Drucker's main thoughts are in the areas of management, the information-based organization, the economy, and society. Every company has its own theory of business from which it operates. The theory is based on assumptions about the environment, mission, and core competencies. The assumptions must fit one another. Management theories, assumptions, policies, and practices of the past may not apply in the future.
Specialized knowledge integrated into a task becomes productive knowledge.
This also requires decentralization so that decisions can be made quickly. To accommodate modern organizations with knowledge specialists, Drucker believes that the team concept is more appropriate than the traditional boss-subordinate relationship. In his discussion about the economy, Drucker comments on the world economy, changes in trade and investment, the relationship between the world economy and the domestic economy, and trade policy. He says that a lesson learned from the last 40 years is that there is a direct relationship between increased participation in the world economy and increased domestic economic growth. Drucker provides insight into the Pacific Rim countries and the world economy, highlighting China and Japan.