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examining_the_theoretical - The Emerald Research Register...

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Examining the theoretical inspirations of a management guru Peter F. Drucker and the Austrian School of Economics Timothy S. Kiessling Department of Management, Operations, and Marketing, California State University, Turlock, California, USA, and R. Glenn Richey Department of Management and Marketing, Culverhouse College of Commerce and Business Administration, Masterson Graduate School of Business, The University of Alabama, Tuscaloosa, Alabama, USA Keywords Management gurus, Entrepreneurialism, Management theory, Marketing theory Abstract This manuscript discusses the contributions of Peter F. Drucker and the seminal influences on his logic made by the Austrian School of Economics. According to our research, Drucker focused on four critical elements of the Austrian School: an interdisciplinary approach and philosophical sophistication; the vision of market competition as an endless dynamic process (creative destruction, entrepreneurship); the firm as a social entity and as a depository of knowledge; and the role of the government. The research also suggests that Peter Drucker’s prolific legacy has significantly influenced modern management theory and practice through its grounding in Austrian School logic. One of the greatest influences on modern management: Peter F. Drucker According to a recent book on management gurus, Peter Drucker is one of the few thinkers in any discipline who can claim to have changed the world: he is the inventor of privatization, the apostle of a new class of knowledge workers, the Champion of management as a serious discipline. Drucker has been called everything from “the father of management” to “the man who changed the face of industrial America” to “the one great thinker management theory has produced (Beatty, 1998, p. 87). His insights and work have a wide influence on leaders and organizations throughout the world. Drucker is also the foremost philosopher of world management practice (Wren and Greenwood, 1998, p. 198). Peter F. Drucker was honored recently as “ the ” guru of management thought on his 90th birthday in The Wall Street Journal . Drucker has published thousands of manuscripts, 26 books and given tens of thousands of lectures over the past seven decades. His works have been translated extensively for international managers. There seems to be no stopping his continued proliferation of management advice. Drucker has produced volume upon volume of influential managerial ideas and lessons. Yet, the question remains: “What school of thought has been the most influential in the development of his logic?” The Emerald Research Register for this journal is available at The current issue and full text archive of this journal is available at www.emeraldinsight.com/researchregister www.emeraldinsight.com/0025-1747.htm Peter F. Drucker and the ASE 1269 Management Decision Vol. 42 No. 10, pp. 1269-1283 q Emerald Group Publishing Limited 0025-1747 DOI 10.1108/00251740410568962
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Great thinkers are foundationally influenced by lifetime experiences. These experiences structure their processes of thought and direct
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