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Peter Ferdinand Drucker (/ ˈdrʌkər /; German: [ˈdʀʊkɐ]; November 19, 1909 – November 11, 2005) was an Austrian American management consultant, educator, and author, whose writings contributed to the philosophical and practical foundations of modern management theory. He was also a leader in the development of management education, and ...
Management science (or managerial science) is a wide and interdisciplinary study of solving complex problems and making strategic decisions as it pertains to institutions, corporations, governments and other types of organizational entities. It is closely related to management, economics, business, engineering, management consulting, and other ...
Managerialism is the idea that professional managers should run organizations in line with organizational routines which produce controllable and measurable results. [1] [2] It applies the procedures of running a for-profit business to any organization, with an emphasis on control, [3] accountability, [4] measurement, strategic planning and the micromanagement of staff.
Strategy. Porter's generic strategies describe how a company pursues competitive advantage across its chosen market scope. There are three/four generic strategies, either lower cost, differentiated, or focus. A company chooses to pursue one of two types of competitive advantage, either via lower costs than its competition or by differentiating ...
The McKinsey 7S Framework is a management model developed by business consultants Robert H. Waterman, Jr. and Tom Peters (who also developed the MBWA-- "Management By Walking Around" motif, and authored In Search of Excellence) in the 1980s. This was a strategic vision for groups, to include businesses, business units, and teams.
Economics is the study of the production, distribution, and consumption of goods and services. Managerial economics involves the use of economic theories and principles to make decisions regarding the allocation of scarce resources. [ 2 ] It guides managers in making decisions relating to the company's customers, competitors, suppliers, and ...
Snowden, then of IBM Global Services, began work on a Cynefin model in 1999 to help manage intellectual capital within the company. [3] [b] [c] He continued developing it as European director of IBM's Institute of Knowledge Management, [14] and later as founder and director of the IBM Cynefin Centre for Organizational Complexity, established in 2002. [15]
Scientific management is a theory of management that analyzes and synthesizes workflows. Its main objective is improving economic efficiency, especially labor productivity. It was one of the earliest attempts to apply science to the engineering of processes to management. Scientific management is sometimes known as Taylorism after its pioneer ...