I just read this and two things stand out. First, there are some things that really never change, and as a result, Peters makes a huge impact here.
On the other hand, this was written before the net, much of the new automation inventions and much of the new technology as well. So, you just have to adjust his words to fit today's business environment.
Now, for the book. What he says is common sense to many workers and managers alike, but is looked at in horror by upper management and CEOs. So many CEOs believe that if they don't have total control over everything, then they're "out of control" and thus, running a bad organization.
NOT TRUE. As Peters indicates, if you hire competent people and give them the tools they need to do their work, you'll likely be pleasantly surprised with the quality of work that comes from them. In other words, drive down the decision making and create an autonomous environment for employees and your organizational flexibility increases, your profits will rise and with the right measures, you will succeed.
This is a kind-of-classic that all business leaders should at least have read. However, I think books such as Built To Last and First, Break All The Rules are more up to date and have since developed newer, more relevant theories that apply to all industries.