A New Approach to the Development of Senior Managers Available to Purchase

It is generally accepted that three factors in combination determine a country's potential output. Two of these are employable labour and the investment in tools and equipment which labour uses in the production process. It is, however, evident that even though two countries may have the same number of employable persons and capital stock it is quite probable that potential output will differ appreciably. This is primarily due to the fact that the characteristics of the labour and capital resources will differ, as will the way in which they are managed. Thus employee skills may on average vary from country to country as may the quality of equipment. Furthermore the systems operative in one country may in general be more efficient than those to be found in another. All these aspects, sometimes described as “the level of technology”, the third factor, are to do with the extent to which inputs are efficiently converted into outputs. Very much key to this transformation process is the quality of management itself.