Drucker’s 5 key questions in a downturn

Drucker.jpgPeter Drucker wrote some of the most useful, and widely read, books on management. The title of one of his main works, ‘Management, Tasks, Responsibilities, Practices’, sums up his serious approach to the role.

This month is the centenary of his birth, and the Financial Times marks it with a report of a celebratory conference held in his birthplace, Vienna.

Drucker developed 5 key questions, to help managers “look out of the window and see what is visible, but not yet realised” by their competitors:

• What is our business (or mission)?
• Who is our customer?
• What does the customer value?
• What are our results?
• What is our plan?

These questions remain as powerful today, as they were when Drucker first developed them to help managers battle the major downturn of 1974.

About Paul Hodges

Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry. He also serves as a Global Expert for the World Economic Forum. The aim of this blog is to share ideas about the influences that may shape the chemical industry and the global economy over the next 12 – 18 months. It looks behind today’s headlines, to understand what may happen next in critical areas such as oil prices, China and Emerging Markets, currencies, autos, housing, economic growth and the environment. Please do join me and share your thoughts. Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.

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One Response to Drucker’s 5 key questions in a downturn

  1. Carlos Navarro 30 November, 2009 at 1:09 am #

    Not much to add. Drucker keeps it simple and effective. My only additional question would be “what makes us different?”

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