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OTHER ECONOMIST BOOKS,Guide to Analysing Companies. Guide to Business Modelling,Guide to Business Planning. Guide to Economic Indicators,Guide to the European Union. Guide to Financial Markets,Guide to Financial Management. Guide to Investment Strategy,Guide to Organisation Design.
Guide to Project Management,Numbers Guide,Style Guide. Brands and Branding,Business Consulting,Business Miscellany. Business Strategy,China s Stockmarket,Dealing with Financial Risk. Emerging Markets,The Future of Technology,Headhunters and How to Use Them. Mapping the Markets,Successful Strategy Execution,Essential Director.
Essential Economics,Essential Investment,Essential Negotiation. Pocket World in Figures,Management Ideas indb ii 19 5 08 16 06 02. GUIDE TO MANAGEMENT IDEAS,Tim Hindle,Management Ideas indb iii 19 5 08 16 06 02. THE ECONOMIST IN ASSOCIATION WITH,PROFILE BOOKS LTD. Published by Profile Books Ltd,3a Exmouth House Pine Street London ec1r 0jh.
www profilebooks com,Copyright The Economist Newspaper Ltd 2008. Text copyright Tim Hindle 2008, All rights reserved Without limiting the rights under copyright reserved above no. part of this publication may be reproduced stored in or introduced into a retrieval. system or transmitted in any form or by any means electronic mechanical. photocopying recording or otherwise without the prior written permission of both. the copyright owner and the publisher of this book. The greatest care has been taken in compiling this book. However no responsibility can be accepted by the publishers or compilers. for the accuracy of the information presented, This publication contains the author s opinions and is designed to provide accurate. and authoritative information It is sold with the understanding that the author. the publisher and The Economist are not engaged in rendering legal accounting. investment planning or other professional advice The reader should seek the. services of a qualified professional for such advice the author the publisher and. The Economist cannot be held responsible for any loss incurred as a result of specific. investments or planning decisions made by the reader. Where opinion is expressed it is that of the author and does not necessarily coincide. with the editorial views of The Economist Newspaper. Typeset in EcoType by MacGuru Ltd,info macguru org uk. Printed in Great Britain by,Clays Bungay Suffolk,A CIP catalogue record for this book is available.
from the British Library,ISBN 978 1 84668 108 0, The paper this book is printed on is certified by the 1996 Forest Stewardship. Council A C FSC It is ancient forest friendly The printer holds FSC chain of custody. SGS COC 2061,SGS COC 2061,Management Ideas indb iv 19 5 08 16 06 02. Introduction 1 Diversification 65,Downsizing 67,Part 1 Management Ideas E commerce 69. Active inertia 7 Economies of scale and scope 71,Activity based costing 9 Empowerment 73. Balanced scorecard 11 Enterprise resource planning 75. Barriers to entry exit and Entrepreneurship 77,mobility 13 The experience curve 79.
Benchmarking 15 Flexibility 81,Brainstorming 17 Flexible working 83. Branding 19 Franchising 85,Business modelling 21 Game theory 87. Business planning 23 Genchi genbutsu 89, Business process re engineering 25 The glass ceiling 91. Cannibalisation 27 Globalisation 93,Champion 29 Growth share matrix 95. Change management 31 The halo effect 97,Cherry picking 33 The Hawthorne effect 99.
Clustering 35 Hierarchy of needs 101,Competitive advantage 37 Human resources. Convergence 39 transformation 103,Core competence 41 Innovation 105. Corporate governance 43 Just in time 107,Corporate social responsibility 45 Kaizen 109. Cost benefit analysis 47 Keiretsu 111,Crisis management 49 Knowledge management 113. Cross selling 51 Leadership 115,Culture 52 Lean production 117.
Customer relationship The long tail 119,management 55 Management by objectives 121. Decentralisation 57 Management by walking,Delayering 59 about 123. Differentiation 61 Mass customisation 125,Disruptive technology Mass production 127. innovation 63 Matrix management 129,Management Ideas indb v 19 5 08 16 06 02. Mentoring 131 Zero base budgeting 211,Mission statement 133.
Niche market 135 Part 2 Management Gurus,Offshoring 137 Igor Ansoff 215. Open book management 139 Warren Bennis 217,Operations research 141 Marvin Bower 219. Outsourcing 143 Warren Buffett 221,Performance related pay 145 Dale Carnegie 223. Planned obsolescence 147 Alfred Chandler 225,Portfolio working 149 Clayton Christensen 227. Jim Collins 229,Private equity 151,Stephen Covey 231.
Product life cycle 153,W Edwards Deming 233,Quality circle 155. Peter Drucker 235,Scenario planning 157,Henri Fayol 237. Scientific management 159 Pankaj Ghemawat 239,Segmentation 161 Sumantra Ghoshal 241. The Seven Ss 163 Frank and Lillian Gilbreth 243,Six Sigma 165 Gary Hamel 245. Skunkworks 167 Michael Hammer 247,Span of control 169 Charles Handy 249.
Strategic alliance 171 Geert Hofstede 251,Strategic planning 173 Elliott Jaques 253. Succession planning 175 Joseph Juran 255, Supply chain management 177 Rosabeth Moss Kanter 257. Sustainability 179 Robert Kaplan and,SWOT analysis 181 David Norton 259. Synergy 183 Philip Kotler 261,Talent 185 Theodore Levitt 263. Theories X and Y 187 James March 265,Abraham Maslow 267.
Tipping point 189,Konosuke Matsushita 269,Total quality management 191. Elton Mayo 271,Triple bottom line 193,Douglas McGregor 273. True and fair 195,Henry Mintzberg 275,Unique selling proposition 197 Akio Morita 277. Value chain 199 Ikujiro Nonaka 279,Value creation 201 Kenichi Ohmae 281. Vertical integration 203 Taiichi Ohno 283,Viral marketing 205 Robert Owen 285.
The virtual organisation 207 C Northcote Parkinson 287. Vision 209 Richard Pascale 289,Management Ideas indb vi 19 5 08 16 06 03. Laurence Peter 291 Alfred Sloan 307,Tom Peters 293 Frederick Winslow Taylor 309. Michael Porter 295 Alvin Toffler 311,C K Prahalad 297 Robert Townsend 313. Richard Rumelt 299 Dave Ulrich 315,E F Schumacher 301 Pierre Wack 317. Peter Senge 303 Max Weber 319,Herbert Simon 305 William Whyte 321.
Management Ideas indb vii 19 5 08 16 06 03,Management Ideas indb viii 19 5 08 16 06 03. Introduction, T his book provides a short introduction to the management concepts. that have most influenced companies over the past century or so and. to some of the more influential people behind them These people and. their ideas are no longer confined to the pages of learned management. journals or to the lecture halls of prestigious business schools Many are. mentioned nowadays in the pages of the everyday business press and in. general management training material Yet few of them are familiar to the. average person in an office, The popularity of these ideas changes over time They are subject to. fashion like everything else Not long ago the Japanese concept of kaizen. or slow gradual improvement was being studied intensively by managers. in the West But nowadays no one literally has time for kaizen Change it. seems is happening so rapidly that only big breakthroughs and dramatic. outcomes will do Even Toyota itself the epitome of kaizen has declared. its allegiance to kakushin the Japanese version of dramatic change. Bain Company a Boston based consulting firm provides a barometer. of that change in the shape of an annual survey of the most popular. management ideas In 1997 strategic planning mission and vision. statements and benchmarking headed its list in 2007 ten years on. strategic planning kept the top slot But reflecting today s sharper focus. on customers crm customer relationship management and customer. segmentation came second and third As ideas drop in and out of fashion. the need to update a book like this increases, The final selection of ideas and gurus included here was inevitably a. personal one There are 54 gurus in the book but there could as easily be. 154 A small band of them appears in virtually all such lists a band that. is more or less confined to what can be called the Famous Five Peter. Drucker Douglas McGregor Michael Porter Alfred Sloan and Frederick. Winslow Taylor, Most of these lists are produced by business magazines and manage.
ment writers like me But one such list stands out from the rest In 2003. Harvard Business Review asked gurus themselves to name their favourite. guru and they came up with an interestingly different selection which. is not so surprising since it is not unlike asking those shortlisted for the. Turner Prize to name their favourite painter Although the gurus placed. Management Ideas indb 1 19 5 08 16 06 03,INTRODUCTION. Peter Drucker predictably at the top they put James March in second. place and Herbert Simon in third Tom Peters was nowhere to be seen. Around my famous five swirl others who have come and gone with. the years In the 1980s for example the Japanese had their moment of. glory when Kenichi Ohmae Akio Morita and Japan s adopted Americans. W Edwards Deming and Joseph Juran were treated like the Delphic oracle. itself Then there was a moment when Europeans seemed about to burst. into vogue people like Yves Doz French Geert Hofstede and Manfred. Kets de Vries Dutch and Charles Handy Irish But then they too faded. somewhat overshadowed again by Americans who have persistently. dominated the field Out of my list of 54 34 of them have American. nationality There are more Mormons on the list than there are Britons. The rising stars having their moment now are Indian albeit Indians. with one foot in the West C K Prahalad was born in Madras but did. much of his early work with Gary Hamel an American at the University. of Michigan Sumantra Ghoshal though born in Calcutta died in the UK. while working at London Business School and both Pankaj Ghemawat. at iese and Rakesh Khurana at Harvard Business School were born in. India In the next decade it may be a field that the Chinese or perhaps. even the Russians turn their minds to This opens up endless possibilities. for new entries in later editions of this book perhaps on Mahjong strategy. or on Gary Kasparov and chessmaster leadership, There is occasional overlap between gurus and ideas Just a few men. have come to be associated with a single idea people like Robert Kaplan. and the balanced scorecard for instance or Dave Ulrich and human. resources transformation Many more of them however have been. remarkably broad in their thoughts distinguished particularly for their. way of expressing them In some cases they own ideas because they. were the first to name them People like Ted Levitt Alvin Toffler William. Whyte and even Peter Drucker have shone almost as much for their illu. minating writing as for what they were writing about. For management ideas are rarely rocket science As ge s Jack Welch. An idea is not necessarily a biotech idea That s the wrong view. of what an idea is An idea is an error free billing system An. idea is taking a process that used to require six days to do and. getting it done in one day, Both the gurus and the ideas in this book can be grouped more or less. Management Ideas indb 2 19 5 08 16 06 03,INTRODUCTION. into one or other of what have been the two main streams of management. thinking at least since Noah employed carpenters near Ararat to build him. an ark the idea that management is a science represented most notably. by F W Taylor s ideas about scientific management and the idea that. management is about motivating represented most memorably perhaps. by Douglas McGregor s Theory Y This divide also accounts for the two. main disciplines that management gurus come from social science repre. sented by Elton Mayo McGregor Abraham Maslow and Elliott Jaques. and engineering represented by Taylor Michael Porter Michael Hammer. and Taiichi Ohno, This book is designed to lead the interested reader on to further learning.
through the reading lists that are attached to many of the entries My. original aim was to compile the 100 greatest management ideas and the. 100 greatest gurus of the 20th century an average of one big thought and. one big thinker per year being about as much as anyone could hope for It. might have answered the question who would have won the Oscars one. per year for best thought and one per year for best thinker throughout. the 20th century A prize which should perhaps be called a Winslow But. it was a list too long for a single tome, Lastly I would like to thank Stephen Brough at Profile Books for. believing with me that there was a market for a product like this And I. would also like to thank all the management thinkers and writers referred. to in the book Unfortunately many of them have suffered from the. volumes of mumbo jumbo that are published as management wisdom. every year and that give their genre a bad name But the fun in writing. this book came from the fact that the best of them throw extraordinary. flashes of insight on the way that most of us spend the greater part of our. waking days If the book has mirrored just a few of those flashes it will. have achieved its aim,Tim Hindle,Management Ideas indb 3 19 5 08 16 06 03. GUIDE TO MANAGEMENT IDEAS AND GURUS MManagement Ideas indb ianagement Ideas indb i 119 5 08 16 06 029 5 08 16 06 02 OTHER ECONOMIST BOOKS Guide to Analysing Companies Guide to Business Modelling Guide to Business Planning Guide to Economic Indicators Guide to the European Union Guide to Financial Markets Guide to Financial Management Guide to Investment Strategy Guide to Organisation Design

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