What other points would you like to contribute to this ...?

Can't agree fully with ur conclusions. It cannot be 'self management' for both the employee and the employer. Both are interdependent; unless the employer's direction is good, the institution will not prosper. Similarly, unless the employee has trust in the employer's ability to direct, he cannot progress. Also, a strong committment and willingness to contribute to the welfare of the organisation on the part of the employee is very important. Ultimately, it boils down to mutual trust and co-operation.