8 Profound Lessons From "In Search Of Excellence"

8
In Search Of
EXCELLENCE
Lessons
By Thomas J Peters and Robert N. Waterman Jr.

In Search of Excellence is an international bestselling book written by Tom Peters
and Robert H. Waterman, Jr. First published in 1982 it is one of the biggest selling and most widely read business books ever, selling 3 million copies in its first four years, and being the most widely held library book in the United States from 1989 to 2006. The book explores the art and science of management used by leading 1980s companies with records of long-term profitability and continuing innovation.

Lesson One : A Bias for Action :
This is about getting things done. There must be a free flow of information and open communication. The open and informal organization is more flexible and is able to take quicker action to institute changes needed to keep up in today's business world.

Management needs to get out of the office and out and about to communicate with the people of the organization. Small groups, or action oriented task forces can tackle projects or problems quickly and not get bogged down in bureaucracy.

Don't be afraid to experiment. Successful companies who want to get things done are not afraid to try things, to experiment. Again, the flexible and informal organization is the context in which "trying something new" will work.

Lesson Two : Close to the Customer
It's obvious that businesses need customers, but many forget about their customers. Successful companies have an obsession about the customer, usually pertaining to quality, reliability, or service. Excellent product quality and reliability will make a satisfied customer. Great service will keep the customer coming back.

Lesson Three : Autonomy and Entrepreneurship
Sometimes it takes a Champion to take an idea or process and keep at it through numerous failures until success is reached. The organization that is flexible and supportive of the creative process will be successful in the long run. The excellent company must foster in-house competition, with intense communication and be able to tolerate failure.

Lesson Four : Productivity through People
People need to be treated as adults. If workers are treated as partners, with dignity and respect this will create the primary source of productivity gains.

Companies that develop a philosophy and live the philosophy that involves everyone within the organization with the overall success of the company will become better for it.

Management by wandering around and an apparent lack of rigid command chains will foster better communication and exchange of ideas. This will eventually increase productivity.

Lesson Five : Hands On, Value Driven
Excellent companies make a serious effort to shape values. The right values, clearly expressed, will help define the organization. It is difficult to teach values through written policy statements. Stories, myths, and legends will go a long way to transmit the organizations value system. The values of an organization compare to the vision of today's modern companies.

Lesson Six : Stick to the Knitting
Do not champion mindlessly holding on to yesterday, diversification is a good thing. But organizations that branch out remaining somewhat close to their primary skill will be more successful.

Many acquisitions take up important time of top executives as they try to learn and control the new company and the synergy that was thought to exist does not pan out. Excellent companies acquire in an experimental way, buying small or starting new, willing to get out if it fails.

Lesson Seven : Simple Form, Lean Staff
The size of a company can make it complex, but you need to work at making things understandable for the tens, hundreds or thousands who are the people who are making things happen, few administrative layers and few people at the upper levels.

Excellent companies are flexible when dealing with fast changing conditions. A company needs to be efficient in the basics, innovative on a regular basis and responsive to threats.

Lesson Eight : Simultaneous loose-tight properties
This is the coexistence of the firm's central direction and individual's autonomy. Companies that are loose- tight may be rigidly controlled, but they still foster entrepreneurship and innovation within the ranks. The climate will foster dedication to the core values of the company, while tolerating and empowering those same employees.

Thank You Very Much
SompongYusoontorn

8 Profound Lessons From "In Search Of Excellence"

by Sompong Yusoontorn on Jan 15, 2011

Accessibility

Categories

Tags

Upload Details

Usage Rights

Statistics

8 Profound Lessons From "In Search Of Excellence" — Presentation Transcript