3 of 3 people found the following review helpful
This review is from: The Practice of Management (Classic Drucker Collection) (Paperback)
I first read this book in the mid sixties when I was studying to become an Accountant. In spite of what some previous reviewers say it is still relevent today. Drucker's anecdotes are often fasinating and show him to be a practical man rather than an academic. The mentioned story of the Wash room door simple shows that Management decisions often have the opposite result to those intended. Drucker's point that all organisations have their broken washroom doors is as clear today to any working manager as it was when the book was written in the Fifties.
Drucker's comments on the result of Management by Cost Cutting is to have Senior Executives make their own tea.
I have also always liked his proposal that the Chief Executive role is too big for one man but is in fact a Team effort. As I write in the Spring of 2009 we can all see the result of the Managing Director being a Dictator in the demise of our Banks and therefore our Econpmy.
Drucker also put forward the idea that the work force can not be managed by Fear or by Financial rewards. His formula for success was involvement in the Enterprise and greater responsibility and room for self expression. Things that seem to have been disregarded in large organisations today.
Drucker in this book was the first to use the term Management by Objectives and to put forward the idea that before a problem can be solved the problem has to be defined and understood.
Another key idea of Drucker's was that Management should if nothing else have Integrety.
And what about his purpose of a Business being to create a customer. Many organisations would do well to remember this today particularly the ones who deal in customer exploitation.
All these things are most relevent today. The more I think the more I feel that this book should be compulsive reading for todays Top Management and those aspiring to reach the top.
If you have an interest in real practical Management then please read and digest. If what you want is a magic formula for success that involves neither employees or customers then this book will probably seem dated and of little use.