Why the decline? (In Western industrial performance). The cause of the decline is that management has walked off the job of management, striving instead for dividends and good performance of the price of the company’s stock. A better way to serve stockholders would be to stay in business with constant improvement of quality of product and service, thus to decrease costs, capture markets, provide jobs and increase dividends.

Deming in the foreword to Walton M 1986 ‘The Deming Management Method’ pxi