Smart Management : How Simple Heuristics Help Leaders Make Good Decisions in an Uncertain World.

Format:

Book

Author/Creator:

Reb, Jochen.

Contributor:

Luan, Shenghua.

Gigerenzer, Gerd.

Language:

English

Subjects (All):

Decision making.

Uncertainty.

Physical Description:

1 online resource (273 pages)

Edition:

1st ed.

Place of Publication:

Cambridge : MIT Press, 2024.

Summary:

This book explores how simple heuristics can aid leaders in making effective decisions amidst uncertainty. Authors Jochen Reb, Shenghua Luan, and Gerd Gigerenzer argue that traditional management education often overlooks practical tools that are crucial in real-world decision-making. They emphasize the importance of heuristics—mental shortcuts that simplify complex decision-making processes—in helping managers and leaders navigate volatile and ambiguous environments. By bridging the gap between academic theory and management practice, the authors aim to equip both practitioners and educators with actionable insights for improving decision-making in organizations. The book targets management professionals, educators, and anyone interested in enhancing leadership capabilities through smarter decision strategies. Generated by AI.

Contents:

Contents

Acknowledgments

Part I

1. What You (Likely) Won’t Learn in Business School

Herbert Simon and Satisficing

Harry Markowitz and the 1/N Rule

Reinhard Selten: Game Theory and Real-World Problems

Uncertainty is Not Risk

The Science and Art of Heuristic Decision Making

A Very Short Preview

Using Heuristics—and Feeling Good about Doing So

2. Why Heuristics?

Heuristics Guide Decision Making under Uncertainty

What Does VUCA Really Mean?

Uncertainty Enables Progress

Advantages of Heuristics

Common Misconceptions

3. The Adaptive Toolbox

Classes of Heuristics

Recognition-Based Heuristics

One-Reason Heuristics

Equality Heuristics

Aspiration-Based Heuristics

Social Heuristics

Ecological Rationality of Heuristics

The Bias–Variance Dilemma

Part II

4. Hiring and Firing

Elon Musk’s Hiring Heuristic

Jeff Bezos’s Fast-and-Frugal Tree for Hiring Generated by AI.

Notes:

Includes a glossary.

Includes bibliographical references (pages 231-249) and index.

Part of the metadata in this record was created by AI, based on the text of the resource.

Description based on publisher supplied metadata and other sources.

Other Format:

Print version: Reb, Jochen, 1973- Smart management

ISBN:

9780262378567

9780262378574

0262378574

0262378566

OCLC:

1399576296