Of course, managers have always had to dismiss underlings when their performance lagged or the company's profits sagged.
Of course, managers should be well rewarded – when they've turned the business around sustainably over the next five years".
He was not about to talk in those terms, of course – managers never do until survival becomes arithmetically impossible.
Of course, managers who abandon the traditional tone of detachment for a more caring demeanor should take care not to overstep the boundaries of decorum, specialists say.
But of course managers do not just need paying, they need stroking and above all they need a realm of discretionary action: targets, yes, daily supervision, no.
On one level, there is a semantic point and of course managers can display leadership features that positively accentuate their abilities and vice versa.
To flout that obligation is unethical.In addition, of course, managers ought to behave ethically as they pursue the proper business goal of maximising owner value and that puts real constraints on their actions.
Of course, managers who avoid that problem by expanding the number of stocks in their portfolios face another quandary: it is harder to analyze every stock on a "buy list" of several hundred stocks as carefully as every stock on a list of just 20.
Of course, managers could always buy back their shares given the growing discount to net asset value.
