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The Drucker Vision: Corporations, Managers, Markets, and Innovation

27 Pages Posted: 22 Aug 2009 Last revised: 27 Aug 2009

Richard L. Smith

University of California, Riverside - Anderson Graduate School of Management

Date Written: June 1, 2009

Abstract

This is the second of two essays on the influences of Peter Drucker’s exposure to proponents of the Austrian School of economics on his writing and philosophical views. In the first essay, “On the Foundations of the Drucker Vision,” I review the major influences that appear to have shaped much of his thinking, focusing mainly on post-World War I European history and the development of the Austrian School. In this essay, I review Drucker’s writing with the objective of tracing the how his views have been shaped by these influences. I focus, in particular on Drucker’s views of classical economics, the profit motive, corporate purpose, the value imperative, corporate social responsibility, managerial ethics, corporate purpose, innovation, pension funds, and the market for corporate control. The over-arching objective of both essays is to provide clearer interpretation of the meaning of some of Drucker’s most important and frequently misunderstood contributions.

Keywords: Peter Drucker, the Austrian School, Schumpeter

JEL Classification: B00, B25, B29, B31, N44

Suggested Citation

Smith, Richard L., The Drucker Vision: Corporations, Managers, Markets, and Innovation (June 1, 2009). Available at SSRN: https://ssrn.com/abstract=1459512 or http://dx.doi.org/10.2139/ssrn.1459512

Richard L. Smith (Contact Author)

University of California, Riverside - Anderson Graduate School of Management ( email )

Riverside, CA 92521
United States
951-827-3554 (Phone)

HOME PAGE: http://www.agsm.ucr.edu/

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