Peters and waterman 1982 in search of excellence pdf

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peters and waterman 1982 in search of excellence pdf

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Waterman, Jr.

In Search of Excellence Summary and Review

Waterman Jr. Pick up the key ideas in the book with this quick summary. The path to the holy grail of business management has proved elusive.

While many loyal Lancelots and management consultants have fought the dragons guarding the secrets of management, few have survived. Well, at least until , when Tom Peters and Robert H. No, not some castle, but the people who actually ran the most successful companies in American history. In Search of Excellence is the result of their quest — an instant classic that shows how the great companies built their successes and faced their challenges.

Every business leader wants to know the best way to manage their company. But why are there so many different approaches and schools of thought?

Well, management theory has long been a topic of general concern and disagreement among academics. In the s, when the authors began their research, a key area of concern among management theorists was international competition — especially in countries like Japan, where companies were growing at a much faster rate.

This observation led to questions about whether Americans, with all their management classes, had adopted an overly theoretical approach. The authors decided to find some concrete answers amid the speculation.

So, according to these criteria, in the 15 top American companies were: Bechtel, Boeing, Caterpillar Inc. So, what do successful companies have in common? Well, the authors noticed that all the top companies they surveyed had an action bias. That is, these firms had the ability to get things done, regardless of the complexity of the task.

Although most companies want to believe they have an action bias, not many do. Instead of getting things done, most businesses get tangled up in bureaucracy. Excellent companies deal with this issue by adopting organizational fluidity. This term refers to the ability to resolve issues, especially problems that require multiple levels of bureaucratic attention. For example, top companies would have a system in place to efficiently cope with a product issue that needed input from a variety of departments — such as the product, legal and advertising teams.

These organizations create fluidity by promoting vast informal networks for communication, like open door policies. At IBM, for example, the chairman personally addressed any complaints he received from his , employees.

These informal communication processes created opportunities for companies to quickly address issues without superfluous bureaucracy.

Chunking — breaking things down — is another way companies can encourage action and optimize organizational fluidity. By creating small groups — task teams of fewer than ten people dedicated to solving specific problems — companies can nimbly deal with problems as soon as they arise.

Consider Canon, which organized a task team to develop and launch the AE-1 camera in just two and a half years. Today, the camera is widely regarded as a groundbreaking technological advancement. As Lew Young, former editor-in-chief of Businessweek , once observed, too many companies regard the customer as basically a bothersome nuisance who damages carefully laid business plans. But excellent companies take a different approach.

Meaning, the needs of the customer intrude into every facet of the business, from research to sales to accounting. However, since the brand is synonymous with service, the company has maintained its position as an industry leader. While assistants at other companies spend their days fetching coffee or pushing paper, entry level IBM staffers spend their first three years fielding customers complaints — which must always be resolved within 24 hours.

This practice yields a better understanding of what products and services the company needs to satisfy its customers. Additionally, this policy builds customer loyalty.

Since IBM is committed to quickly resolving all issues, many businesses have come to rely on the company for all their software and hardware needs. Did you know that small businesses produce times more innovation per dollar than larger firms? So what about the excellent — and huge — multinational corporations surveyed by the authors? Although these companies are big, they act small in terms of innovation. How do they do it? Well, internal competition plays a key role because it fosters a sense of autonomy and entrepreneurship — even within the large corporate structure.

And autonomy and entrepreneurship are crucial to innovation, because they give employees the opportunity to develop creative ideas that go beyond their job description.

Internal competition creates the space for this kind of creativity. It brings the competitive outside market into the company, thus promoting innovation and preventing stagnation. In , the company established a formal policy that allowed different brands in the company to actively compete.

For example, when a new ribbon material the company was developing failed, 3M tried using it as material for a brassiere. Eventually, it became the standard material in safety masks worn by government workers.

So as you can see, promoting internal competition and encouraging experimentation ensures innovation even at large companies. In other words, top companies sincerely care about their employees and create people-oriented working environments.

Management respects individual employees, invests time and money into their development and holds them to reasonable expectations. This attitude typically results in two kinds of management disasters:. Well, these top companies typically adopted people-oriented policies long before they were the norm.

For example, these firms were among the first to implement training programs. They also encouraged employees and managers to communicate on a first-name basis back when the traditional business culture was more formal. Hewlett-Packard is a fantastic example of a people-oriented company.

So, instead of firing employees during the s recession, the entire company took a ten percent pay cut. As a manager, what can you do to mimic highly successful companies? Well, you might start by establishing some company values. The results showed that nearly all of the companies surveyed had well-defined guiding values. One such value at the Dana Corporation, for example, was an inclusive management style that prioritized simplicity.

To that last point — and this may seem counterintuitive — the companies whose values were the most financially oriented and quantifiable actually fared worse than firms with broader qualitative values such as customer service, for example. And this value is characterized by the understanding that innovation is a somewhat random and unpredictable element of business. The underlying belief here is that everyone is capable of innovation, not just the research and development departments.

This is called diversification , and it can be done by creating a new products or buying a company in a different sector — with the ultimate hope of making more money.

Apple is a diversification success story. Consider the fact that it expanded its product range from computers to music players to phones. Although he did notice a mild positive correlation between the number of new products a company introduced and increases in sales, he saw absolutely no positive relationship between new product launches and actual profitability.

These companies would achieve a Success has its own challenges. And one of the drawbacks of growth is that as a company expands, it hires more people, ends up with larger departments — and finds itself with a super-complex organizational structure.

So, imagine a small company with a functional organizational structure. Employees are grouped together according to whatever function they perform, such as marketing, legal work or sales.

But as the company gets bigger, it outgrows this rigid structure. And it becomes inefficient for everyone to report up the hierarchy all the time, because it prevents individual employees from dealing with unpredictable or time-sensitive issues.

Companies try to cope with this issue by implementing a matrix organizational structure , creating discrete teams responsible for specific products and functions. But this gets complicated very quickly. Since there are many different managers running different teams, employees get confused about whom they should report to.

But excellent companies find their way around this by embracing simple form — stable, unchanging organizational structures — and lean staff. So at these companies, there will be just one manager or department head, instead of multiple people for employees to report to. The chairmen shield their divisions from unwanted bureaucratic interference. Furthermore, since each division controls its own marketing, distribution and research, it leads to better, more efficient decision-making, and ultimately requires fewer people.

People have long debated the best way to manage a company. Well, it turns out that excellent companies have a lot in common: Top businesses put a premium on customer service. They also sincerely care about their own employees and promote experimentation within the company. Suggested further reading: Good to Great by Jim Collins. Good to Great presents the findings of a five-year study by the author and his research team. The team identified public companies that had achieved enduring success after years of mediocre performance and isolated the factors which differentiated those companies from their lackluster competitors.

These factors have been distilled into key concepts regarding leadership, culture and strategic management. In Search of Excellence Key Idea 1: For decades, people have debated the best way to manage a company. Basic measures of growth and long-term wealth creation like average return on capital or average return on sales over a 20 year period. But what attributes did all of these companies share? Read on to find out.

So ultimately, excellent companies know that customers bring value beyond the final sale. In Search of Excellence Key Idea 4: Big firms can maintain their edge by promoting experimentation and internal competition.

In Search of Excellence Key Idea 5: The most successful companies sincerely care about their employees. This attitude typically results in two kinds of management disasters: The lip service disaster : Although management says they care about their employees, they do very little. For example, employees may never get proper training. These novelties typically fade away after short trial periods, but even if they persist, they still do very little to change the management—employee dynamic.

In search of excellence: lessons from america's best-run companies, harper & row, ne~ york

Waterman Jr. Pick up the key ideas in the book with this quick summary. The path to the holy grail of business management has proved elusive. While many loyal Lancelots and management consultants have fought the dragons guarding the secrets of management, few have survived. Well, at least until , when Tom Peters and Robert H. No, not some castle, but the people who actually ran the most successful companies in American history. In Search of Excellence is the result of their quest — an instant classic that shows how the great companies built their successes and faced their challenges.

Read in: 4 minutes Favorite quote from the author:. What is the holy grail of effectively managing a business? Over many years countless management Lancelots have fought the dragons protecting these secrets. Unfortunately, few have come away with good information. That was the case until when two men bravely figured out the mysteries of efficient business administration.

One such aspect was revealed by Peters & Waterman (Colville et al., ) in their book "In Search of Excellence" on the characteristics.

in search of excellence pdf

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In Search of Excellence - Past, Present and Future

Peters and Waterman found eight common themes which … in search of excellence, by Tom Peters and Robert Waterman, was first published in , and remains one of the biggest selling, business books ever. In Search of Excellence - Tom Peters. In search of excellence, by Thomas J. Peters and Robert H.

Skip to search form Skip to main content You are currently offline. Some features of the site may not work correctly. Wie kaum ein anderer hat Masing den Qualitatsbegriff gepragt und durch sein Wirken masgeblich beeinflusst.


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