The Wall Street Journal on Oct. 17 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 explained. “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 piece, Drucker advises companies, at a time of change and volatility, to make sure they’re playing to their strenghts. “Matching a company’s strengths to the changes that have already taken place produces, in effect, a plan of action,” he wrote. “It enables a business to turn the unexpected into advantage. Uncertainty ceases to be a threat and becomes an opportunity.”
To read the column in its entirety, click here.
Meanwhile, The Economist magazine on Oct. 17 ran its own story on Drucker, proclaiming him “the most enduring guru of them all.” The article pointed to Drucker’s uncanny prescience, quoting him in 1997 as saying: “In the next economic downturn there will be an outbreak of bitterness and contempt for the super-corporate chieftains who pay themselves millions.”
To read The Economist piece in its entirety, click here.