How Behavioral Economics Influences Management Decision-Making: A New Paradigm

Anchored in empirical evidence from field and laboratory behavioral experimentation, Managerial Decision-Making with Behavioral Economics critically reexamines the management function in 21st century workplaces. Developing productive decisions with staff in the talent-driven global economy increasingly requires the development of 'intrinsic' meaning in work, a human-centered workplace culture, and human-focused working practices. Often these are in opposition to the 'command and control' approach recommended by classical management theory. Implementing a change to the latter requires new management skills, particularly as they address the motivation, coaching and development of staff. Informed by new advances in behavioral economics, this book seeks to examine and explain the real-world behaviors of employees, and re-train decision-makers in the creation and development of intellectual capital within the organization, thereby helping them develop these skills. It explores well-observed but rarely understood features of employee cognition and irrationality, recommending when heuristics and similar behavioral shortcuts are to be deployed, and when avoided. It also provides an effective framework on how to develop skills as they pertain to hiring, performance management, change management, employee engagement and goal setting. Provides a framework to apply behavioral principles simply and effectively to organizations of any sizeFocuses on agent motivations and behavior and how they directly impact talent management in the knowledge economyHighlights empirical studies detailing the impact of heuristics on hiring, performance management, change management, employee engagement and goal setting decisions INDICE: 1. The changing nature of work 2. Reexamining management assumption in a knowledge economy 3. Intellectual Capital 4. Universal employee needs linked to knowledge creation and sharing 5. Managerial Mindset shift is needed to generate intellectual capital 6. Biases get in the way

• ISBN: 978-0-12-813531-0
• Editorial: Academic Press
• Encuadernacion: Rústica
• Páginas: 300
• Fecha Publicación: 01/08/2018
• Nº Volúmenes: 1
• Idioma: Inglés