Ajay Bhalla, professor of global innovation management at Cass Business School, said that at the root of Tesco's US problems was a failure to understand that the US retail landscape is different from the UK's.

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He now works with organizations in the U.S., Europe, Asia and Australia on leadership, innovation, business narrative and most recently, radical management.

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The current economic downturn, which has been exacerbated by the build-up and unraveling of complex financial instruments, has made it clear that some overly focused business leaders pursued innovation and profit at the expense of proper risk management.

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Another argument is that business processes allow greater social interaction and the management of ideas and innovation.

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He embodies invention and innovation in how he manages the business, including how he defines management itself (see Chapter 11 of Radical Management by Steve Denning).

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And it is true at the business level, where companies with greater diversity in senior management have higher returns, lower volatility, more innovation, greater customer focus, better stockholder returns and lower gender pay disparity.

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