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Lesson #4: “Only close attention to the fine details of any operation makes the operation first class.”
Marriott was a firm believer in the principle of management by walking around. He was as hands on as he could get, inspecting everything from the number of times a hamburger was flipped, to the haircut of his waiters. Even as the company grew, Marriott maintained his belief that if he was going to run his company, he had to know about what was going on in the restaurants, in the hotels, and on the ground. Marriott knew that the financial books in his office were in fact going to tell him less about his business than the cooks and waiters in his restaurant were, or the guests in his motels.

Other principle of management Related Articles

The Power of MasterMind
The most successful business leaders in history - Carnegie, Ford and Rockefeller - have used this principle. Thomas Edison used this principle. Mahatma Gandhi used this principle. And many more. What is this principle that has contributed to history’s greatest success stories? Read this article and learn the greatest wealth-creating secret in the business world.
MasterMind Your Success
The most successful business leaders in history - Carnegie, Ford and Rockefeller - have used this principle. Thomas Edison used this principle. Mahatma Gandhi used this principle. And many more. What is this principle that has contributed to history’s greatest success stories? Read this article and learn the greatest wealth-creating secret in the business world.
Paying Attention to What We Pay attention To
"The 80/20 Principle can and should be used by every intelligent person in their daily life, by every organization, and by every social grouping and form of society. It can help individuals and groups achieve much more, with much less effort." Richard Koch in his book, The 80/20 Principle. An important key is to be aware of what we are paying attention to.

Customer Profiles for New Business
In 1906 an Italian Economist called Vilfredo Pareto created a mathematical formula based on observing that 80% of the land was owned by 20% of the population. Dr Joseph Juran, a Quality Management pioneer also recognised this universal principle that later became know as Pareto’s Principle or The 80-20 Rule.
2009: Make It A Great Year
This is a process we do with our clients, at the beginning of every new year, to support them in having the year be more productive, more successful and more satisfying than it otherwise would be. The process is based on two fundamental principles which determine the success of an organization. The first principle is that nature abhors a vacuum and, by creating a vacuum in your company or firm, you create a space for the things you want to come into your experience. The second principle is the principle of alignment discussed in detail in the article entitled The X Factor: Alignment.

Solving the Peter Principle? One Word: "Darts"
There is a fun new working paper out from some Italian scientists that models the Peter Principle. The principle says, of course, that people climb in an organization until they reach their level of maximum incompetence.
Honesty is Still the Best Policy
Warren Buffet Business Principle # 12 deals with candor in reporting about the important things in appraising business value. Read the actual Principle in the Berkshire Hathaway Annual Report. Below is a discussion of the ideas inherent in the principle of being forthright and candid about giving facts about how your business is doing. Every business can apply this principle in reporting to shareholders. Candor is not always easy but it wins out in the end.

10 Vital Lessons from the Seed
There is so much to learn from the principle of seed time and harvest. Everything in life revolves around this principle. Study it in this article and see how you can become a better person on knowing this principle.
Why ‘everybody lives by selling something’ is key to your success
‘Everybody lives by selling something’ seems to have allowed people to discuss an area that is fundamental to human relationships and communication, the principle of exchange. In our lives we are all exchanging things of value. Whether what we exchange is of value to others should be determined through effective communication, open dialogue, and trust. Taken to an organisation wide level, everybody in a company has an impact on how the business communicates with and engages in the principle of exchange with its customers, suppliers, the broader community, and each other. The legacy of silos in organisations, where departments distance themselves from each other, pitting their agenda against others to gain an upper hand, is the opposite of the principle ‘everybody lives by selling something’.

The Key to a Better Life
Time management is basically about being focused. The Pareto Principle also known as the '80:20 Rule' states that 80% of efforts that are not time managed or unfocused generates only 20% of the desired output. However, 80% of the desired output can be generated using only 20% of a well time managed effort. Although the ratio '80:20' is only arbitrary, it is used to put emphasis on how much is lost or how much can be gained with time management.

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