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A. Waterman and Peters believed that post war business was heavily engrained in certain established methods such as systemised philosophies and practices. They believed these approaches were wrong and that people and employees were the key to business success.
B. Absolutely, I believe they were correct and their approach is still valid today. Companies that are socially responsible and help, respect, and cherish their employees and communities have better profit margins because the employees care about the company and it transfers to the customers.
C. The main theories in business at the time were all centered around the numbers, whereas Waterman and Peters took a more practical approach and made their theory centered around People, Customers, and Action. They believed even then that a socially responsible company was better positioned than one only concerned about the numbers.
D. Waterman and Peters philosophies are still valid today and they are absolutely viewed as the correct way to do business, even though we recently have had numerous episodes of corporate greed, fraud, and employee mistreatment. There will be a push to clean up Corporate America and Waterman and Peters' book will be at the forefront of that premise.
I hope this helps !