By the authors' reckoning, bureaucracy costs the global economy more than $9 trillion in lost economic output each year. Worse, despite all the hype around flat organisations and agile processes, bureaucracy is growing, not shrinking.

What fuels long-term business success? Not operational excellence, technology breakthroughs, or new business models, but management innovation--new ways of mobilizing talent, allocating resources, and formulating strategies. Through history, management innovation has enabled companies to cross new performance thresholds and build enduring advantages. In The Future of Management, Gary Hamel argues that organizations need management innovation now more than ever.

Why? The management paradigm of...