Investing in Your Company’s Human Capital: Strategies to Avoid Spending Too Little—or Too Much

Foreword: The Fascination of Management

Over the past sixty-five years, since Chester Barnard wrote what many consider the first book on the role of the executive, there has developed a vast body of work on how to structure organizations and manage the people who populate them.^[1] New models hit the market every year. Some attract significant attention while others pass with little notice.

In contrast, consider the field of accounting. There is not nearly as much ink spent on the entire field of finance as there is on just one management topic—leadership. Why is there such a plethora of work on the leadership and management of people? The reason is simple. Things like accounting systems are passive. Even sophisticated financial instruments are ...