The Practice of Management

Published in 1954, 'The Practice of Management' by Peter Drucker is a seminal work that remains highly relevant today.

The book defines management as a distinct responsibility and outlines its key functions, including managing business, managers, and workers.

Drucker introduces the concept of 'Management by Objectives' (MBO), emphasizing the importance of setting clear objectives and measuring performance.

He also stresses that the primary purpose of a business is to create a customer, rather than maximize profit, and highlights the roles of marketing and innovation in achieving this goal.

The book is known for its practical wisdom and scholarly insight, making it a valuable resource for both scholars and practitioners in the field of management.