ADMINISTRATIVE PHILOSOPHY

Abstract

For International Business Machines Corp., THINK was the key word during the 1950s. The company motto appeared everywhere, bold and visible in every corner of the business. C. Northcote Parkinson and Dr. Laurence J. Peter became famous for formulating a principle or law that summarizes a fundamental postulate in business life. Parkinson's Law, "Work extends to fill the time available for its performance," was the starting point for an entire book in which the author delves into the subject. The Peter Principle, "In a company, all employees are promoted to their level of incompetence," gained popularity and became one of the axioms that govern business life.