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| Topic: |
Business
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| Number of pages / Number of words: |
38 / 10441 |
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An organization without clear objectives is like a ship without a rudder. As early as 1954 he was developing a theory of management based on objectives. This evolved into his theory of management by objectives (MBO). According to Drucker, the procedure of setting objectives and monitoring your progress towards them should permeate the entire organization, top to bottom...
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His other seminal contribution was in predicting the importance of what today we would call intellectual capital. Work would be carried out in teams with the person most knowledgeable in the task at hand being the temporary leader.
E. Chaffee (1985) summarized what he thought were the main elements of strategic management theory by the 1970s...
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