Business philosophies and popular management theories: Difference between revisions

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Philosophy of business

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+#REDIRECT [[Philosophy of business]]
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-A '''business philosophy''' or '''popular management theory''' is any of a range of approaches to [[accounting]], [[marketing]], [[public relations]], [[Business operations|operations]], [[training]], [[organizational development|labor relations]], [[time management|executive time management]], [[investment]], and/or [[corporate governance]] claimed (by their proponents, and sometimes only by their proponents and selected clients) to improve [[business]] performance in some measurable or otherwise provable way.
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-These management theories often have their own [[vocabulary]] ([[jargon]]).  They sometimes depend on the business insights of a single [[guru]]. They rarely have the sophistication or internal consistency to qualify as a school of [[philosophy]] in the conventional sense - some (branded "biz-cults") resemble a [[cult]] [[religion]].  They tend to have in common high-cost [[management consulting|consulting]] fees to consult with the "[[business guru]]s" who have created the "philosophy".  Only rarely do such schools transmit to any trusted students the capacity to teach others - one of the key requirements of any legitimate non-[[esotericism|esoteric]] [[field of study|school of thought]] or [[academic discipline]].
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-Most of these theories tend to experience a limited period of popularity (about 5 to 10 years). Then they disappear from the popular consciousness. Occasionally one has lasting value and gets incorporated into textbooks and into academic management thought. For every theory that gets incorporated into strategic management textbooks about a hundred remain forgotten. Many theories tend either to have too narrow a focus to build a complete [[corporate strategy]] on, or appear too general and abstract for applicability to specific situations. The management-talk circuit fuels the low success rate: in that circuit hundreds of self-appointed gurus queue in turn to sell their books and to explain their "revolutionary" and "groundbreaking" theories to audiences of business [[corporate officer|executive]]s for phenomenal fees.
-Note too, however, that management theories often undergo testing in the [[real world]]. Disciples apply or attempt to apply such theories, and find them sometimes consistently applicable over time, sometimes merely an "idea ''du jour''". The relevant and valuable principles become recognized, and in this way may get incorporated into [[list of business theorists|academic management thought]].
-==See also==
-*[[Business]]
-*[[Management]]
-*[[Philosophy]]
-*[[Philosophy of business]]
-*[[Fraud]]
-*[[Management consulting]]
-*[[Strategic management]]
-*[[Management fad]]
-* [[Requisite Organization]]
-==References==
-* Albran, Kellogg ''The Profit'' : This work parodies the master-devotee relationship. Albran humorously examines  relationships with "gurus" (whether business, political or religious), tendency to take the role of followers, and our drive to find answers outside of ourselves.
-* Micklethwait, John; Wooldridge, Adrian. <cite>The Witch Doctors: Making Sense of the Management Gurus</cite>. ISBN 0-8129-2988-8
-* Wheen, Francis ''How Mumbo-Jumbo Conquered the World'' (2004) ISBN 0-00-714096-7
-[[Category:Management]]