What is a Business?

Who was Peter Drucker?

• Doctor

• NYU Professor in Management

• Anthropologist

• Journalist

Peter got a doctorate in what?

• Public Law

• International Law

• National Law

• Business Administration

What university did he attend?

• Oxford University

• University of Florida

• Goethe University Frankfurt

• Sussex University

Were business schools a new thing back in Peter Drucker's time?

• Yes

• No

What were the 2 Entrepreneurial Factors?

(a)  

How did Marketing serve its purpose?

• Convinces people to become customers

• Business must produce better or more economic goods and services

How did Innovation serve its purpose?

• Convinces people to become customers

• Business must produce better or more economic goods and services

What does Drucker claim about "The Legitimacy of Management"?

• Management has accepted its own social function

• Management has not accepted its own social function

Name the case that had the outcomes of monopoly and dismantled firms. (The Legitimacy of Management)

(a)  

What is a business according to Peter Drucker?

• Create and keep a customer

• Profitability

• A company cannot profit and make a contribution to society