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Goodhart's law is an adage often stated as, "When a measure becomes a target, it ceases to be a good measure". [1] It is named after British economist Charles Goodhart, who is credited with expressing the core idea of the adage in a 1975 article on monetary policy in the United Kingdom: [2]
Management by objectives (MBO), also known as management by planning (MBP), was first popularized by Peter Drucker in his 1954 book The Practice of Management. [1] Management by objectives is the process of defining specific objectives within an organization that management can convey to organization members, then deciding how to achieve each objective in sequence.
Definitions of performance measurement tend to be predicated upon an assumption about why the performance is being measured. [ 2 ] Moullin defines the term with a forward looking organisational focus—"the process of evaluating how well organisations are managed and the value they deliver for customers and other stakeholders".
Peter Ferdinand Drucker (/ ˈ d r ʌ k ər /; German:; November 19, 1909 – November 11, 2005) was an Austrian American management consultant, educator, and author, whose writings contributed to the philosophical and practical foundations of modern management theory.
"And so for us to use some of his quotes, I believe in him, what he would say — there's work to be done. The thing about him is, not only being uber-talented, but he was a killer. And the job's ...
The Knowledge of variation involves understanding that everything measured consists of both "normal" variation due to the flexibility of the system and of "special causes" that create defects. Quality involves recognizing the difference to eliminate "special causes" while controlling normal variation.
To get into the spirit of helping others, we put together a list of World Humanitarian Day quotes — all centered around community, aid, and uplifting one another.
and with what measure ye mete, it shall be measured to you again. The World English Bible translates the passage as: For with whatever judgment you judge, you will be judged; and with whatever measure you measure, it will be measured to you. The Novum Testamentum Graece text is: ἐν ᾧ γὰρ κρίματι κρίνετε κριθήσεσθε,