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the Pendulum approach to management。
Your position on the grid is arrived at by answering a ba。。ery of questions
that can be obtained from Chartwell Learning and Development （
chartwell…learn。uk/teleometrics_instrument/management_leadership_
style）。 Alternatively； download a questionnaire from （leadership…andmotivation…
training/support…files/blake…mouton…questionnaire。pdf）。
Management by objectives
Peter Drucker first described this system in his book； The Practice of Management
（1954）。 Drucker’s proposition was that managers should sidestep
what he called the ‘activity trap’ where managers got involved in the minutiae
of day…to…day activities and set them SMART objectives：
。 Specific – relate to specific tasks and activities； not general statements
about improvements。
。 Measurable – it should be possible to assess whether or not they have
been achieved。
Figure 4。9 The management grid
Concern for task
Concern for people
or Pendulum
（1。9）
Country Club
（1。1）
Impoverished
（9。1）
Produce or Perish
（9。9）
Team
（5。5）
Middle…of…the…road
High
Low High
150 The Thirty…Day MBA
。 A。。ainable – it should be possible for the employee to achieve the
desired oute。
。 Realistic – within the employee’s current or planned…for capability。
。 Timed – to be achieved by a specific date。
Objectives； Drucker claimed； should cascade throughout the organization；
interlocking so that the overall business objectives would be achieved。
Value…based management
The value…based management （VBM） model is the management approach
that goes a stage beyond objectives and introduces the idea that organizations
are run consistently for long…term shareholder value。 That doesn’t mean
ignoring other stakeholder groups。 The three guiding principles of VBM
are：
。 Creating value： actively seeking ways to increase or generate maximum
long… term value。
。 Managing for value： colleagues； customers； munity and shareholders。
。 Measuring value： validating that long…term real value has been created
by using appropriate financial techniques such as discounted cash flow
（see Chapter 2； ‘Investment decisions’）。
Balanced score card
The balanced scorecard （Figure 4。10）； developed by Robert Kaplan and
David Norton and published in a Harvard Business Review article in 1992；
is a management process that sets out to align business activities to the
vision and strategy of the organization； improve internal and external
munications； and monitor organization performance against strategic
goals。 Its uniqueness was to add non…financial performance measures to
traditional financial targets to give managers and directors a more ‘balanced’
view of organizational performance。 Although Kaplan and Norton are
credited with coining the phrase； the idea of a balanced scorecard originated
with General Electric’s work on performance measurement reporting in the
1950s and the work of French process engineers （who created the Tableau de
Bord – literally； a ‘dashboard’ of performance measures） in the early part of
the 20th century。
Four perspectives are included in the management process； which in
effect extends the range of management by objectives and value…based
management into areas beyond purely financial target se。。ing。 A number
of objectives； measures； targets and initiatives can be set to achieve specific
key performance indicators （KPIs） for each perspective in terms of：
Organizational Behaviour 151
。 Financial： These include KPIs for return on investment； cash flow； profit
margins and shareholder value。
。 Customer： Here the KPIs can be for customer retention rates； satisfaction
levels； referrals and plaints。
。 Internal business processes： These can include stock turn； accident
rates； defects in production； reduction in the number of processes and
improvements in munications。
。 Learning and growth： Employee turnover； morale levels； training and
development achievements and internal promotions vs new recruits
are all KPIs to use here。
The four perspectives are linked by a double feedback loop whose purpose
is to ensure that KPIs are not in conflict with one another。 For example；
if customer satisfaction could be achieved by improving delivery times；
achieving that by； say； increasing stock levels might conflict with a financial
target of improving return on capital employed。 （See Chapter 1 for a refresher
on financial ratios。）
DELEGATION： THE ESSENTIAL
MANAGEMENT SKILL
To be effective an MBA needs to acquire for themselves and engender in
their own management team the ability to delegate； also known as the
art of ge。。ing things done your way by people who are happy to do so。
Figure 4。10 The balanced scorecard
Customers
。 Objectives
。 Measures
。 Targets
。 Initiatives Learning and
growth
。 Objectives
。 Measures
。 Targets
。 Initiatives
Financial
。 Objectives
。 Measures
。 Targets
。 Initiatives
Business
processes
。 Objectives
。 Measures
。 Targets
。 Initiatives
Vision and Strategy
152 The Thirty…Day MBA
Delegation is the tool that frees up your time for higher tasks – strategic
planning； for example。 Also； no organization can grow； and from a career
perspective no MBA can move up； until someone else is in place to fill their
role； delegation is a key tool in developing staff to be ready to take on more
responsibility。 Done effectively； delegation is also highly motivating。 Look
back to both the Hawthorne experiment and Hertzberg’s hygiene factors
described earlier in this chapter to remind yourself why。
The theoretical framework MBAs are most likely to e across that
gives guidance on delegation is that espoused by R Tannenbaum and W
H Schmidt； published in the Harvard Business Review in May/June 1973；
in an article entitled ‘How to choose a leadership pa。。ern’ （Figure 4。11）。
The thinking behind their ideas was to give managers a way to see how to
choose the most appropriate managerial style or use of authority； ranging
from boss…centred （task） to subordinate…centred （relationship） dependent on
their and their team’s capacity for delegat