Loss of US Competitiveness is Due To Faulty Management Theory and Practice

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This classic article in the Harvard Business Review describes how US corporate managers followed a simple rule in running their businesses. The looked for ways to cut costs in order to increase profits. This was successful but for many companies they gave away the future. They lost the knowledge required for designing the next generation of products. In general, this is the problem in the US today. This article describes what can be done to restore the competitiveness of the US in high tech product development and manufacturing. Management needs to change in order for this to happen.