DWD20200414

David's Time With Peter F. Drucker 2020.4.14 There traditional views are now obsolescent. But the emerging American theorem that businesses should be run exclusively for the short-term interest of the shareholders also not tenable, and will certainly have to be revised. The future economic security of more and more people——that is, of the people who can expect to live into old age——is increasingly dependent on their economic investments——that is, on their income as owners. The emphasis on performance as that which most benefits the shareholders will therefore not go away. Immediate gains, whether in earnings or in share price, are, however, not what they need. They need economic returns twenty or thirty years hence. But at the same time, as Chapter 5 on the productivity of the knowledge worker explains, businesses will increasingly have to satisfy the interests of their knowledge work employees——or at least put these interests high enough to attract and to hold the knowledge workers they need, and to make them productive. ——《Management Challenges for the 21st Century · Chapter2》(Peter F.Drucker,1999)