Peter F. Drucker dies at 95

Peter F. Drucker, revered as the father of modern management for his numerous books and articles stressing innovation, entrepreneurship and strategies for dealing with a changing world, died Friday, a spokesman for Claremont Graduate University said.

Drucker died of natural causes at his home in Claremont, east of Los Angeles, said spokesman Bryan Schneider.

Drucker was considered a management visionary for his recognition that dedicated employees were key to the success of any corporation and marketing and innovation should come before worries about finances.

His motivational techniques have been used by executives at some of the biggest companies in corporate American, including Intel Corp. and Sears, Roebuck & Co.

Business Week magazine has hailed Drucker as "the most enduring management thinker of our time," and Forbes magazine featured him on its cover in 1997 under the headline: "Still the Youngest Mind."

He was awarded a Presidential Medal of Freedom from President George W. Bush in 2002, and called as "the world's foremost pioneer of management theory" and a champion of concepts such as privatization, management by objective and decentralization.

In the early 1940s, Drucker received an invitation from General Motors to study its inner workings. That experience led to his first management book, "Concept of the Corporation," in 1946. He went on to write more than 30 books, AP reports.

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