I cannot agree. I think that management is finally coming into it own for the first time. We are now on the cusp of moving away from command and control. Despite what management theorists may suggest, our organisations and corporations are based on a command and control system. What we are seeing, which is why this is such an exciting and challenging time, is the emergence of management. For the first time organisations will have to find managers and management, rather than command and control, will be required.
Instead of saying "you must do this because I am in authority" leaders and managers will have to convince employees and work collaboratively with them.
The manager's new role will be to make sense of things, explain them, and organise the talents around them to achieve that end. Organisations will be flatter and smaller for that reason as they become less pyramids. Instead of making sense of what the top leadership says, the manager's role will be making sense for the talent they manage for the projects they have and thus be more coordinators than commanders. http://thoughtmanagement.wordpress.com/2011/10/23/the-future-of-the-middle-manage-sense-making-in-a-social-media-age/

A further point to consider is that Umair Haque is wrong. His question begs the issue. All organisations work, they are effective or they go out of business. What is the actual question is whether they are effective and whether they could be improved. Otherwise it is like asking for an efficient government. Governments are not designed to be efficient. They are designed to govern and efficient government is not the same as good government because government is not a business.
Finally, senior managers "create" more problems is usually a sign that their staff work supporting them, explaining the issue is weak and their culture cannot tolerate critical upwards communications. We see this so often when senior managment teams take a position contrary to what the frontline workers know to be true. The reason for this is that the senior managers are out of touch with the frontlines because the middle managers are not conveying the critical messages upwards.
What the innovations in social technology allow is for those messages to come foward and be seen without waiting for someone to interpret it or pass it upwards. A worker blogging about inefficiency on the frontlines can be seen by the senior managers rather than being diluted or distorted by middle managers unwilling, unable, or simply scared to tell them that a problem exists.
In that sense, management can now finally begin to happen beyond the small teams to whole organisations. We live in exciting times and management definitely is on the table as a main course rather than a special offer.