Drucker begins the lesson establishing a class business simulation and discussing the challenges the simulation will present for students in the class. They proceed to discuss a case study featuring a woman running a museum, then go on to talk about the worst run American companies. Drucker then reflects on the topic of innovation and how much creativity is derivative in the modern entertainment and business world. He moves on to consider the issue of universities and what defines them, settling on the definition of universities as conglomerates, and recounts the history of colleges and universities in the United States throughout the nineteenth century. The class then talks about what comprises a faculty as part of an educational “business,” and the purpose of museums. Drucker continues on the topic to state that one is never right about people or markets, and gives the example of hospitals to justify his belief that one only thinks about certain places or services when they need them. They then ponder the topic of managing people in academia, and how academia is very reactionary and eager to maintain the status quo. Drucker proceeds to the topic of advertising and how it tries to anticipate the buyer’s mind, and the extent to which this can and cannot be predicted accurately. He then describes how one should not focus on what is right in business and negotiation, but, rather, on what is logical--logic should come first because one must first ask what is right, and think through what is right. Drucker further contends that the secret to successful negotiation is to know what is important to the other party and unimportant to oneself, and vice versa. From that realization, one is able to offer concessions based on what is right.
Drucker, Peter F. (Peter Ferdinand), 1909-2005 Claremont Graduate University Claremont Graduate School Claremont Graduate University-Faculty Claremont University Center Compromise (Ethics) Museums Innovation Universities and colleges Universities and colleges - Faculty Business Hospitals Management Advertising Negotiation Logic Case study method Academics (Persons)
Source
Original recording, February 7, 1978; Drucker Archives; Box 68
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