Role of management and executives in the conceptual economy

Role of management and executives in the conceptual economy...

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Role of management and executives in the conceptual economy Posted on October 9, 2008  Filed Under  Conceptual economy Role of management in the conceptual   economy Jay Maharjan Role of management and executives in the conceptual economy  I was a student of Peter Drucker at Drucker School of management. I followed  Drucker’s work for over ten years. As the legendary management guru often said  that one could  not manage change, whether it was a  change in  market  demand, political climate or a change in socio-economic dynamics, but one could  and must  sense the change and prepare to stay ahead of the curve. With the  current changing climate of the global socio-political landscape, this statement  has never been more relevant.Before Peter Drucker literally  introduced formal  management to mega corporations of the likes of GM and GE, corporations had  run on an industrial, labor driven model instead of a knowledge based structure.  The knowledge economy that Drucker significantly contributed has survived and  operated effectively to this day. Well run companies learned to value knowledge  workers and define roles of management in a way that benefited the whole  organization and the national economy. As much as I commend and look up to  Drucker’s economic and management model based on ‘knowledge workers’ –  the term he famously coined, the time has come to rethink the roles of  management and administrators both in the private and government sectors.   For the last 50 years, the current management model survived in spite of critics  who complained that executive pay and the power they possessed were beyond  rational comprehension… and the market stayed steadfast stating that only time  would correct the coarse. That time is now. It is becoming  apparent that this  structure is not going to last very long. It will become increasingly  harder to 
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