Monday, October 20, 2008

A Book for Turbulent Times

Peter Drucker was a visionary--and in Managing in Turbulent Times he foresaw the volatility of the global economy. In chapters on everything from adjusting for inflation and transnational world money to business policies for the world economy, Drucker focused on actions and strategies that will ensure a company's capacity to survive a blow, to adapt to sudden change, and to avail itself of new opportunities.

Last week, The Wall Street Journal re-printed a 1992 column by Peter Drucker, “Planning for Uncertainty,” to help businesses cope with the current financial turmoil. “Now with the imploding economy forcing companies to rip up their game plans, managers need sage advice more than ever,” the Journal said. “So, we hunted down some classic wisdom from Drucker himself. . . . Some of the details are rooted in that time, but much of it is timeless.”

In the same week, The Economist also turned to Drucker--publishing an article on his work--and driving home his visionary status with this short quote: "In the next economic downturn there will be an outbreak of bitterness and contempt for the super-corporate chieftains who pay themselves millions.”

Here's classic reading for today's managers and management students. To request a desk copy, use the form under Academic Resources.

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