“The CEO is just a hired hand,” the guru cautions, quoting 19th-century financier J.P. Morgan. Drucker thinks today’s executives have forgotten that, and he wants you to change it.
Start by carrying solid management principles with you to the top. Example: Smart CEOs methodically build a management team to help them make decisions. But many of today’s celebrity CEOs have no idea what a team is. Your task: Cultivate teams as you rise through the ranks, and maintain them through trust and respect.
Next, keep your greed in check. Compensation inflation for CEOs is wrecking the management teams that do exist, Drucker says.
Morgan formulized that CEOs should earn about 20 times that of the rank-and-file worker. Today, Drucker says, it’s more like 400 times that.
“I’m not talking about the bitter feelings of the people on the plant floor,” Drucker says. “They’re convinced their bosses are crooks, anyway. It’s the mid-level management that is incredibly disillusioned.”
— Adapted from “Peter Drucker Sets Us Straight,” Brent Schlender, Fortune.
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.
The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/7447/peter-druckers-call-to-future-ceos "