The Death of Management: Restoring Value to the U.S. Economy

(Hardback)

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Management as we know it has been the driver of business growth in U.S. economies for a couple of centuries. Yet the practice of management is no longer focused on creating real value. Instead, it is now all about using sophisticated financial techniques-and practices like outsourcing and downsizing, among othersto improve profitability. Such addition through subtraction results in higher profits in the short term but puts the corporation and its employees at risk in the long termnot to mention the entire U.S. economy. Innovation and productivity improvement, corporate manager Jack Buffington argues, are lost arts in American business. So is getting back to basics the answer Buffington's provocative thesis: Management as we know it probably can't be repaired. It must be replaced. Asian economies, meanwhile, are growing by leaps and bounds thanks in part to short-term, ill-advised decisions made by U.S. managers. Local companies and divisions of multinational organizations in emerging countries are on track to eventually overtake those of the West, putting our job base and prosperity at peril. If we want to bring manufacturing jobs back here to the U.S., corporate managers must seek productivity and innovation improvements in U.S. operations. Jack Buffington knows all too well how quickly things can go downhill for U.S. businesses. Turned into a relentless cost-cutter by the forces of globalization and Wall Street's expectations for short-term gains, helike thousands of other U.S. executiveshas watched some of the companies he's worked for disappear for want of real value. Whereas America once prized managers who displayed skill in optimizing the interplay of capital, labor, and technology to grow a company, today's professional manager is rewarded more often for being a cost cutter than an innovator. Fortunately, this book not only outlines the problem, it outlines the solution as well by establishing a 21st-century definition of management that will succeed in today's global economy. Rather than angling to produce a penny more of earnings per share to please the financiers, corporate managers will see once again how to use their ingenuity to produce products, services, and business processes that not only provide generous profits but sustain a businessand its jobsfor years to come. By heeding Buffington's call, the U.S. can rekindle its zeal for innovation, leading to an era in which consumers, workers, investors, and managers all prosper.

Reviews

Buffington has held leadership positions in a number of large corporations (including his current job as director of operations for MillerCoors), and he criticizes the business trend of rewarding company executives for being cost-cutters rather than true innovators. Written for fellow business leaders, this book compares 'short-sighted, counterproductive objectives' such as outsourcing and downsizing with more globalized approaches that must be adopted in order to grow businesses as well as global economies. The author also analyzes the impact that both China and Alan Greenspan's policies have had upon worker-manager relationships and overall productivity in the business world. * Reference & Research Book News *
This interesting, important, thoughtful book is an excellent contribution to the management literature. . . . This clearly written book includes solutions, examples, figures, and an excellent bibliography. Summing Up: Highly recommended. Business collections at all levels. * Choice *

Author Bio

Jack Buffington is the director of operations for the MillerCoors Brewing Company. His published works include Praeger's An Easy Out: Corporate America's Addiction to Outsourcing.