I love the concept of a 360 management review.
It reminds managers that there are more people below keeping an eye on them than above.
It also empowers the manager's staff to have some say over the manager's career.
A manager who gets great results, but the direct reports disapprove of is not thought of as highly as one who gets really good results and the employees strongly approve of.
The difference between the two is time. The first manager is using short term, unscalable techniques to get the results - hence, employee discontent.
The second manager, however, is using great techniques, which will certainly scale, and gets pretty good results from his team now, and even more tomorrow. The great results are just over the horizon.
Scale is the key word.
If it don't scale, it fails. Eventually. (that time thing again...)
I think of the complexity of a CEO's job. He has a board of directors to appease, customers, shareholders and somewhere in there is also employees. And these are only the direct contact folks that he has to keep an eye on.
You'd only get to that seat if your management techniques were scalable.