If people are managed as things, it will show up in the bottom line. The key is to manage things, but lead people. You will then have the optimum bottom line because you unleash the energy and talent of people. Leadership and management, content and context, are both important. Management deals with things and efficiency.
Leadership deals with people and effectiveness.
This suggests that the greatest resource we have is vastly underutilized. Yes, because the top line visionary and value-based leadership drives the bottom line. Once I worked with the executive team of a large manufacturing organization where people were fed up with bureaucracy and external control and were anxious to break out of the straightjacket. But the executive team went too far and created an organization that was, in essence, a social experiment with no bottom-line accountability. If capital does not have its wage, it will go elsewhere, just as people do.