Step 1: Differentiate the function.
The given function is
\[
f(x)=ax^3+bx^2+cx+d
\]
Differentiate with respect to \(x\):
\[
f'(x)=3ax^2+2bx+c
\]
Extreme values occur when
\[
f'(x)=0
\]
Thus,
\[
3ax^2+2bx+c=0
\]
Step 2: Condition for no extreme value.
For the cubic polynomial to have no maximum or minimum value, the quadratic equation
\[
3ax^2+2bx+c=0
\]
must have no real roots.
A quadratic equation has no real roots when its discriminant is negative.
Step 3: Find the discriminant.
The discriminant is
\[
D=(2b)^2-4(3a)(c)
\]
\[
=4b^2-12ac
\]
\[
=4(b^2-3ac)
\]
For no real roots,
\[
D\lt 0
\]
Thus,
\[
4(b^2-3ac)\lt 0
\]
\[
b^2-3ac\lt 0
\]
\[
b^2\lt 3ac
\]
Step 4: Final Answer.
Therefore, the required condition is
\[
\boxed{b^2\lt 3ac}
\]