Penny‐wise, pound‐foolish managers: the syndrome affecting productivity and efficiency
Human Resource Management International Digest
ISSN: 0967-0734
Article publication date: 20 January 2012
Abstract
Purpose
Outlines the importance of senior management focusing on strategic and value‐creating activities rather than on issues that could be handled by subordinate staff.
Design/methodology/approach
Draws on information gathered from the authors' industry knowledge and experience, plus the HR literature.
Findings
Argues that senior managers sometimes get side‐tracked by lack of proper teamwork and dynamics, organizational politics, ego and lack of confidence. Underlines the importance of setting clear and attainable objectives and introducing good communication systems with a supportive and professional organizational culture.
Practical implications
Draws attention to a common and concerning pattern of management in which senior managers get bogged down with minor matters instead of making significant issues a priority.
Originality/value
Deals with organizational performance in the context of penny‐wise pound‐foolish thinking.
Keywords
Citation
Khan, A. (2012), "Penny‐wise, pound‐foolish managers: the syndrome affecting productivity and efficiency", Human Resource Management International Digest, Vol. 20 No. 1, pp. 3-4. https://doi.org/10.1108/09670731211195990
Publisher
:Emerald Group Publishing Limited
Copyright © 2012, Emerald Group Publishing Limited