2 articles with this tag
Peter Drucker, the Father of Modern Management, believed management is a liberal art requiring psychology, science, and ethics. He coined key terms like knowledge worker and management by objectives, and taught that organizations should develop people intellectually and morally.
Management by exception means competent employees handle day-to-day work without micromanagement, while managers focus on strategic goals and step in only when operational or financial performance drifts significantly from planned outcomes. Four steps require careful setup: set realistic benchmarks from historical records, monitor performance frequently with automated systems, analyze deviations for significance, then investigate and resolve exceptions freeing management time for decision-making in problem areas.