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Behavioral Economics - Management
Dr. Kyle Huff explains what is Behavioral Economics
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Level of Certainty in Management Decision Making
What is the Level of Certainty in Management Decision Making? Decisions are made under the condition of certainty when the manager has perfect knowledge of all the information needed to make a decision. This condition is ideal for...
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Leadership as a Continuum Model
Leadership as a Continuum Model. he leadership continuum theory places all leadership styles along a continuum based on the balance of authority and freedom that exists between the leader and subordinates.
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Kepner Tragoe Matrix
What is the Kepner Tragoe Matrix? KM models are frameworks that help organizations effectively manage and utilize their collective knowledge and expertise.
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Likert's 4 Systems of Management
Likert's 4 Systems of Management. The Likert's Management system consisted of four styles and they are Exploitative Authoritative, Benevolent Authoritative, Consultative and Participative.
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Management Decision Making
What is Management Decision making? In psychology, decision-making is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options. It could be either rational...
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Management Decision Making Models
What are common Management Decision Making Models? The Rational Model, The Intuitive Model,The Recognition Primed Model, Vroom-Yetton Decision-Making Model, and. Bounded rationality model.
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Relevant Information (Decisions) - Managerial Accounting
Decision-making is perhaps the most difficult element of a manager's job. The decision process is best informed by relevant information afforded by the accounting process. This video explains what is relevant information when...
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Programmed and Unprogrammed Decisions
What is a Programmed Decision? What is an Unprogrammed Decision? Because managers have limited time and must use that time wisely to be effective, it is important for them to distinguish between decisions that can have structure and...
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Power Struggles and Corporate Governance Issues - Explained
Power Struggles and Corporate Governance Issues - Explained
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Stacey Matrix
What is the Stacey Matrix? It is designed to help understand the factors that contribute to complexity and choose the best management actions to address different degrees of complexity.
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Social Influences Affect Consumer Decisions
Social Influences Affect Consumer Decisions
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Short-Run Decision Making
This video provides a clear explanation of short-run decision making and emphasizes its importance in the decision making process, particularly in terms of the immediate impact and time frame involved.
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Seven Challenges of Crisis Leadership
The 7 Key Challenges of Crisis Leadership, proposed by Boin, 't Hart, and van Esch, is a framework consisting of strategic approaches to managing crisis in a firm.
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Responsibility Centers - Decentralization
Decentralization allows for managerial autonomy in decision making. Responsibility centers are autonomous within the organization. They require a decentralized approach to management accountability and performance.
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Choosing the Right Business Entity
How do you Choosie the Right Business Entity? When choosing a business entity, you should consider: (1) the degree to which your personal assets are at risk from liabilities arising from your business; (2) how to best pursue tax...
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Bottom Up and Top Down Management
What is Bottom Up Management? What is Top Down Management? The top-down approach to management is when company-wide decisions are made solely by leadership at the top, while the bottom-up approach gives all teams a voice in these types...
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Biases and Errors in Decision Making
What are some common biases and errors in Deicsion Making? here are a plethora of cognitive biases, also known as subconscious errors, that have been studied by psychologists, and it is important to understand that each individual will...
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Decision-Making Model in Managerial Accounting
Managers routinely rely upon decision-making models. This video explains the decision-making model in managerial accounting.
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Decision-Making and Relevant Costing
Relevant costs or relevant costing is closely related to decision making. A relevant cost is a cost that will directly change based upon a singular decision.
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Cynefin Framework
What is the Cynefin Framework? The Cynefin framework (Figure 1 below) is a problem-solving tool that helps you put situations into five "domains" defined by cause-and-effect relationships.
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Costs in Decision Making - Accounting
This video explains the importance of identifying, categorizing, and recording costs in managerial accounting. The determination of costs is a major factor in management decision making.
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Understanding Cost Behavior and its Impact on Managerial Judgment
This video explores the concept of cost behavior and its relevance to managerial judgment. The video introduces two common methods for assessing cost changes: the high-low method and regression analysis. The video emphasizes that...