The economic crisis was not just caused by a failure of regulation or economic policy; it was a story of the failure of management in a fundamental sense--a deeply flawed approach to management that encouraged bankers to pursue opportunities without regard for their long-term consequences, and to put their own interests ahead of those of their employers and their shareholders.

The revised edition of this best-selling book shows convincingly that many of today's major economic problems in the west can be traced to a failure of management. In this updated edition the author draws our attention to new examples of failed management, from Rupert Murdoch's News Corp, and the disaster at BP, to the ongoing problems in financial services companies such as UBS and RBS. Throughout the book the references and statistics have been updated, to make this a current, highly relevant analysis of the problems besetting modern business and how managers need to tackle them.

ABOUT THE AUTHOR

Julian Birkinshaw is Professor and Chair of Strategy and Entrepreneurship at the London Business School. He has PhD and MBA degrees in Business from the Richard Ivey School of Business, University of Western Ontario, and a BSc (Hons) from the University of Durham. He was awarded an Honorary Doctorate by the Stockholm School of Economics, 2009.

Professor Birkinshaw's main area of expertise is in the strategy and management of large multinational corporations, and on such specific issues as corporate entrepreneurship, innovation, subsidiary-headquarters relationship, knowledge management, network organizations, and global customer management. He is the author of ten other books, including Giant Steps in Management (2007), Inventuring: Why Big Companies Must Think Small (2003), Leadership the Sven-Goran Eriksson Way (2002) and Entrepreneurship in the Global Firm (2001), and over seventy articles in such journals as Harvard Business Review, Sloan Management Review, Strategy Management Journal and Academy of Management Journal. He is active as a consultant and executive educator to many large companies, including Rio Tinto, SAP, GSK, ABB, Ericsson, Kone, Petrofac, WPP, Bombardier, Sara Lee, HSBC, Akzo Nobel, Roche, Thyssen Krupp, UBS, PWC, Coloplast, BBC, Unilever and Novo Nordisk.

In 1998 the leading British Management magazine Management Today profiled Professor Birkinshaw as one of six of the "Next Generation of Management Gurus". He is regularly quoted in international media outlets, including CNN, BBC, The Economist, the Wall Street Journal, and The Times. He speaks regularly at business conferences in the UK, Europe, North America and Australia.

Professor Birkinshaw is co-founder with best-selling author Gary Hamel of the Management Innovation Lab (MLab), a unique partnership between academia and business that is seeking to accelerate the evolution of management.