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Management theorists have long agonised about the "principal-agent problem"—the tendency of managers to run companies to suit their own interests rather than the interests of their owners or customers.
Although many management theorists, especially academics, argue in favour of the psychological "compatibility" of senior managers when putting together a top team, directors should take this with a pinch of salt.
But fashionable management theorists didn't think it was irrational.
I'm not suggesting that management theorists and economists were personally corrupt.
Management theorists have been predicting the death of conglomerates for decades.
Management theorists love to find lessons for business in unusual places.
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PAGE A9 Management Theorist Dies Peter F. Drucker, the economist whose innovative theories on management included giving workers more control over their environment, was 95.
The most influential management theorist of the twentieth century was Peter Drucker, who, in 1950, wrote an extraordinarily prescient article for Harper's entitled "The Mirage of Pensions".
Specific nouns are of scant relevance in trying to evaluate leadership potential, which is what Cason, the widow of Elliott Jaques, the management theorist and the coiner of the phrase "mid-life crisis," has been trying to do for decades.
In 2005 Philip Tetlock, a management theorist at the University of Pennsylvania, announced the results of a 20-year study in which 284 experts professors, journalists, civil servants and so forth were invited to make more than 28,000 predictions.
Based on concepts developed by statistician and management theorist W. Edwards Deming, TQM includes techniques for achieving efficiency, solving problems, imposing standardization and statistical control, and regulating design, housekeeping, and other aspects of business or production processes.
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