The New Yorker has an article regarding the failure of superstar style management systems using Enron and McKinsey as the poster children.

I think this article points out the obvious and in so doing fails to be all that convincing while still being engaging. First, to promote star talent with utter lack of appreciation to common sense capability and general ability to complete work is clearly a bad idea. Second, to manage an organization that emphasizes talent and not take responsibility for organizational structure and efficiency is just bad management. Third, the need to hire "consultants" like McKinsey without a specific project basis smacks of failure at the hiring organization and perpetuates full employment at consultants. Finally, the tying of brand name business degrees to talent is a laughable and all to common practice. Business School academia is far afield from business reality and thus the freshly minted MBA almost always has a lot to relearn.

Here is a fascinating article by the same author on the interview process.