The economic crisis was not just caused by a failure of regulation or economic policy; it was a story of the failure of management in a fundamental sense a deeply flawed approach to management that encouraged bankers to pursue opportunities without regard for their long-term consequences, and to put their own interests ahead of those of their employers and their shareholders. The revised edition of this best-selling book shows convincingly that many of today s major economic problems in the west can be traced to a failure of management. In this updated edition the author draws our attention to new examples of failed management, from Rupert Murdoch s News Corp, and the disaster at BP, to the ongoing problems in financial services companies such as UBS and RBS. Throughout the book the references and statistics have been updated, to make this a current, highly relevant analysis of the problems besetting modern business and how managers need to tackle them.

The economic crisis was not just caused by a failure ofregulation or economic policy; it was a story of the failure ofmanagement in a fundamental sense--a deeply flawedapproach to management that encouraged bankers to pursueopportunities without regard for their long-term consequences, andto put their own interests ahead of those of their employers andtheir shareholders.The revised edition of this best-selling book shows convincinglythat many of today's major economic problems in the west canbe traced to a failure of management. In this updated editionthe author draws our attention to new examples of failedmanagement, from Rupert Murdoch's News Corp, and the disasterat BP, to the ongoing problems in financial services companies suchas UBS and RBS. Throughout the book the references andstatistics have been updated, to make this a current, highlyrelevant analysis of the problems besetting modern business and howmanagers need to tackle them.

Preface ixAcknowledgements xiiiAbout the Author xviiChapter 1 Why Management Failed 1Chapter 2 What's Your Management Model? 27Chapter 3 Coordinating Activities: From Bureaucracy to Emergence53Chapter 4 Making and Communicating Decisions: From Hierarchy toCollective Wisdom 85Chapter 5 Setting Objectives: From Alignment to Obliquity119Chapter 6 Motivating Employees: From Extrinsic to IntrinsicMotivation 145Chapter 7 Four Models of Management 173Chapter 8 The Change Agent's Agenda 205Chapter 9 The Leader's Agenda 225Epilogue Broadening the Debate on Reinventing Management 251Notes 263Index 283