Peters and Waterman

Definition

Peters and Waterman refer to Thomas J. Peters and Robert H. Waterman Jr., who co-authored the influential management book 'In Search of Excellence' in 1982. This work played a significant role in shaping the understanding of effective management practices and the importance of a strong corporate culture, which are key elements in the evolution of intrapreneurship.

5 Must Know Facts For Your Next Test

1. Peters and Waterman's research identified eight characteristics of excellent companies, emphasizing the importance of a strong corporate culture and customer focus.
2. Their work highlighted the idea that successful organizations empower employees and encourage risk-taking, which are essential for fostering intrapreneurial spirit.
3. The book became a bestseller and is credited with popularizing management concepts related to corporate culture, which influenced many organizations to rethink their management strategies.
4. Peters and Waterman's emphasis on employee engagement and management's visibility paved the way for practices like Management by Walking Around (MBWA), which support intrapreneurship.
5. Their findings illustrated that companies with a strong sense of purpose and adaptability tend to perform better, which aligns closely with the goals of intrapreneurship.

Review Questions

• How did Peters and Waterman's research contribute to the understanding of effective management practices in organizations?
  • Peters and Waterman's research provided insights into what makes companies successful by identifying key characteristics of excellent organizations. They emphasized the role of a strong corporate culture, employee empowerment, and a focus on customer satisfaction. Their findings have influenced how organizations approach management practices, making them more adaptive and responsive to both employee needs and market demands.
• Discuss the impact of 'In Search of Excellence' on modern organizational culture and its connection to intrapreneurship.
  • 'In Search of Excellence' significantly impacted modern organizational culture by highlighting the importance of values such as teamwork, communication, and empowerment. These elements foster an environment where employees feel valued and are encouraged to take initiative, which is at the heart of intrapreneurship. The book inspired many companies to cultivate a culture that nurtures innovation from within, aligning employee goals with organizational objectives.
• Evaluate how Peters and Waterman's concepts could be applied to enhance intrapreneurial activities in today's organizations.
  • Peters and Waterman's concepts can enhance intrapreneurial activities by encouraging organizations to create an environment that supports creativity and risk-taking. By promoting open communication through practices like Management by Walking Around (MBWA), companies can build trust between management and employees. This leads to higher employee engagement and the freedom to innovate. Additionally, fostering a strong corporate culture helps align individual motivations with the company's vision, creating a powerful platform for intrapreneurship.

Related terms

Management by Walking Around (MBWA): A management style where leaders engage directly with employees on the shop floor, promoting open communication and fostering a strong organizational culture.

Corporate Culture:

The shared values, beliefs, and behaviors that shape how an organization operates and influences its approach to innovation and intrapreneurship.

Intrapreneurship:

The practice of fostering entrepreneurial behavior within an established organization, allowing employees to act like entrepreneurs in driving innovation and change.