The Peter Drucker Society Europe has announced the official launch of the 2013 Drucker Challenge, noting that the competition has added an exciting new element this year: a video category.

As in previous years, the 2013 Drucker Challenge will provide an opportunity for students and younger professionals to win prizes and gain free access to the annual Global Peter Drucker Forum, set to be held on November 14 and 15 in Vienna.

While we continue with the essay contest as in past years, we are proud to introduce an additional option in 2013 as a world premiere for management competitions-the Drucker Challenge Video Contestthat includes a sophisticated voting-system” said Richard Straub, president of the Peter Drucker Society Europe.

Participants are invited to provide an essay, a video or both addressing the subject Innovation Inspiration-Lessons for Innovators From the Arts and Sciences.

The contest is open to students, managers, entrepreneurs and artists under the age of 35. The deadline for submissions is July 1. Prof. Lynda Gratton of the London Business School will chair the judging panel for the essay contest. An online public voting system will be used to determine the winners of the video contest.

Prizes will be awarded to the 40 best entries, including cash prizes of EUR 1,000 to the first-prize winners in the essay and video contests. In the event a single person wins both contests, the cash price will be EUR 4,000.

Both contests are designed to complement and enrich the interdisciplinary exchange of views and ideas at the Drucker Forum.

Peter Drucker believed that management, properly practiced, is a liberal art-and that it draws on all the humanities and social sciences: history, sociology, psychology, theology, art, literature and more,” said Rick Wartzman, the executive director of the Drucker Institute at Claremont Graduate University. “The theme of this year’s Drucker Challenge-calling on young people to find lessons from the arts and sciences that innovators can draw upon-goes right to the heart of what Drucker was talking about.