(faz mah oy key sis) noun: The appearance of management without any actual management taking place. For example, creating a checklist to manage the checklists that were created to manage the checklists that weren't being fully checked off. Another example would be a re-organization scheme that shuffles the same incompetent jokers from one position to another without actually addressing the fact that these people aren't fit to shovel shit from one end to the other. From greek appearance + management.
Last quarter's dismal performance should put us in for some impressive phasmaoikêsis.