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During Peter Drucker’s lecture regarding new demands on the executive he begins by discussing the new demands that confront an organization and that an executive must learn to handle and compares them to old demands on the executive, such as, cash flow. He explains that these new demands are the result of fundamental social changes and that one cannot manage them by way of predictions. Drucker then discusses Henry Ford and how he excelled by keeping his prices low and his production high because he understood the social changes that were taking place at the time and was able to take advantage of them. He then explains the history of tools, such as the hammer and the screwdriver while discussing his plans to change his thermostat, which he uses as an analogy for new demands facing the executive. Later in his discussion Drucker analyzes why the period between when new science becomes technology is extremely long and points out an exception to this observation would be some urgent crisis that drives a society too speed up the process, such as the space race during the Cold War.