imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Calendar Publish RSS
Features
latest news
best of news
syndication
commentary


KILLRADIO

VozMob

ABCF LA

A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List

LAAMN List




IMC Network:

Original Cities

www.indymedia.org africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech

Surviving Cities

www.indymedia.org africa: canada: quebec east asia: japan europe: athens barcelona belgium bristol brussels cyprus germany grenoble ireland istanbul lille linksunten nantes netherlands norway portugal united kingdom latin america: argentina cmi brasil rosario oceania: aotearoa united states: austin big muddy binghamton boston chicago columbus la michigan nyc portland rochester saint louis san diego san francisco bay area santa cruz, ca tennessee urbana-champaign worcester west asia: palestine process: fbi/legal updates process & imc docs projects: radio satellite tv
printable version - js reader version - view hidden posts - tags and related articles

The Lost Generation

by Fredmund Malik Saturday, Feb. 23, 2008 at 5:32 AM
mbatko@lycos.com

A whole manager generation will have to be retrained or change its ideas. Life is measured in money by such people becaused they learned this as the ultimate truth in their training, not because they are immoral or amoral. Countries that once amassed dollars to buy oil are now unloading dollars to diversity their holdings.

THE LOST GENERATION

They think in numbers and only believe in money. Why many managers fail today

By Fredmund Malik

[This article published in: DIE ZEIT 49, 12/1/2005 is translated from the German on the World Wide Web, http://images.zeit.de/text/2005/49/Manager-Verantwortung.. Fredmund Malik, an Austrian economist, is author of ]




Disregarding exceptions, managers are lacking in correct education, not in morality. Whoever graduates with a typically American Master of Business Administration (MBA), regardless of university, gains a leadership position with the worst conceivable prerequisites. Critical reflection has no place in education, theories or the didactic method, the case study. The questions what is right for businesses and managers and what is their task are not raised any more. That something was modern was enough. A whole manager-generation will have to be retrained or change its ideas.

The great false doctrines of economic history are the core of this dislocation: shareholder value and value enhancement as the highest aims and goals of a business. In a macabre global campaign of conquest, these false doctrines reached the heads of many younger leaders because they were the only management theories available in English, not because they were right.

The Anglo-Saxon doctrines of salvation were eagerly adopted in the German-speaking area which had offered something better and was more highly developed in crucial aspects of business leadership – corporate governance. With few exceptions, economists in the 1990s ignored the crucial discussion. Instead they spread the mistakes.

Morality is not defective. Rather the right business knowledge is lacking. This deficiency cannot be compensated by the noblest morality. Conversely correct management knowledge can make explicit morality completely dispensable because it is already part of that knowledge.

The many excellently operated businesses in Germany are the best evidence for this. These businesses were immune against the American false doctrines because they long showed they could do it better. This includes practically all firms, independent of size, branch, legal form, financing and whether they are listed on the exchange or not, e.g. firms like BMW, Porsche, a large part of the cooperative sector like savings banks and many others. Their standards are uncompromising customer orientation and competitiveness. In the media, there are hardly any reports about this business type since it isn’t fit for high circulation headlines. Through one-sided reporting, the – false – impression arises that scandal-shaken firms directed by managers without morality predominate in Germany.

I venture the thesis that no well run business operates according to the doctrine of shareholder value. Business orientation in shareholder value is the systematic way into failure. This is true worldwide, not only in Germany.

The mistaken belief in the superiority of Anglo-Saxon management has led to dislocations that are seen today as moral defects. However they are something else. This kind of business leadership has brought persons to the top of big businesses who had no chance in the past and even today are not in top positions in rightly operated businesses. The type of money-driven person whose understanding of the economy and the world is limited by monetary quantifiability and business plans is at the root of our problem. Its maxim is one cannot manage what one cannot quantify. On the other hand, management is first needed where one cannot quantify and must act.

The media phenomenon that has moved into the center and is generally widespread is materialist greed for money. These money-driven persons exist but are rare. They are held to a morality that rarely convinces them. If they are convinced, they are at the end like Hofmannsthal’s Everyman.

Being driven by money is not the same as greed for money. Being driven by money is the idea (based on the seemingly best training certified by universities) that only what can be expressed in economic figures or money counts. This conviction legitimated by MBA diplomas is that there are no other values outside of monetary values in the economy and the other areas of society on account of its towering significance, exemplariness and efficiency.

Life is measured in money by such people because they learned this as the ultimate truth in their training, not because they are immoral or amoral. They have a morality – the morality of economic reductionism that was not defended by a single genuine liberal thinker, not by Friedrich von Hayek, Ludwig von Mises or Wilhelm Ropke. The founders of genuine liberalism, the Scottish moral philosophers of the 18th century, were fervent opponents of such an economic thinking.

That the economy is endangered in its basic existence is ascribed to superficial neoliberal knowledge. Genuine liberalism does not demand that all goods be subject to the economy. Liberalism demands that everyone take responsibility for his actions. That must also be true for managers. Many positions of liberalism were reversed.

It is wrong to preach to people that the market economy is a marvelous system. The market economy is a bad system. The daily experience of most people confirms this. They experience the market as brutal, unmerciful, inhuman and unjust. Leaders should defend but not praise the market economy. They know the market economy is bad and inefficient. But they also know all other systems are much worse and more inefficient.

It is naïve to say the market will order everything. The market does not bring about any economy efficiency. It does not prevent errors but punishes them after they occur. To compensate for weaknesses of the market, we need well-educated managers. Businesses cannot be reduced to shareholder interests and maximization of profits –not for moral reasons but because effective management must follow another logic.

Report this post as:

LATEST COMMENTS ABOUT THIS ARTICLE
Listed below are the 10 latest comments of 1 posted about this article.
These comments are anonymously submitted by the website visitors.
TITLE AUTHOR DATE
coldwater and naked greed out in it Saturday, Feb. 23, 2008 at 7:59 AM

Local News

GUIDE TO REBEL CITY LOS ANGELES AVAILABLE A12 5:39PM

lausd whistle blower A10 11:58PM

Website Upgrade A10 3:02AM

Help KCET and UCLA identify 60s-70s Chicano images A04 1:02PM

UCLA Luskin: Casting Youth Justice in a Different Light A02 11:58AM

Change Links April 2018 A01 11:27AM

Nuclear Shutdown News March 2018 M31 6:57PM

Join The Protest Rally in Glendale on April 10, 2018! M29 7:00PM

Join The Protest Rally in Glendale on April 10, 2018! M29 6:38PM

Spring 2018 National Immigrant Solidarity Network News Alert! M19 2:02PM

Anti-Eviction Mapping Project Shows Shocking Eviction Trends in L.A. M16 5:40PM

Steve Mnuchin video at UCLA released M15 12:34AM

Actress and Philanthropist Tanna Frederick Hosts Project Save Our Surf Beach Clean Ups M06 12:10PM

After Being Told He's 'Full of Sh*t' at School Event, Mnuchin Demands UCLA Suppress Video M02 11:44AM

Resolution of the Rent Strike in Boyle Heights M01 6:28PM

What Big Brother Knows About You and What You Can Do About It M01 3:30PM

Step Up As LAPD Chief Charlie Beck Steps Down F14 2:44PM

Our House Grief Support Center Hosts 9th Annual Run For Hope, April 29 F13 12:51PM

Don’t let this LA County Probation Department overhaul proposal sit on the shelf F13 11:04AM

Echo Park Residents Sue LA Over Controversial Development F12 8:51AM

Former Signal Hill police officer pleads guilty in road-rage incident in Irvine F09 10:25PM

Calif. Police Accused of 'Collusion' With Neo-Nazis After Release of Court Documents F09 7:14PM

Center for the Study of Political Graphics exhibit on Police Abuse posters F07 9:50AM

City Agrees to Settle Lawsuit Claiming Pasadena Police Officer Had His Sister Falsely Arre F04 3:17PM

Professor's Study Highlights Health Risks of Urban Oil Drilling F04 12:42PM

Claims paid involving Pasadena Police Department 2014 to present F04 10:52AM

Pasadenans - get your license plate reader records from police F03 11:11PM

LA Times Homicide Report F03 1:57PM

More Local News...

Other/Breaking News

What does the Quran Say About Islamic Dress?? A21 4:15PM

Biodiversité ou la nature privatisée A20 11:22AM

The Market is a Universal Totalitarian Religion A20 7:14AM

Book Available about Hispanics and US Civil War by National Park Service A19 5:52PM

The Shortwave Report 04/20/18 Listen Globally! A19 4:01PM

The Republican 'Prolife' Party Is the Party of War, Execution, and Bear Cub Murder A19 11:48AM

Neurogenèse involutive A18 9:21AM

Paraphysique de la dictature étatique A16 10:13AM

Book Review: "The New Bonapartists" A16 3:45AM

The West Must Take the First Steps to Russia A14 12:25PM

Théorie générale de la révolution ou hommage à feu Mikhaïl Bakounine A14 3:30AM

The Shortwave Report 04/13/18 Listen Globally! A12 3:50PM

“Lost in a Dream” Singing Competition Winner to Be Chosen on April 15 for ,000 Prize! A12 3:48PM

The World Dependent on Central Banks A12 4:43AM

Ohio Governor Race: Dennis Kucinich & Richard Cordray Run Against Mike DeWine A11 9:40PM

March 2018 Honduras Coup Again Update A10 10:52PM

Apologie du zadisme insurrectionnel A10 3:33PM

ICE contract with license plate reader company A10 1:14PM

Palimpseste sisyphéen A09 11:23PM

Black Portraiture(S) IV: The Color of Silence...Cuba No...Cambridge Yes A09 5:32AM

Prohibiting Micro-Second Betting on the Exchanges A09 4:18AM

Prosecutors treat Muslims harsher than non-Muslims for the same crimes A08 10:33PM

Amy Goodman interview on cell phone safety A08 10:29PM

Mesa, Arizona police officer kills unarmed white man A08 9:50PM

Israeli leaders should be prosecuted for war crimes A08 9:48PM

Paraphysique de l'autorité A08 12:11AM

Two Podcasts on fbi corruption A06 10:13PM

Fbi assassins assault & try to kill DAVID ATKINS A06 7:29PM

More Breaking News...
© 2000-2018 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy