Management that is ineffective, especially when they are attempting to look like they are by doing a lot of running around and using business power words that are often used out of context. Coined due to the similarity to Jim Henson's Muppets. They move their mouths and flail around a bit, but accomplish little to nothing in the end.
Mr. Thompson: I just don't get it, Mr. Arlington really seems to be on top of things, but we still are not making any profit in his devision.
Mr Jones: *Laughs* Really? Well I have been told by some of his people that he is nothing more than Muppet Management.