Book Review The Practice of Management by Peter F. Drucker

The Practice of Management by Peter F. Drucker. Harper Row, 1954 This book is divided into 6 main parts: Managing A Business; Managing Managers; The Structure Of Management; Management Of Workers And The Worker; What It Means To Be A Manager; and a conclusion. In Managing a Business, Drucker stresses the importance of the customer , not economic or market forces, in defining a business. He suggests that it is the customer, not forces, that converts economic resources into wealth, and things into goods. He states that there is only one valid definition of business purpose: to create a customer. (p.37) Drucker goes on to say that any business enterprise has two basic functions - marketing and innovation. I would argue that there should†¦show more content†¦In The Management of Worker and Work, Drucker tells the IBM story where during the depression , they decided to maintain employment levels and enlarged the jobs of employees. As a result output actually increased, especially because the workers had job security and thus didnt feel the need to restrict their output. In order to prevent a surplus of goods, this forced IBM to seek out new markets and new needs both domestically and globally. This made IBM a stronger company during ti mes when most firms would be weaker. Drucker also reminds us that when employing someone, the manager needs to respect that he or she is not simply employing a pair of hands, he or she is employing the whole man who is not only an employee, but a family man and a member of the community. Therefore it would be unfair to expect work to take over the whole sphere of his being, rather the manager should expect to play only a part in it for that worker to be a happier and more productive employee. In analyzing the management of workers, Drucker plays down the importance of personnel and human resources management. He argues that it is the workers manager who should take a lead in their management because the manager would have a much better idea of what their job entails. Scientific management is also not an advisableShow MoreRelatedPaper1529 Words   |  7 Pagesresource management as a career path will advance my prospects immensely. My interest in human resource management centres on the fact that it involves extensive interaction with people from all walks of life. According to George R. Terry, Management is also a human activity and hence it must have definite aims and objectives. A managerial objective is the goal which prescribes definite scope and suggests the efforts of a manager. 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In general, early management scientists t ended to believe that there was a single way to organize companies and manage employees. By the beginning of the 20th century, there were initial attempts for launching a systematic and scientific study of management; by theRead MoreEssay on The Life of Peter Ferdinand Drucker2289 Words   |  10 PagesBackground of Peter Drucker Peter Ferdinand Drucker is the real name for Peter Drucker and he was an Austrian-born American. He was known as a management consultant, educator and author that had contributed to the philosophy and practical foundations of the modern business organization. He was born on 19 November 1909 at Vienna, Austria. At that time, his mother was a medicine student while his father was a lawyer and high-civil servant. His mother is Caroline Bondi and his father is Adolf Drucker. Read MoreBusiness Economics3927 Words   |  16 Pages| Peter F. Drucker is the management scholar. He is thought to be the establishing father of current management. Peter Drucker, whose life crossed the previous century (1909 – 2005), was an exceedingly instructed native of the world: an innovative soul who composed thirty-nine books including numerous fantastic chips away at business management. He was a man of numerous parts: a sharp eyewitness, a long lasting understudy, an educator, mentor of eminent corporate pioneers, and the organizer ofRead MoreManagement by Objectives Report2213 Words   |  9 Pages(Project management: Case Studies Harold Kerzner, (2006). John Wiley and Sons) Management by objectives This technique allows all parties, the project manager, the functional manager, and the employee, to share and to participate in the appraisal. It epitomizes the systems approach since it allows for objectives modification without undue or undeserved penalty to the employee. Finally, it uses objective data and downplays subjective data. Advantages emphasis on results rather than onRead MoreThe Manager’s Bookshelf: a Mosaic of Contemporary Views3779 Words   |  16 PagesIntroduction In the text the manager’s bookshelf: A Mosaic of Contemporary views provides just what the title states, a â€Å"mosaic† of different management theories summarized from a select few best-selling management books. Before the text goes into the detail of the theories it explains how the authors determine a â€Å"best seller†. A best seller is based on â€Å"market acceptance, provocativeness, distinctiveness, representativeness and the authors reputation† (Jon L. Pierce; John W. Newstrom, 2010,p.9)