Still quoted often for his wisdom, management guru Peter Drucker was one of the most influential thinkers of the past century, and his theories hold a crucial role in Salient Management Company’s vision. Drucker’s philosophy revolutionized business management, and is widely regarded as doctrinal in the marketing world.
Among his many sage teachings, Drucker inspired companies to orient their focus toward the driver of all business: the customer. As Professor Frederick E. Webster outlines in his article, Marketing IS Management: The Wisdom of Peter Drucker, all things must unite to appeal to the customer through marketing and innovation, and a corporation must enable its employees to make the best decisions efficiently with the customer’s needs in mind:
[Drucker’s] focus was always on management in general, with an understanding of customers’ ever-changing needs, wants, and preferences as the driving force for business success. It was Peter Drucker who first offered a distinct view of marketing as the central management discipline by asserting that:
There is only one valid definition of business purpose: to create a customer… Because it is its purpose to create a customer, any business enterprise has two – and only the two – basic functions: marketing and innovation. They are the entrepreneurial functions. (Drucker)
By stressing the importance of customer orientation, Drucker established the raison d’etre for marketing as the most vital part of management, as a fundamental value for the organization.
To achieve financial and growth goals, your organization’s success lies in the customer. The Salient solution uses comprehensive customer insights to provide greater benefits to customer segments while improving profits and reducing risk. Learn more about what Salient can do for your organization by visiting salient.com.
Download Webster’s full article: Marketing IS Management: The Wisdom of Peter Drucker.