The Significance of Management Development to our Economy

In April 1986 the BIM Journal Management Today carried an article on the top eight British companies measured in terms of average return on capital over the last ten years. According to the author, Robert Heller, most of these companies exhibited that quality of management that also generates the recruitment of high‐quality management for the future; and he observed that whereas a high level of management expertise does not ensure that strategic performance will match the operational excellence of the past “it greatly improves the odds, and that is one measure of what good management is all about”.