Introduction As Gabriel said, “There can be little doubt that the inexorably widening gulf between the standards of living of the rich nations and the abject misery of the poor nations represents … the most portentous challenge of our time”. To date several explanations have been proposed to account for the differences in rates of growth among nations, but one factor which emerges as the single most important determinant of economic growth is management. Furthermore there is a common belief among political leaders and experts that under‐development of managerial capability at all levels is a major cause of retarded economic progress in developing nations. It follows that if a country is to experience rapid economic growth, then development of managerial capabilities conducive to economic progress is inevitable. However, an increase in both the quality and the quantity of managerial capabilities above all necessitates a reconditioning of the managerial climate in a country. This is based on the premise that development of managerial capabilities is influenced by the economic, political, legal, educational, social and cultural conditions prevailing in the environment.
CitationDownload as .RIS
MCB UP Ltd
Copyright © 1985, MCB UP Limited