Posted: September 17th, 2017
In the article, “What Executives Should Remember”, different excerpts from Peter F. Drucker’s writing provides insightful strategies to help executives in establishing effectiveness in management. The articles are a nugget of management wisdom and strategies that any business leader would need to integrate in his or her management practice in order to maintain and/or improve a company‘s success. Maintenance of a company’s success on the basis of conventional business theories is becoming an elusive dream because of endemic challenges in the business environment. Essentially, sticking to a business management routine without constant reflection makes it ripe for a business operation model to gradually become obsolete thus predisposing a business to risks of failures.
There are several important management strategies that Drucker has advanced in the article and which are essential for success in any business. However, the point on mission setting for a business is a fundamental cornerstone of business success in the world today. An organization’s mission helps in orienting management, board and staff in directing their energies on the identified courses of action to help an organization in achieving its long and short-term goals. An organization’s goal is more or less similar to an individual’s purpose in life. It is essentially arduous attaining any success in life without developing a clear-cut purpose which should direct one’s course of action toward attaining the ultimate goals of a purpose. As a consequence, organizational mission statement should not just be a catchy statement of anticipated products that a company would wish to deliver to the market, but what a company can possibly deliver to its clients within the confines of its opportunities and challenges.
As a client who buys products ranging from electronics to other household items, frustrations of buying item only to realize later that its functionalities are not in sync with what a company promises is always disheartening. This is the reason why Drucker (2009, p.148), pointed out that a “mission serves as a constant reminder of the need to look outside the organization not only for ‘customers’ but also for measures of success.” The mission and objectives of a company should always follow in line of a business’s specialization.
Corporate American has numerous companies that can be listed herein as shining examples of companies that have very clear-cut missions and have becoming giants in their own fields of specialization. One of the best cases to illustrate the value of clear-cut mission statement is Apple Inc. In the last quarter of 2014, Apple Company entered history books by posting the largest profit margins in American corporate sector after selling a record 74.5 million iPhones in the last quarter of 2014 (Goldman, 2015). It was not by sheer luck that the company born towards the end of 1970s posted a humongous profit margin. Most notably, the huge profit was coming after the passing on of the legendary technology guru and co-founder, Steve Jobs. In this case herein, one can see empirical evidence of the vitality of a clear-cut mission. Part of the company’s mission underscore that company’s focus on bringing the best computing experience to users through its Macintosh (Mac) computers and other Apple products through innovation (Johnson, Li, Phan, & Trinh, 2012). The evolution of Mac computers to iMac of which the late Jobs was the brainchild in launching when he was the company Chief Executive Officer (CEO) realized sales of estimated 0.8 million units back in 1998. The continual success of Apple Inc’s products is closely dependent on evaluation of market satisfaction and continual innovation to even better computing experience for users. The case of Apple’s success indicates how immense, a company’s mission could become when everyone in a company orient their efforts toward realization of a company’s objectives in sync with the mission.
Drucker, P.F. (2009). What executives should remember. Harvard Business Review, 144-52.
Goldman, D. (2015). Apple just posted the best quarter in corporate history. CNN Money. Retrieved from http://money.cnn.com/2015/01/27/technology/apple-iphone-earnings/
Johnson, K., Li, Y., Phan, H., & Trinh, H. (2012). The innovative success that is Apple, Inc. Marshall University: Marshall Digital Scholar. Retrieved from http://mds.marshall.edu/cgi/viewcontent.cgi?article=1420&context=etd
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