Book Review: The Practice of Management by Peter F. Drucker

The Practice of prudence by Peter F. Drucker. Harper & deoxyadenosine monophosphate; Row, 1954 This take up is divided into 6 main(prenominal) parts: Managing A business concern; Managing Managers; The Structure Of Management; Management Of Workers And The Worker; What It instrument To Be A Manager; and a conclusion. In Managing a Business, Drucker stresses the enormousness of the guest , not economic or market forces, in delimit a subscriber line. He suggests that it is the customer, not forces, that converts economic resources into wealth, and things into goods. He states that thither is only unrivaled valid definition of rail line line purpose: to progress to a customer. (p.37) Drucker goes on to presuppose that all business endeavour has two basic functions - market and innovation. I would argue that there should be other functions to land to this - what rough technology or human resources? Drucker also discusses how a business should be managed - by objectives. Objectives should be set in 8 beas - market stand; innovation; productivity; somatogenic and pecuniary resources; profitability; solicitude death penalty and using; worker performance and attitudes; and prevalent responsibility. These eight areas would appear to be all encompass however the last three areas are somewhat intangible addition and therefore would be nasty to measure performance by. In Managing Managers, Drucker gives the lesson of hydrogen crosswalk as a way of not managing an enterprise. Ford act to run his comp severally without the aid of managers and quashed any attempts by his subordinates to presuppose freely and have got business decisions. Supervisors were demoted if they tried to organise decisions and a culture of mistrust and misrule was embraced.

The root of this was that when he died, the company had no managers who could brand name decisions and plan for the companys future. positivity was non-existent. Fords substitute brought in anxiety from competitors... For any Peter Drucker fans or students whom requisite to learn more most Drucker, this is an excellent book review. Drucker is an place on management books and I highly think management students can learn from this review. This is indite very comfortably and gives a decent overview of this book. Covers the high points without being too wordy. If you want to devil a full essay, regulate it on our website: Orderessay

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