Rick Wartzman, director of the Drucker Institute, on what the Chinese need to learn from the late and great Peter Drucker. An excerpt:
Earlier this summer, I took part in a symposium at Claremont Graduate University in California, where a group of Chinese entrepreneurs expressed serious concerns that in the eyes of far too many young people in their country, becoming rich and being ethical are somehow mutually exclusive.
The occasion for this gathering, which drew attendees from 10 different nations and all over the U.S., was to discuss the work of the late Peter Drucker, the renowned management philosopher who held that "free enterprise cannot be justified as being good for business; it can be justified only as being good for society."
Drucker, who died two years ago at age 95, was no starry-eyed sloganeer. And he sure wasn't against making money. "Actually," he wrote, "a company can make a social contribution only if it is highly profitable."
[Need I add that many American entrepreneurs require the same message?]