By John Hoover, Ph.D.

(St. Martin's Press) $23.95

When a certain lady from Chicago appears on the cover of the magazine that bears her first name wearing mittens made by the Frostbite Falls Mitten Co., Sherman - the protege of the erudite beagle Mr. Peabody - calls that circumstance lucky for the company.

''Perhaps too lucky, Sherman. A stroke of luck like that might seem like a dream come true for most companies. But, in reality, it could be a waking nightmare. Fortunately, Bull- winkle is coming along nicely with his people skills, and it's just in time,'' Mr. Peabody responds.

The learned, calabash-smoking canine and his human best friend, as millions of television viewers around the world know, are members of the dramatis personae of ''The Rocky and Bullwinkle Show.''

Organizational behavior specialist John Hoover has, with permission of the survivors of the creator of Bullwinkle J. Moose, Rocket J. Squirrel, Boris Badenov, Natasha Fatale and a cast of dozens, appropriated those characters for use in his latest book of business advice, Bullwinkle on Business.

Like the TV show about the somewhat obtuse moose and his flying squirrel pal, the story line of this animated business analogy is corny, outrageously unrealistic and at times fiendishly clever. Much of the practical wisdom imbedded in it is right on target.

There are 10 episodes intended to shed light on different aspects of conducting business successfully.

This shows in an exchange between Rocky and Bullwinkle: ROCKY: ''It's more important for our team members to be motivated than to have our consultants motivated.''

BULLWINKLE: ''But my consultants are paid to tell me what I want to hear.''

Bullwinkle on Business is a good refresher course for entrepreneurs, intraprenuers and others in management and leadership positions who may have become too set in the ways of doing things.