Management by Objectives
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Peter Drucker, five basic principles of management
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Peter Drucker claimed that there are five basic principles of management: setting objectives, organizing, motivating and communicating, establishing measurements of performance and developing people. He also introduced the concept of reprivatisation. He argued that successful management depended on delegation, goal-setting and decentralization. He suggested that every three years or so a company should be put under the microscope and every product, process, technology, service or market subjected to a grueling assessment. Objectives are vital in marketing, innovation, human organization, financial resources, physical resources, productivity, social responsibility and profit attainment. A manager sets objects, organizes, motivates and communicates, measures and develops people.
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Contents of
Management by Objectives
1 Setting Objectives, Management by Objectives and Self Control
2 Peter Drucker, five basic principles of management
3 John Humble and Management by Objectives
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