management principles Quotes

I have certain beliefs about how people should treat employees and how companies should be run, but I was really surprised though this process to learn that those beliefs are actually good business.

Management is, above all, a practice where art, science, and craft meet

In the end, as a manager or coach, you have to keep your heart pure and do your best as a manager or a coach.

I really do have rules for running and managing a business that have never been formalized before.

Management is a curious phenomenon. It is generously paid, enormously influential, and significantly devoid of common sense

The original and brilliant idea of an MBA was the opportunity for students to study the theory and application of business and management principles.

The one important thing you do as boss is you set the standard. The minute you go in and say 'we'll let it go this time,' you set a new standard, which is lower. So you cannot do that.

I think you can improve on that natural ability with training and exposure to great leaders of the past and to management theories.

It is Basic Management 101 that if you reward failure you are going to get more failure, and if you want success you should reward success. But if you look at the way this administration has approached national security, they have kind of got that principle backwards.

There are three things that can be organized: time, space, and work. Note that, despite what many believe, you cannot organize people - you can only organize the work that people do.

Rule books tell people what to do. Frameworks guide people how to act. Rule books insist on discipline. Frameworks allow for creativity.

Often they [writers on the study of management] have a point of view based upon intuition and experience. They then offer a cadence of two-paragraph examples carefully selected to "prove" their theory, and then they write "one size fits all" books. The message is, "If you'd do what these companies did, you'd be successful too."

Over time, it also became important for me to share my management principles with the people I worked with because we had to agree on how we should be with each other - and that way is unique. Because the logic behind being radically honest and radically transparent with each other wasn't clear, it had to be spelled out in these principles.

Year after year after year, people write books about managing innovation or about leadership, for example, without ever going through the pain of saying, "This kind of leadership will cause this result in these circumstances and a very different result in those circumstances." This is academic malpractice of the worst kind.

In the study of management, unfortunately, many writers have been so anxious to articulate a theory in the form of, "If you do this, this will result," that they never go through this careful effort.

Theory is a dirty word in some managerial quarters. That is rather curious, because all of us, managers especially, can no more get along without theories than libraries can get along without catalogs and for the same reason: theories help us make sense of incoming information.

Peter Drucker has pointed out that it is a manager's job to "do things right." It is an executive's job to make sure "the right things" get done. Even the most rigorous eco-efficient business paradigm does not challenge basic practices and methods: a shoe, building, factory, car, or shampoo can remain fundamentally ill-designed even as the materials and processes involved in its manufacture become more "efficient."

As an engineer, I understood that the natural world operated according to fixed laws. Through my studies, I came to realize that there were, likewise, laws that govern human wellbeing. It seemed to me that these laws are fundamental not only to the wellbeing of societies, but also to the miniature societies of organizations. Indeed, that is what we found when we began to apply these principles systematically at Koch Industries. Through our observation of how they could create prosperity in an organization, I began to systematize my beliefs into Market-Based Management.