In a way, there is some truth to the adage: Good management makes money and bad management loses money. It’s always applied on Wall Street where analysts usually have no idea of how to evaluate those who operate corporations being analyzed.
Nevertheless, it’s true that an executive must operate with the hand being dealt. If the business environment or the economy is poor, an excellent manager may do extremely well by just minimizing losses. But there are no real standards to go by.
Look at the techniques used and they are all the same. The same acronyms to describe managerial approaches. Those that worked in the past may not be working now. The ones that did not work in the past may be working today.
A lot of luck is involved. Also an eye on protective management. Keep away from lawsuits, especially employee harassment and EEOC suits. Stick to the employee manuals you set up. ( See the Earl J Weinreb NewsHole® comments.)
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