An article co-written by Professor John Van Reenen, Director of the Centre for Economic Performance at LSE, has been shortlisted for the Chartered Management Institute’s (CMI) Management Articles of the Year awards.
Professor Van Reenen’s article ‘Does Management Really Work? How Three Essential Practices Can Address Even the Most Complex Global Problems’, co-written with Professor Nicholas Bloom, Stanford University, and Professor Raffaella Sadun, Harvard Business School, was one of five articles shortlisted for the award.
In the article, the professors report that standards of management are actually so low in many organisations that even basic monitoring and performance management can bring about dramatic improvements, often leading to higher margins and better wages, simultaneously. Aggregated across an economy, the returns from improved management can be huge.
The CMI aims to encourage and recognised accessible academic writing and bring it to the attention of practising managers. The Articles of the Year Award challenges academics to submit research for professional managers to review. Articles are selected through a two-stage process, being, firstly, reviewed by CMI membership for their usefulness to practising manager with those that top the ratings being then scrutinised by the CMI’s Academic Advisory Council, a committee made up of leading academics from across the UK.
‘The Fatal Bias: the prevailing managerial bias towards cost efficiency is seriously harmful to corporate performance by Dr Jules Goddard, London Business School, was announced as the winner of the award this week.
‘Does Management Really Work? How Three Essential Practices Can Address Even the Most Complex Global Problems’ can be found alongside all five shortlisted articles online here.
19 February 2014