Proceedings of The 2nd International Conference on Research in Business, Management and Finance
Development of Effective Management Theories
Muhammad Asadullah and Syed Irfan Hyder
This paper examines how Ghoshal’s views (2005) of bad management theories are destroying good management practices. The authors propose a solution through which we may identify the bad management theory at an early stage. The authors posit that the theorist should have intuitive ability which is a pre-requisite to develop an effective theory. As far as intuition is concerned, we cannot test the intuitive ability of any individual, therefore a “think tank” may evaluate a management theory according to ethical and cultural perspective. If a management theory is culturally rich and ethical then it will be universally acceptable. On other hand, if management theory lacks characteristics of being culturally rich or poor ethical values then it should be modified or excluded from the literature. All ethical management theories which may not be culturally rich should be addressed with double hermeneutics according to region.
Keywords: ethics, cultural richness, intuitive mindset, management theory and moral values.