In Peru, as in most Latin American republics, managerial manpower development is gaining increased recognition as a major force in the modernization process. The explosive contemporary evolution of management education with new programs developing in every conceivable form and institution in Peru strongly evidences the North American concept of specialized higher education for administration, as well as its theory and curriculum. However, Peru's development of effective managerial resources is directly related to its unique social economic system within which they function. What may be sound and efficient management practice in the United States may be largely ineffective when taught within the widely different cultural and economic environment of Peru. In fact, the North American concept of managerial efficiency must be redefined in relation to the Peruvian value system and environmental constraints within which it must operate.