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The purpose is to carry out a strategic evaluation of re‐engineering, restructuring, delayering and downsizing as an influential management paradigm. Contends that this contemporary paradigm is flawed. Defines and describes the contemporary strategic paradigm of the re‐engineering, restructuring, delayering and downsizing of companies and corporations and places this paradigm within its management context. Analyses, evaluates and restates this management paradigm, questioning its assumptions of rationality and universality. Examines organization culture as a key contingency in the application of the paradigm, and qualifies the paradigm on the basis of cross‐cultural comparison. Suggests how the paradigm is flawed, and comments on the implications of its application for long‐term corporate competitive advantage. Proposes that management should, instead, be treated as a strategic asset rather than a mere overhead cost, and suggests alternatives to the uncritical and unquestioning acceptance and implementation of the paradigm.

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