24415 Lecture Notes - Lecture 10: Recall Bias, Sensemaking
Document Summary
David hume a wise man proportions his belief to the evidence(cid:495) * we shouldn(cid:495)t always believe our own experiences. * although not as responsible as doctors, managers are responsible for many people can ruin lives if businesses goes bankrupt. Managers are inclined to act upon others personal experiences and own so must be cautious. Management is not a formal profession (no formal training needed) Few orgs do their own management practices (changing) Need to act quick: speed more important than accuracy (publication takes yrs) We don(cid:495)t educate managers to read the research literature or to use evidence. * managers follow latest trends do that if company fails, can say they were doing what everyone else was doing. Should be more classes to gain techniques (similar to learning new language) Obsolete knowledge from their past experiences (bad way of thinking) Should analyse the situation at hand instead. Specialist skills capitalizing strengths (same tools cant be used in all industries)
