Sound management theories can form the foundation of a successful business. Leaders in any kind of organisation can learn learn from the tried and tested management concepts.

Top bosses are often eager to unleash the latest theory of management on their organisation. While they can certainly be beneficial, too often these initiatives become 'flavour of the month'.

It’s a familiar scenario where, say, the latest change management idea is adopted with a big fanfare, employees are trained accordingly, only for the benefits to be deemed negligible after a short while. And when the programme stutters to a halt the bosses turn their attention to yet another management fad.

If you are looking for ready made theories that will turn a failing business into a successful one, then you will find the answer will remain elusive and your quest will end in disappointment.

However, a flexible approach and combining old and new management theories can be far more effective than relying on one panacea.