Management by wishful thinking: 1. The erroneous belief that one’s wishes are in accordance with reality, as is so often the case when managing a company. 2. Fanciful view that everything will be alright, despite overwhelming evidence to the contrary; wing-and-a-prayer style; hit-and-hope approach; use of sticking plaster to make do and mend; laissez-faire attitude; board of directors demonstrating no rigour or competence at all.