Management by problem (MBP) is to improve management by problems and to prevent a problem into a crisis. There are three kinds of objects of study in MBP: the problems probably turning into the crisis, the problems affecting the overall function of organization or process and the problems restricting the organizational development. Three elements of MBP application are identifying problem, expressing problem and solving problem. MBP is a theory originated from practice and practice of MBP promotes the development of the theory of MBP. Application of MBP to enterprises and public sectors has driven academic research of MBP; while academic achievements promote application of MBP in practice.