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NOTES ■ 251 4. David A. Kaplan,
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Aburdene, Patricia, 221 accountabil
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Grant, Ulysses S., 166 growth, 229
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professional journals, 158 professi
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