System Approach
A set of entities comprising a whole where each component interacts with or is related to at least one other component and they all serve a common objective
What is a system?
First used as a term by Peter Drucker in 1954
What is Management by Objectives?
The decade when many large firms turned to this managerial technique, whose objective is to direct management toward the primary goal of creating shareholder value
What happened in 1990s?
The type of system attributed to the work of Norbert Wiener (a distinguished mathematician and engineer at MIT, Massachusetts Institute of Technology, discovered this over lunch with a colleague who was a neurosurgeon in 1949)
What is a closed system?
The steps in implementing MBO
What are setting objectives, planning of action, and control and appraisal?
One goal of VBM
Is it long-term shareholder wealth maximization?
The basic components of a system
Are these input, process, output, feedback?
The management theoreticians who developed MBO as a management approach
Who are Douglas McGregor, George Odiorne, and John Humble?
The VBM planning style
What is value-based performance metrics for making better decisions?
The profession of Ludwig von Bertalannfy, proponent of open system
What is theoretical biologist?
Any potential misuse of MBO
Are these boss puts constant pressure on the subordinate, managers do not have the interpersonal skills , and MBO viewed as solution to all management problems?
The way to increase the value of language teaching
The major differences of open and closed systems
What are relations with the external environment, variables considered, form of regulation or control, and purpose of regulation?
The reason MBO is implemented in schools
Are these to increase accountability and to provide larger role in decision-making to the board members?
Your takeaway in from the report