Sumantra Ghoshal

A very different management philosophy is arising and will become dominant — the purpose, process, people philosophy. We are moving beyond strategy to purpose, beyond structure to process, and beyond systems to people. This will shift the basic doctrine of shareholder capitalism, and moderate it, so that if people are adding the most value, then people will increasingly have to be seen as investors, not as employees. Shareholders invest money and expect a return on their money and expect capital growth. People will be seen in the same way. So they will invest their human capital in the company, will expect a return on it, and expect growth of that capital.

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