Managing for Results: Economic Tasks and Risk-Taking Decisions

By Peter F. Drucker

Managing for Results: Economic Tasks and Risk-taking Decisions is a ""what to do"" book that covers the economic tasks that any business has to discharge for economic performance and economic results. The book organizes these tasks so that executives can perform them systematically, purposefully, with understanding, and with reasonable probability of accomplishment. The text also aims to develop a point of view, concepts, and approaches for finding what should be done and how to go about doing it. The book, which is divided into three parts, starts by discussing the business realities, analyzing the result areas of the entire business and relating them to resources, efforts, opportunities and expectations and cost stream and structure. The text also considers the business from the outside, its fundamental economic characteristics, performance capacity, and opportunities. Part II discusses the opportunities and needs in each of the major economic dimensions of a business. The last part presents the conversion of insights and decisions into purposeful performance. Key decisions, business strategies, and building economic performance into a business are considered in this part. The book concludes by projecting the book and its thesis on the individual executive and his commitment, and especially on the commitment of the top management. The text will be invaluable to entrepreneurs and business executives and students of business management/administration.

• Language: English
• Publisher: Elsevier Science
• Release date: May 21, 2014
• ISBN: 9781483105765

Peter F. Drucker

Peter F. Drucker is considered the most influential management thinker ever. The author of more than twenty-five books, his ideas have had an enormous impact on shaping the modern corporation. Drucker passed away in 2005.

Reviews for Managing for Results

[maowangvater · Rating: 4 out of 5 stars]

“Results are obtained by exploiting opportunities, not by solving problems.” Page 5“Resources…must be allocated to opportunities rather than problems.” Page 6“Here, first, are the marketing realities that are most likely to be encountered:1. What the people in the business think they know about the customer is more likely to be wrong than right. There is only one person who really knows: the customer. Only by asking the customer, by watching him, by trying to understand his behavior can one find out who he is, what he does, how he buys, how he uses what he buys, what he expects, what he values, and so on.2. The customer rarely buys what the business thinks it sells him. One reason for this, is, of course, that nobody pays for a ‘product.’ What is paid for is satisfactions. But nobody can make or supply satisfactions as such—at best, only the means to attaining them can be sold and delivered.”See things through the customers’ eyes. Look at what you do well and at what you do poorly to find your comparative advantage. Build on your strength. Put your first-rate resources on a few outstanding opportunities. “Work without deadlines is not work assigned, but work toyed with.” Page 94