A Class with Drucker - Headway | Work on yourself

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IF YOU KEEP DOING WHAT WORKED IN THE PAST ■ 55 How to Recognize the Future Despite the need for forward thinking, it would be foolish, even dangerous, to abandon successful products, organizations, strategies, or businesses while they are still very profitable and useful. When is the airline example about forward thinking, and when is it a costly waste of time and “not sticking to one’s knitting?” <strong>Drucker</strong> himself agreed that tactical modeling of success works. How then can we recognize the possible onset of environmental conditions of significant magnitude that we must prepare for revolutionary change? To do this, consider implementing the following practices: ■ Make an effort to know what’s going on, not only in your industry, but in the world. Familiarize yourself not only <strong>with</strong> new products, but <strong>with</strong> trends in the environment that could remotely affect your operations in future years. This means a regimen of continually reading of trade journals, newspapers, the Internet, and other relevant media and thinking about what this means or will mean in the future. You should never stop this as a process. ■ Ask yourself not what will happen, but what can happen, based on current and anticipated developments. Play a “what if” game <strong>with</strong> your present business. What would you do if . . .? ■ Watch developments closely. If sales drop over several quarters, find out why. Do not assume that everything will “return to normal.” There is no normal. If sales increase in certain areas, also ask why. When the American automobile first tried to emulate the small foreign cars, mostly Volkswagen in those days, they failed miserably. The Ford Falcon, Plymouth Valiant, and Chevrolet Chevette all lasted but a few years as sales dropped every year. However, only Ford noted and capitalized on the fact that as sales were falling, certain options, such as a padded dash, bucket seats, and “four-on-the-floor” gear shift options, were all increasingly requested. Ford connected the dots and developed the Mustang—a spectacular success. ■ Recognize that nothing lasts forever. Prepare yourself mentally for change and take immediate action when necessary, regardless of your previous investment in time, money, or resources. Never forget the accountants’ credo that sunk costs are sunk costs, and that nothing lasts forever. ■ While you should not change just for the sake of change, establish a pro-
56 ■ A CLASS WITH DRUCKER gram of continual review of every product, strategy, tactic, and policy. Aggressively seek opportunities to change and use change to stay ahead of the competition, to make what you are currently doing obsolete. ■ Adopt new ideas; and change from previously successful methods to ones that are even more successful for the future. In this way, you’ll not only succeed, you’ll succeed in a big way. <strong>Drucker</strong> Lesson Summary Companies that cling to their past successes will eventually fail, sometimes in a spectacular way. Change is inevitable if you are going to stay successful. Be ready to turn on a dime and abandon everything that has made you what you are. Better yet, be a forward thinker and create your own changes and your own future.
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A C L A S S W I T H D R U C K E R
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A Class wi
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C O N T E N T S Acknowledgments and
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A C K N O W L E D G M E N T S A N D
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F O R E W O R D Bill Cohen was the
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core competencies, and we also chal
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I N T R O D U C T I O N Peter <stro
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C H A P T E R O N E How I Became th
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HOW I BECAME THE STUDENT ■ 3 retu
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Page 26 and 27: C H A P T E R T W O Drucker
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THE OBJECTIVE OF MARKETING ■ 105
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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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