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Examining the theoretical inspirations of a management guru: Peter F. Drucker and the Austrian School of Economics

Timothy S. Kiessling (Department of Management, Operations, and Marketing, California State University, Turlock, California, USA)
R. Glenn Richey (Department of Management and Marketing, Culverhouse College of Commerce and Business Administration, Masterson Graduate School of Business, The University of Alabama, Tuscaloosa, Alabama, USA)

Management Decision

ISSN: 0025-1747

Article publication date: 1 December 2004

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Abstract

This manuscript discusses the contributions of Peter F. Drucker and the seminal influences on his logic made by the Austrian School of Economics. According to our research, Drucker focused on four critical elements of the Austrian School: an interdisciplinary approach and philosophical sophistication; the vision of market competition as an endless dynamic process (creative destruction, entrepreneurship); the firm as a social entity and as a depository of knowledge; and the role of the government. The research also suggests that Peter Drucker's prolific legacy has significantly influenced modern management theory and practice through its grounding in Austrian School logic.

Keywords

Citation

Kiessling, T.S. and Glenn Richey, R. (2004), "Examining the theoretical inspirations of a management guru: Peter F. Drucker and the Austrian School of Economics", Management Decision, Vol. 42 No. 10, pp. 1269-1283. https://doi.org/10.1108/00251740410568962

Publisher

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Emerald Group Publishing Limited

Copyright © 2004, Emerald Group Publishing Limited

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