This Global Network Week Course introduces students to some important ideas that Behavioral Science has to offer for the practice of management. These ideas describe behavior (of consumers, investors, employees and others) in ways that deviate from strictly rational principles which form the foundation of economic models. The goal of this course is to change the way managers approach questions of human behavior, by going beyond asking what is the logical thing to do and asking what are the psychological realities of the situation. Using this new lens, managers can better predict and influence behavior across a wide spectrum of situations, including online and retail environments, investment situations, workplaces, and public settings. This course draws heavily on the latest work of psychologists and other social scientists whose recent discoveries have greatly enhanced our understanding and ability to predict human behavior.
There is a growing recognition that consumers, managers, employees, investors and others behave in ways that violate our assumptions about rational behavior. Effective leaders take these behavioral tendencies into account. This module will explore various types of behavioral tendencies and their consequences for management.