Ending the Management Illusion: How to Drive Business Results Using the Principles of Behavioral Finance by Shefrin, Hersh;

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Product details:

Publisher McGraw Hill
Date of Publication 16 June 2008

ISBN 9780071494731
Binding Hardback
No. of pages320 pages
Size 231x157x27 mm
Weight 622 g
Language English

Short description:

[BACK COVER COPY]

Use Behavioral Finance to Dramatically Improve Your Bottom Line

In Beyond Greed and Fear, Hersh Shefrin, one of the pioneers in the field of behavioral finance, showed thousands of financial professionals how bias, perception, and other aspects of psychology affect the behavior of investors in the financial markets. Now in Ending the Management Illusion, the author has written the first book to extend the insights and principles of behavioral finance to non-financial areas of the corporation_teaching managers how to recognize and overcome psychological barriers that can lead their organizations off course.

Ending the Management Illusion explains the nature of corporate debiasing and discusses the mental traps can sabotage your business acumen and diminish organizational value. Shefrin delivers the skills and tools you need to deconstruct your organization, redefine how you think about value, and identify the decisions, strategies, and operations most closely tied to individual and organizational effectiveness.

Filled with ideas that can be put into practice starting today, Ending the Management Illusion features:

Expert guidance on applying the principles of behavioral finance to non-financial areas of a corporation
A lucid introduction to the concept of corporate debiasing and its application within the organization
Proven techniques for integrating planning, controls, incentives, and information sharing
In-depth case studies of firms such Harley-Davidson, Whole Foods, and Southwest Airlines

[FLAP COPY]

Human psychology has a broad range of strengths and weaknesses_from drive and ambition to overconfidence and loafing_which psychologically smart companies learn to manage through well-defined systems and processes. Ending the Management Illusion shows corporate managers how to recognize and address the psychological barriers that can lead organizations off course, providing the hands-on methods you need for breaking through these barriers.

Written by Hersh Shefrin, the author of the bestselling Beyond Greed and Fear and a pioneer in the field of behavioral finance, this resource explains the nature of corporate debiasing and discusses the mental traps that can sabotage your business acumen and diminish organizational value.

Using tools of Open Book Management that link value to each member of the company, Ending the Management Illusion delivers a wealth of concrete behavioral techniques for the integration of planning, controls, incentives, and information sharing_key to overcoming the main obstacles to optimizing corporate value. The first book to apply the ideas of behavioral finance to non-financial areas, Ending the Management Illusion covers:

Psychology and Success: Understanding How Behavioral Finance Can Help Business People Make Better Decisions
Behavioral Intelligence: Best Practices for Raising and Spending Money
Behavioral Corporate Finance: Dealing with Workplace Bias Gremlins Who Prey on People's Susceptibility to Psychological Bias
Accounting: Building a Financially Literate Workforce that Keeps Score
Financial Planning: Translating General Strategic Thinking into Concrete Financial Plans
Incentives: Motivating the Workforce by Choosing the Right Carrots and Sticks
Eyes on the Prize: Information Sharing Throughout the Organization
The Whole Ball of Wax: How Psychologically Smart Companies Achieve Effective Integration

This vital management tool also features the best practices of firms who have built low bias corporate cultures, presenting detailed case studies of Springfield Remanufacturing Corporation, Commercial Casework, Harley-Davidson, Whole Foods, and Southwest Airlines.

Authoritative and practical, Ending the Management Illusion now equips executives and managers everywhere with the skills required to dramatically increase business results by applying the insights and principles of behavioral finance.

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Long description:

The bestselling author of Beyond Greed and Fear puts behavioral concepts into corporate practice

Psychologically smart companies manage both the pluses and minuses of human psychology through well-structured systems and processes. In Ending the Management Illusion, behavioral finance pioneer Hersh Shefrin addresses the biases that can take you or your organization off course and shows how to run psychologically smart businesses-specifically as it affects your bottom line.

Shefrin explores the psychological barriers you experience, and delivers concrete debiasing techniques for breaking through these barriers. This allows you to integrate your processes for accounting, planning, incentives, and information sharing-the main elements for optimizing corporate value.