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The book \'Principles and Practices of Modern Management\' inspired by the theories of Late Prof. C.K. Prahalad is designed to give a basic understanding of principles, concepts, and techniques of modern management by embracing fresh principles as a foundational part of a systematic approach to reinvent management. This book addresses the challenge of adaptability to modern business concepts and develop general framework for understanding management that applies to managers in all organizations-large or small, public or private, product-oriented or service-oriented, especially MNCs and caters specially to the management students and managers from developed and developing world.