Drucker's Impact On Quality Of Life Essay

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Drucker and Entrepreneurship’s Impact on Quality of Life The late Peter F. Drucker wrote extensively on management, innovation, and entrepreneurship. In his writings, Drucker credited the “discipline of innovation,” or systematic management practices, as being the engine behind entrepreneurial success (1984, 1987, 1998). Furthermore, Drucker (1998) defined innovation as “the effort to create purposeful, focused change in an enterprise’s economic or social potential.”
Morris and Lewis (1991) offered a model to examine the effects of entrepreneurship on the quality of life in seven domains: economic, health, social, technological, work, institutional, and ecological. This paper will use Morris and Lewis’ framework to present a discussion of Drucker’s views on the broad societal impact of entrepreneurial activities. …show more content…

Drucker observed the period between idea conception and technological creation was lengthy. “Overall, the lead time involved is something like 50 years, a figure that has not shortened appreciably throughout history.” This begs the question whether Drucker would consider the short lead times of software development to be a new reality or a historical anomaly.
Work life. A functional effect of entrepreneurship in the work life dimension is “superior organizational performance due to improved productivity, quality and the development of new products, services & processes” (Morris & Lewis, 1991). Drucker credited the use of systematic management techniques for gains in business growth, efficiency and the development of management skills. Drucker cited the growth of two business chains—barbershops and psychiatric centers—as examples of the result of applying systematic management practices in entrepreneurial settings (Drucker,

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