Peter Drucker: A business that does not show a prot at least equal to its cost of capital is irresponsible; it wastes

societys resources. Economic prot performance is the base without which business cannot discharge any other responsibilities, cannot be a good employer, a good citizen, a good neighbor. But economic performance is not the only responsibility of a business any more than educational performance is the only responsibility of a school or health care the only responsibility of a hospital. Every organization must assume responsibility for its impact on employees, the environment, customers, and whomever and whatever it touches. That is social responsibility. But we also know that society will increasingly look to major organizations, for-prot and non - prot alike, to tackle major social ills. And there we had better be watchful, because good intentions are not always socially responsible. It is irresponsible for an organization to acceptlet alone to pursueresponsibilities that would impede its capacity to perform its main task and mission or to act where it has no competence. Management is a timeless, human discipline. It was used to build the Great Wall of China, to erect the Pyramids, to cross the oceans for the first time, to run armies. Management is tasks. Management is discipline. But management is also people. Every achievement of management is the achievement of a manager. Every failure is the failure of a manager. People manage, rather than forces or facts. The vision, dedication and integrity of managers determine whether there is management or mismanagement. There is only one valid definition of business purpose: to create a customer. Markets are not created by God, nature or economic forces, but by businessmen. The want they satisfy may have been felt by the customer before he was offered the means of satisfying it. It may indeed, like the want of food in a famine, have dominated the customers life and filled all his waking moments. But it was a theoretical want before; only when the action of businessmen makes it an effective demand is there a customer, a market. An organization is not an end in itself, but a means to an end of business performance and business results. Organization structure is an indispensable

means, and the wrong structure will seriously impair business performance and may even destroy it. The first question in discussing organization structure must be: What is our business and what should it be? Organization structure must be designed so as to make possible the attainment of the objectives of the business for five, ten, fifteen years hence. Seven new tasks for the manager of the future. He wrote that tomorrows managers must do the following:

Manage by objectives. Take more risks and for a longer period ahead. Be able to make strategic decisions. Be able to build an integrated team, each member of which is capable of managing and of measuring his own performance and results in relation to the common objectives. Be able to communicate information fast and clearly. Traditionally a manager has been expected to know one or more functions. This will no longer be enough. The manager of the future must be able to see the business as a whole and to integrate his function with it. Traditionally, a manager has been expected to know a few products or one industry. This, too, will no longer be enough.

Towards the end of his brilliant career, Druckers energies were more focused on non-profit organizations. He left a rich reservoir of knowledge and principles that no effective manager can do without.