Wednesday, October 12, 2011

A Nobel for management?

The Economics Nobel was an addition to Nobel's list. Andrew Hill, writing in FT, asks whether the time has come for a Nobel in management. He is not very sure. Breakthrough ideas in management are rare, so it would be difficult to confer an award for theory. The award would have to go to managers. Here, we face a serious problem. Managerial performance can be judged properly only over a very period. Many of the corporate heroes of yesteryear are no longer around- Enron and Lehman Brothers, for instance. But, conferring an award on a manager after, say, 40 years may take away much of its shine.

No, an award for management doesn't make sense. Let's stick to intellectual contributions and those that are truly original. That rules out management for now.


The World as seen by an Idle Mind. said...

The last para- how well said!

Anonymous said...

Very interesting thought. Just wondering if Nobel for someone like Steve Jobs, Henry Ford, et al makes sense. It does not seem preposterous to me, and may be most people. Then why not? Their contribution is no less than scientific achievements. Definitely better than contribution by Economists.