Management by Objectives, Peter Drucker



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Table of Contents

Summary1

Introduction4

Theorist's idea5

Current Perspective7

Career goals8

Conclusion9

Summary

Excellence theories by Tom Peters

One of the most widely read and biggest selling business book “In Search of Excellence”, was written by Tom Peters and Robert H. Waterman, Jr. This book presents the beautiful blend of arts and science in the realm of management. This book is used by corporation with continuing innovation and record profitability over long period of times (Waterman, Jr. and Peters. 1982).

They identified eight common themes, which according to them were responsible for corporation's success. However, this book was criticized by many. A book with a title “In Search Of Stupidity” was written by Rick Chapman as a nod to Peter's book.

Henry Mintzberg- Organization Behavior

The famous professor and famous author on management and business, Henry Mintzberg, developed one of the most prominent configurational theories of organizational behavior. In this theory he identified the seven types of organizations (Mintzberg, H. 1994).

Professional

Mechanical

Entrepreneurial

Diversified

Innovative

Political

Missionary

The way action is coordinated in the firm largely separates each type. According to Mintzberg, the corporation with any of these forms is not likely to transform into another type with incremental steps. Only revolutionary changes in a successful firm can do that, if at all Demers, 2007).

Eliyahu M. Goldratt- Theory of Constraint (TOC)

Theory of Constraint (TOC) by Eliyahu M. Goldratt, is famous for its wide spread acceptability and use in different functions of business. This theory states that, no chain is stronger than its weak links. This simply means that part or people in an organization or process can ultimately bring down the whole. Any manageable system is constrained by a very small number of constraints (Eliyahu, 1997).

The Process of Ongoing Improvement (POOGI) gives five focusing steps, which aims at working around constraints to eliminate them in order to make the firm achieve its goals. The POOGI is an ongoing process rather than one time process.

William Edwards Deming- Quality Management

William Edwards Deming, who was born in 1900, was considered a hero in Japan. However, his true worth in America was not recognized until his death. He is considered to be very famous theorists in realm of quality management. He was a statistician, lecturer, professor, and consultant.

Deming taught that, organizations can increase quality simultaneously with reduction in cost. The cost can be reduced by rework, staff attrition, and reducing waste (Walton, 1986). This all depends on adopting appropriate management practices. However, the cost reduction goal should never be compromised by quality.

Peter Drucker- Management by Objectives

Peter Ferdinand Drucker was an influential writer and management consultant who described self as social ecologist. He is known as father of modern management and also as management Guru. His thinking's and views have shaped corporate management in the 20th centuries' later half. The theory of Management by objectives was used in the book “the practice of Management” in 1954. It is a basically a process defining the objectives within an organization, in order to make the employees and their managers agree to the objectives ...