It's official: a company's economic success rests on the quality of its managers.
In this new McKinsey report, they've confirmed the link between good management and superior performance. Companies that successfully apply a critical mass of proven management techniques—setting goals, tracking performance, energizing the shop floor, and nurturing talent—perform better, on average, than competitors that use such tools sporadically.
"Our research has shown that companies with a strong foundation of management best practices are also robust financial performers. The challenge for managers is to imitate or create good practices and then apply them diligently—and with sufficient breadth—across all functions. Concretely, that means using lean techniques, setting intelligent goals and targets for employees, and developing and retaining talent."
(Who researches this obvious stuff anyway??)