• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Peters and Waterman - Excellence

Extracts from this document...


Peters and Waterman - Excellence Who are Peters and Waterman? Thomas J. Peters and Robert H. Waterman were two consultants, who in 1982 published a book called 'In Search Of Excellence,' advising companies to embrace what they called 'the eight attributes of excellence.' How did their research start? The authors research started in 1977 when two groups of people at McKinsey & Co. were asked to research a general concern with the problems of management effectiveness and a particular concern with the nature of the relationship between strategy, structure, and management effectiveness. One of these groups was asked to review thinking on strategy, the other was asked to review thinking on organisational effectiveness. Peters and Waterman were the leaders of the project on organisational effectiveness. They were basically told to travel around the world and speak to as many interesting business people as they could about the subject of Organisation, Structure and People. ...read more.


2. Close to the Customer: Customer satisfaction is very important throughout all the roles that the business plays. Many companies forget about their customers, whereas successful companies have an obsession with their customers. Excellent product quality and reliability will make a satisfied customer. Great service will keep the customer coming back. 3. Autonomy and Entrepreneurship: This is about encouraging risk taking and innovation. 4. Productivity Through People: This means that everyone is respectful and enthusiastic towards each other. This creates an atmosphere that enables good work. 5. Hands-on, Value-Driven: This is about company philosophy and values being discussed openly. The right values, clearly expressed, will help define an organisation. Leaders in the organisation are also positive role models. 6. Stick to the Knitting: This is about the company focusing on doing what it does best. 7. Simple Form, Lean Staff: This can be hard particularly in large organisations. ...read more.


'Another one of their conclusions was that the excellent companies had a distinctive set of philosophies about human nature and the way that people interact in organisations.' (D.Boddy, p61) Peters and Waterman saw people as 'emotional intuitive and creative social creatures who like to celebrate victories, however small, who value self-control, but who also need and want the security and meaning of achieving goals through organisations.' (D.Boddy, p61) 'In Search Of Excellence' had a huge impact on business management and practise and according to Tom Peters and Robert Waterman, if their eight basic principles are put into practise, then any business can not help but succeed. For those who do not agree with this, Peters and Waterman give several examples of small businesses that became huge businesses based on these 8 principles. These include Walmart, Hewlett-Packard and McDonald's. Although it was published in 1982, the book and 'the eight attributes of excellence' are still very relevant today. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level ICT in Business essays

  1. Effective blending of Entrepreneurship and Professionalism.

    The word entrepreneur is derived from German 'Unternehmer', which means the top man and especially the owner-manager. He alone knows what the business is all about and alone makes decisions. Everybody else is essentially a technician who carries out prescribed tasks.

  2. Business planning

    Marginal costing is a technique that uses costs to forecast profits from the production and sales levels expected in future periods. Break-even can either be calculated by formula or by graph. To calculate break-even by formula, I need to find out the level of sales needed to break even.

  1. Marketing principles

    Also for many businesses in the same market field they would look at the key aspects which would make their business as being the market leader. By that they would look at what their main rival is doing and from that will try to get a competitive advantage over their rivals.

  2. The spirit of entrepreneurship

    It is an effective education and communication tool to define and sell ideas. 2. It can help raise necessary capital for the business venture. 3. It establishes a framework for making management decisions. As Patricia Crawford-Lucas (1992) stated, "A good business plan can help make a business credible, understandable, and attractive to someone who may be unfamiliar with the business."

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work