ABSTRACT
Management presided over the process of industrialization and the resulting rise in living standards as well as the frequently inequitable distribution of industry’s surpluses. In the early days of the twentieth century, management educators saw the role as of heroic importance, impacting not only the working lives of people, but the economic welfare of nations. Management had developed a new and decisive role in decision-making of unprecedented importance. Independent of both capital and labour, its impact had been revolutionary.
