This book is pitched at managers who are either new to the position or managers who feel they might have people problems they need to resolve - in other words: everybody. A lot of the philosophy is common sense to me, and I say this to emphasize that I agree with it wholeheartedly.
The core of the book revolves around closing the loop - if you'll pardon the pun - on training, monitoring and giving feedback when managing employees. The authors follow the style of management that delineates goals, performance and how the employee's performance matches the targets: activators, behaviors and consequences, that is, the ABC's of people management.
The manager should make sure he ("he" is she or he) sets appropriate goals for each employee and for each task. Goals must be concrete and observable and targets must be measurable. When giving feedback, make sure it is constructive. If the results are positive, give lots of praise. If the results aren't up to par, review the reasons with the employee, get agreement, and end the discussion on a positive note, praising the employee about one angle of the task he or she did well. The authors therefore, advocate encouraging learning by reassessing goals, and never reprimanding a learner.
Another part of the philosophy is PRICE, which stands for P-inpoint, R-ecord, I-nvolve, C-oach, E-valuate - all revolving around identification and recording of planned measurable output, help or coaching along the way and checking performance against the specific targets originally set. This identification and planning of the measurable output must be arrived at together with the employee to ensure that the employee has a sense of ownership of the targets to achieve.
Another example worth noting from this book is about the character Hank. If the manager expects his people will do nothing right, he shouldn't be surprised if they aren't motivated to do better. This is basic human psychology: expect the best, treat people in that way and that's what you will get.
Near the end of the book, one last nugget of wisdom is given. Do implement this philosophy in everything you do, and you will start to see improvements. Don't overly worry if you can't get everything right at first. Incremental improvements to this process will also bring results.
One main consequence of this people management style, is better motivated people, basically because it implies management does care not only about what employees do, and how well they do it, but also that management follows up. In the process management earns trust, and the employees will reach to achieve any goals they believe is even slightly within their grasp. In the end, contrary to the common belief that one cannot motivate others and that one can only enable people to feel motivated, I believe this management method is one way to motivate people.

The original One Minute Manager was the very first management book that I read. I am happy to read this sequel and see in detail the implementation of its principles in this short book by authors Kenneth Blanchard Ph.D. and Robert Lorber Ph. D. as they stress the importance of praising (as well as reprimanding) employees which often times gets lost in today's very busied, hurried, bottom-line scrutinizing Corporate culture. Remember to be successful managing employees we must all pay the pay the PRICE: (Pinpoint, Record, Involve, Coach and Evaluate.)

This book is definately informative. It's a good technique, and I like the story approach.