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- Herausgeber: Business Book Summaries
- Kategorie: Lebensstil
- Sprache: Englisch
The must-read summary of John Micklethwait and Adrian Wooldridge's book: "The Witch Doctors: What the Management Gurus Are Saying, Why It Matters and How to Make Sense of It".
This complete summary of the ideas from John Micklethwait and Adrian Wooldridge's book "The Witch Doctors" shows that today, management theory is a strong growth industry. New business theories are more rapidly and enthusiastically applied than their predecessors – mainly because there is a greater acceptance and awareness of management theory. Yet, for all its success, management theory is still at an early stage of development. In their book, the authors warn readers never to take a new business management idea at face value or accept it as being infallible. This summary will teach you to instead look on management theories as suggestions that must be shaped and moulded in light of your own experience and business judgement.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your knowledge
To learn more, read "The Witch Doctors" and find out how to get the most out of new business
theories.
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Seitenzahl: 33
Veröffentlichungsjahr: 2014
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Book PresentationThe Witch Doctors by John Micklethwait & Adrian Wooldridge
Book Abstract
Important Note About This Ebook
Summary of The Witch Doctors (John Micklethwait & Adrian Wooldridge)
Part 1: The Management Theory Industry
Part 2: Great Management Theory Debates
Part 3: The Future of Management Theory
Book PresentationThe Witch Doctors by John Micklethwait & Adrian Wooldridge
Book Abstract
MAIN IDEA
Management theory has, in recent years, gone into overdrive and now is a strong growth industry. Today’s new business theories are more rapidly and enthusiastically applied than their predecessors – mainly because there is a greater acceptance and awareness of management theory.
Yet, for all its success, management theory is still at an early stage of development. It is still too personality and marketing driven. Entry into the management theory industry is still largely unrestricted – accordingly, the industry tends to attract those who have little in the way of formal qualifications but who come from strong marketing backgrounds. The management theory industry is also entirely incapable of self-criticism and rational debate. Therefore, contradictions flourish in the absence of established industry guidelines, such as those which exist in all other academic disciplines.
Therefore, never take a new business management idea at face value or accept it as being infallible. Rather, look on management theories as suggestions that must be shaped and molded in light of your now experience and business judgment. You still will make some mistakes, but at least that way you’ll be minimizing the risks and maximizing the opportunities for realizing the benefits.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of The Witch Doctors (John Micklethwait & Adrian Wooldridge)
Part 1: The Management Theory Industry
Main Idea
Despite the fact the management theory industry generates substantial (and growing) revenues, it is still an industry in its infancy at present. As such, a rational framework for analyzing and evaluating management theory rationally and consistently has not yet emerged.
Due to the industry’s formative stage of development, fringe management theories which are supported by superior marketing skills rather than by superior logic can exert undue influence on the direction the industry heads.
Fortunately, however, this will only be a transitory phase of development, and as a more robust and academically disciplined logical framework is constructed, the industry will move forward – to the benefit of everyone who wants to manage a business enterprise as efficiently as possible.
Supporting Ideas
The management theory industry is made up of:
Management consultants - $40 billion in revenues in 1996 alone, with at least six companies having revenues in excess of $1 billion each. U.S. companies spend more than $20 billion per year in consultancy fees alone. More than half of today’s leading consulting companies did not even exist five years ago.Business schools - more than 700 in the U.S. alone, with the average cost of a two-year M.B.A. degree being $100,000. Every year, more than 75,000 students are awarded M.B.A.s in America. The Harvard Business School has an annual budget of $195 million.Management gurus - who write books which, if successful, get spun off into seminars, public speaking appearances, diaries, cassettes and training camps. Business books alone generate over $750 million in annual revenues in the United States alone. The established management gurus commonly charge $60,000 per day to conduct seminars, with the most active running more than 60 seminars each year.Yet, despite its impressive financial success, management theory is considered by many not to be an academic discipline. This is based on the five perceived defects of management theory:
