Are popular management techniques a waste of time?

Management by objectives, zero-based budgeting, T groups, Theory Y, Theory Z, diversification, participative management, management by walking around, total quality management, teams, and empowerment. We've seen such popular approaches to management come and go with great regularity. Organizations often appear eager to embrace the newest managerial fads and just as eager to let go of those that lose popularity. Do these popular management techniques really improve an organization's performance, or are they just passing fads?