Marketing and innovation in the Drucker Management System

Journal of the Academy of Marketing Science · 2009 · Volume 37 · Issue 1

Abstract

Peter F. Drucker is well known for stating that there is only one valid purpose of a business: to create a customer. And that there are only two basic business functions: marketing and innovation. The body of material on management that he produced contains frequent references to this purpose and these functions, but Drucker never distilled the specific tasks within his management approach that result in implementing this purpose and these functions. This paper distills the executive practices and tasks that are necessary to implement this purpose and these functions and it does so using a systems framework.

Keywords

Purpose of a business, Key functions of a business enterprise, Implementing key tasks, Systems approach, Social responsibility, Knowledge work, Knowledge workers, Management system

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