The reinvention of management

Purpose The author believes that business leaders and writers are increasingly exploring a fundamental rethinking of the basic tenets of management. This paper aims to address this issue. Design/methodology/approach The paper analyzes five shifts: the firm's goal (a shift from inside‐out to outside‐in); role of managers (a shift from controller to enabler); mode of coordination (from command and control to dynamic linking); values practiced (a shift from value to values); and communications (a shift from command to conversation). Findings Among the most important changes being proposed are five basic shifts in management practice. Research limitations/implications This paper offers a creative analysis of current business thinking. Practical implications The raison d'être of the firm shifts from reducing transaction costs to scalable collaboration, learning and innovation. Originality/value By adopting a people‐centered goal, a people‐centered role for managers, a people‐centered coordination mechanism, people‐centered values and people‐centered communication the leaders of a firm can focus on the people who are its customers.