1. What did Drucker mean when he talked about ‘the economists’ model of the firm’? 2....

1. What did Drucker mean when he talked about ‘the economists’ model of the
firm’?

2. What are the main benefits assumed to flow from a merger and consolidation
or takeover? Why do so many mergers and takeovers fail to deliver improved
financial performance?

Expert Solution

1. Peter Ferdinanad Drucker is considered as the father of modern management. The organisation and practive of management firms today is largely derived from the thinking of Peter Drucker. When he talked about 'the economists model of the firm' he :-

was always against bureaucratic system because it has hierarchy and rules, that means the organisation become so monotonous and routine. Most of the bureaucratic system are never innovative and creative in nature.
wanted the firm be creative and innovative. It happens by introducing new ideas or with the combination of new and old ideas or adapted ideas form others , but the firm shoud be innovative and creative.
told that the management should have right perspective. As we know the management should have skills and techniques with it, but according to Drucker the management should have right perspective , that means management should understand where to use what kind of skills and where to use what kind of techniques.
said that management needs more practice compared to science.
believed that management has no any function, it is an organ of organsiation which contributes to the missions of the firm and should be helpful in making the work as well as workers productive. Apart from this the management should fulfill the social responsibility along with profit making.
suggested that the management should ;

set objectives , in other words goals should be set which are clear and defenit.
take right decision regarding the resources like money, manpower and material.
organise the above said resources ie. money, manpower and matertial for their optimum utilisation.
motivate people so that they will work for organisatin with high commitment level.

said that the organsiation structure should be based on perfromance not on position and the number of levels of organisation should be lessen.
highlighted three things such as Activity Analysis, Decisions Analysis and Relationship Analysis.
promoted Centralised control over decentraised structure among top level management, middle level management and lower level management.
gifted the concept of Management by Objective which involved jointly setting goals, periodic reviewing, allocating rewards based on progress, control if goals are not fulfilled.

Rahul Sunny answered 1 year ago

1.What does Drucker mean when he suggests thatcommunication should be sender and receiver oriented?2.What...

1.What does Drucker mean when he suggests that communication should be sender and receiver oriented?2.What does Drucker mean when he suggests that Management as a social science is always changing?3.Why did business and non-profit leaders in the U.S. avoid using the word, 'management,' during the late 1920's and early 1930's?

1. What does Tilly mean when he says that some economists criticize progressives for killing the...

1. What does Tilly mean when he says that some economists criticize progressives for killing the goose that lays the Golden egg ? Why do advocates of unfettered capitalism defend inequality ? Are they right? Would Raising taxes on rich people slow economic growth ? 2. Who are “essential workers” during the current pandemic? Since they are “essential,” are they paid high wages? Should they be?

I. What did Deng mean when he called for a “legal democracy?” Did he favor multiple...

I. What did Deng mean when he called for a “legal democracy?” Did he favor multiple political parties with elections? He wanted China to establish a legal framework to conduct and encourage business and trustworthiness for foreign investment. (Describe what legal transformation that China was adopting? (See pages 100-103.)

1. What does Stanton mean when he refers to the “element of 2+2?” 2. What does...

1. What does Stanton mean when he refers to the “element of 2+2?” 2. What does Stanton say about temperament?

What did Truman mean when he said that Korea was the "Greece of the Far East"?

In discussing the maturity model and the duration model, we talked a lot about the market...

In discussing the maturity model and the duration model, we talked a lot about the market value of equity.(i)What is meant by the market value of equity?(ii)What does it mean when the market value of equity is negative?(iii)Give examples of shocks that might cause the market value of an FI to become negative (whereas it was positive before the shock)?(iv)What factors could reduce the likelihood of an FI’s equity turning negative?

What did classical economists say about prices in terms of the labor theory of value? Did...

What did classical economists say about prices in terms of the labor theory of value? Did Karl Marx expand or differ on this? How did Alfred Marshall see prices?

What did Keynes mean when he said “In the long run, we are all dead”?

What did Keynes mean when he said “In the long run, we are all dead”?Does that mean that we should focus on achieving short term goals and forget about planning for the future?

What did Skinner mean when he suggested that personality is merely one’s history of reinforcement? In...

What did Skinner mean when he suggested that personality is merely one’s history of reinforcement? In what ways does Skinner’s treatment of personality differ from the trait theories developed by Allport, Cattell, and Eysenck? What similarities does Skinner’s approach share with trait theories?

1. When economists refer to land as a productive input for a firm, they are not...

1. When economists refer to land as a productive input for a firm, they are not only thinking about land itself but also the: A. buildings and machinery that are on the land and that serve as productive inputs. B. natural resources that come from the land such as oil, minerals, and trees. C. alternative uses for the land such as housing, agriculture or a site for needed infrastructure. D. gains that landowners receive from the use of their land...

Question