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By looking at the three most recent economic crises, the S&L crisis, the dot-com bubble, and the recent subprime mortgage disaster, the author explains why and how corporate managers led their organizations toward disasters in the long-run.

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Preface PART I: GENERAL OVERVIEW Introduction Nature of Management Failure PART II: ROLE OF MANAGEMENT LEADERSHIP: REALITIES AND MYTHS Realities of Leadership Contribution Leadership Myths PART III: UNDERLYING ROOT CAUSES OF MANAGEMENT FAILURE Executive Compensation - Unsound and Unjustifiable Practice Corporate Board Governance - Fiduciary Neglect Regulatory Climate - Power of Money Management Club - Collusive Team Playing PART IV: FAILURE OF STRATEGIC MANAGEMENT Absence of Strategic Thinking and Outlook Slanted Management Intelligence Acquisition Lack of Marketplace Competitive Excellence Inadequate Product and Market Innovations Unhealthy Work Environment Reckless Strategic Financial Behaviors PART V: CONCLUSION AND RECOMMENDATIONS Concluding Remarks and Recommendations APPENDIX Suggested Readings Some Organizational Profiles and Shortcomings in Product and Market Developments Bad Economic News - Some Recent Examples and Facts

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VINAY KOTHARI is Regents´ Professor Emeritus in the College of Business at Stephen F. Austin State University, USA.

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