Managerial Decision Making (Scholarship now open)
28 May – 1 June 2012
Mt Eliza Centre for Executive Education, Victoria
The brain is a remarkable biological machine, moulded through millions of years of evolutionary pressure. More recent changes in human history have created a gap between the world for which our brains were developed, and the world in which we currently live. This mismatch creates constraints for many aspects of management and leadership. We suffer from strong biases that hinder good decision-making, we are more emotionally sensitive to threat than we need to be, and we often fail to develop realistic perceptions of others and of ourselves.
Fortunately, scientists have generated a great deal of knowledge that allows us to identify these deficiencies and to find remedies for them, and there are many applications of these findings that provide opportunities for the improvement of management.
The managerial decision making module is based on state-of-the-art neurobiological research that sheds light on the obstacles we face when making decisions and managing our emotions. By discovering the roots of many of these difficulties we can also learn solutions to the problems created by our biological history. Some of the yopics covered:
• Neurobiology and Neuroanatomy
• Emotional Self-Management
• Judgmental Biases: Framing, Priming and Anchoring
• Expectations and Stereotypes
• When is the Gut Feeling Right?
• Moral Judgment: Decisions Involving Ethics and
• Honesty
• Creativity in Decision-Making
• Cultural Differences in Judgment
• Decision-Making in Teams
• Empathy
• Resonant Leadership
Managing Human Capital
Dates and venue TBA
There is growing agreement that in a global economy, characterized by customisation, speed, and innovation, an organisations' ability to manage human capital effectively is key to developing a sustained competitive advantage. Human capital represents the knowledge, skills, and abilities necessary to implement the strategy of an organisation. However, unlike other forms of traditional capital, such as financial capital and physical capital, human capital is not owned by companies but resides within the organisation's employees.
Further, employees are likely to be, more than ever before, very diverse in their work preferences, demographically and culturally. These characteristics place new and unique demands upon managers. In particular, understanding how to attract, develop, evaluate and retain top talent has become a most important skill set for any effective manager.
This subject examines core principles related to the management of human capital. It is designed from the perspective of providing business professionals from all functional domains the skills needed to gain maximum productivity from a multicultural workforce. It focuses on basic principles for managing people effectively such as:
• Strategic management of human capital;
• Recruitment, planning, and selection strategies;
• Performance management, feedback and discipline;
• Strategies for developing human capital;
• Managing a diverse workforce; and
• Using compensation and incentives to motivate superior performance.
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