Summaries Of Articles On Modern Management Styles

1208 words - 5 pages

Management Article Summaries

Management Article Summaries

Articles on Contemporary Business Management

Lindsay Adams

3/23/2010

Lindsay Adams

March 23, 2010

Management 350

The Case for Behavioral Management

By Dan Lovallo and Oliver Siboney

In the article titled "The Case for Behavioral Management", authors Dan Lovallo and Oliver Siboney make a strong case for practicing behavioral strategy. Behavioral management addresses the human dimension of work. They also discover that, if left unchecked, subconscious biases can undermine strategic decision making.

Lovallo and Oliver provide us with four steps to adopting behavioral strategy:

Decide which decisions warrant the effort.

There are two sets of special decisions that managers must pay attention to: one-of-a-kind strategic decisions and high-stakes decisions. In most companies, one-of-a-kind decisions are made by a small subgroup of the executive team. The second set, high-stakes decisions, normally have formal processes in place to make those important decisions.

Identify the biases most likely to affect critical decisions.

Open discussion of the biases that may be undermining decision making are very important. These discussions will help surface the biases to which the decision process under review Is particularly prone.

Select practices and tools to counter the most relevant biases.

Companies should select practices and tools that are appropriate to the type of decision at hand, to their culture, and to the decision-making styles of their leaders.

Embed practices in formal processes.

By embedding these practices in formal corporate operating procedures, executives can ensure that such techniques are used with some regularity and not just when the ultimate decision maker feels uncertain about which call to make.

Some of these ideas and tools have been used by individuals in business in the past. The techniques alone, however, will not improve the quality of decisions. The authors tell us that leaders who want to shape the decision-making style of their companies must commit themselves to a new path.

In my own opinion, this article copes with a relevant concern, which is the discrepancy between expected consequences of a strategic decision and its actual impact. There is a basic assumption in this article: it assumes that the cognitive process of individuals should be considered as dubious while by "embedding practices", such as "teamwork", and organized collective confrontation will guarantee a "depersonalize" way of thinking which will be more reliable. After years of research, there is now enough evidence to believe that on the contrary, collective processes deeply alter the reflexion capacity of individuals by fostering the expression of emotions.

One can conclude at the end of this article that behavioral...

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