adminaddress the growing need for business leaders who are innovative and who have the knowledge and the skill to do more with much less, in order to ensure long term sustainability for future generations to survive,” said Dr Straub.
Dr Straub, who has dedicated much of his research to the work of the “father of modern management”, Mr Peter Drucker, said that the whole world has a lot to learn from Mr Drucker.
“Peter Drucker saw management as a key role in society and who believed in the role of a leader whose cognitive skills and tacit knowledge are critical for autonomy,” said Dr Straub. He said that according to Drucker’s principles, innovation is the chief function of business and that if the right management and organisational framework are not in place long-term stability will not be reached. He refers to the African continent, which in his opinion holds tremendous development opportunities.
“The problem is that countries in Africa are lacking the right leadership qualities and this makes it difficult for autonomy to be achieved,” said Dr Straub.
Globally, the public and private sector management are under a lot of pressure as they face extreme challenges that have been left behind by the credit crunch, which include managing complexity, the speed of change, predictability and ambiguity.
“The recipe is to cut cost and expenses like many companies have done to keep their profit commitment to the market,” said Dr Straub.
Dr Straub advised today’s business that they have to unleash human potential and be innovative.
He said that in order to do so businesses need to break down the walls of the old Industrial Age paradigm, as their top-down management approach is not the right path towards attaining future growth. — Business Correspondent.
Online Reporter