Economist recently published an article, Measuring Management, featuring a
study conducted by a group of economists, including Nicholas Bloom of Stanford
University and John Van Reenen of the London School of Economics, on the impact
of management on corporate performance.
The study focused
on three commonly accepted management techniques – setting targets, rewarding
performance, and measuring results – and compared the implementation of these
techniques to the performance of over 10,000 organizations in 20 countries. The results of the study show that certain
best practices in management are strongly associated with better performance.
This is why quality
management education is so important in the developing world. Knowledge and implementation of best
management practices improve performance and lead to sustainable competitive
advantage. GBSN continues to work with
our member schools and partners to strengthen management education for the
developing world precisely because of the impact that good management can have
on businesses, governments, and entire economies.
Melissa Dorow is the Communications
Intern at the Global Business School Network.