"The Practice of Management": Timeless Views and Principles

Peter Drucker's book The Practice of Management has influenced Carol Wittmeyer's thinking about management and managing. Wittmeyer says it is as much about the fine art of senior leadership as it is about the discipline of management itself. The fact that the book was written 50 years ago is remarkable because the ideas it contains are fresh, thoughtful, and profound, according to Wittmeyer. The challenges that managers have witnessed in the structure of the global economy and the rise and fall of well-known companies only help to reinforce the importance and relevance of Drucker's views. According to Drucker, leadership gives the organization meaning, defines and nurtures its central values, creates a sense of mission, and builds the systems and processes that lead to successful performance. Consistent with Drucker's view, many family businesses and small and medium-sized enterprises have clear social goals and use their resources in ways that create value for society.