and discussed: Peters and Waterman's eight excellence attributes (), Peters and Austin's 2 TOM PETERS' SEARCH FOR AN EXCELLENCE MODEL. Peters ronaldweinland.info Tom Peters and Robert H Waterman Jr - In Search Of Excellence didn't start out as a book, as Tom Peters explained when interviewed in to mark the. In Search Of Excellence, by Tom Peters and Robert Waterman,1 published in. , remains one of the biggest selling and most widely read business.
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Editorial Reviews. Review. “One of those rare books on management that are both consistently Excellence: Lessons from America's Best-Run Companies ( Collins Business Essentials) - Kindle edition by Tom Peters, Robert H. Waterman. Bob Waterman, subsequently the coauthor of In Search of Excellence, bought my act. Big time. Became an avid student. We got into it. And given a whole series. Lessons from America's Best-Run Companies. by Thomas J. Peters, Robert H. Waterman Jr. The "Greatest Business Book of All Time" (Bloomsbury UK), In Search of Excellence has long been a must-have for the boardroom, business school, and bedside table.
Walk the road with caution. And Why? This book serves as a benchmark for future investment because the results produced from this research will give you an insight into the whole operation. Tom Peters and Robert Waterman over and over again repeat that mistakes are an integral part of excellence. Sooner or later, each one of us, recalls some situations and wonder if something could have gone the other way. Waterman Thomas J. Peters is an American-born author, consultant, management expert, speaker, and professional agitator.
Waterman Thomas J. Peters is an American-born author, consultant, management expert, speaker, and professional agitator. He was born on November 7th, , in Baltimore, Maryland.
From to he was in the U. S Navy. Robert H. Waterman is a non-fiction writer born in During their college days, they realized that the American global influence was under constant pressure from the Japanese — Management. Not just them, but all of the U.
The research continued markedly since Thomas and Robert, marked the mistakes existing in the global economy and methods of doing business. The key was to understand the predominance by some and consequently to inflict balance.
A study conducted from to marked the birth of the digital era due to various reasons. The first and most important one is linked to the qualities embedded in the global brands by top-notch managers. The sample consisting of 43 companies from the six major industries examines all the aspects needed for reaching the top. Nonetheless, the process of turning theory into practice was a lot harder than they foresaw.
As the study reached a certain point, there was no turning back. The project began with seven crucial and unique variables, which turned out to be the foundation for a new model.
None of them had ever assumed that a group of students could challenge the American economy , by designing a system that allows the companies to analyze all fields using well-defined metrics. High expectations and trust, laid down the foundation for this seven-variable model.
Generally speaking, this project produced a matrix consisting of multiple principles. You probably wonder what these students strived for?
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. 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.
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 Search of Excellence Key Idea 5: The most successful companies sincerely care about their employees.
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: 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. 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.
Companies that performed less successfully shared two defining characteristics: The majority of these companies had no coherent beliefs or values. Those that did have distinct objectives focused predominantly on attributes that could be easily quantified — such as earnings per share. 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.