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How Well Do Executives Trust Their Intuition
Get PDFIn this age of Big Data and analytics, knowledge gained through experiential learning and intuition may be taking a back seat to analytics. However, the use of intuition should not be underestimated and should play an important role in the decision process.
How Well Do Executives Trust Their Intuition covers the Fulbright research study conducted by this international team of editors. The main question of their investigation is: How well do executives trust their intuition? In other words, do they typically prefer intuition over analysis and analytics. And equally importantly, what types of intuition may be most favorable looking at different variables? The research utilizes survey and biometrics approaches with C-level executives from Canada, U.S., Poland, and Italy.
In addition, the book contains chapters from leading executives in industry, academia, and government. Their insights provide examples of how their intuition enabled key decisions that they made.
This book covers such topics as: Using intuition How gender, experience, role, industry, and country affect intuition Trust and intuition in management Trusting intuition It’s a matter of heart Leadership intuition and the future of work Creating an intuitive awareness for executives Improvisation and instinct.
The book explores how executives can use intuition to guide decision making. It also explains how to trust intuition-based decisions. How Well Do Executives Trust Their Intuition is a timely and prescient reminder in this age of data-driven analytics that human insight, instinct, and intuition should also play key roles
IDENTIFICATION OF RIGHT LEADERSHIP STYLE FOR AGILE TEAMS
Get PDFThe purpose of this research is to identify trends within leadership techniques applied in agile projects that lead to project success. Certain motivation and productivity drivers need to be defined in order to understand how to evaluate key project success metrics. My research approach involved reviewing papers that studied theoretical leadership frameworks in decision-making, motivation and information sharing. The methodology applied includes creating a mock project scenario, in which two leadership styles (authoritarian vs. servant) will be tested to understand the relationship between leadership, project performance and team morale. The project will have two team leaders applying the leadership style among 4-5 members respectively. It was important to understand what were the popular notions of “effective leadership,” and how that applies to agile project settings. The results highlighted the need to be adaptive and agile leaders, by responding to different project situations, encouraging creativity and incorporating feedback from different stakeholders. Encouraging collaboration within teams through open communication channels and creating a culture of decentralization, diversity and independence is also crucial. Team and personal leadership values were shown to be inter-connected. This allowed building trust and empowering the team to create innovative solutions, and the servant model of leadership offers a good set of leadership values. As a conclusion, it is important throughout projects to align leadership goals with the project goals of scope, time and cost. Future research needs to be executed for projects across industries, especially for firms transitioning from a traditional waterfall methodology towards adopting agile/scrum processes
Trading under the influence: The effects of psychological ownership on economic decision-making
No full textThe current chapter examines the role of psychological ownership in different economic decision-making contexts. These include the allocation of personal resources, trade-offs between costs and benefits, and subjective valuations reflecting underlying preferences. Economic decision-making usually coincides with a change in legal ownership. However, feelings of ownership need not coincide with actually owning or possessing anything. We investigate the influence of psychological and legal ownership on buying and selling (as seen in the endowment effect), general bargaining behavior, and prosocial decision-making in the context of charitable giving. Different theoretical accounts for these economic behaviors are reviewed with a specific focus on the prominent role that psychological ownership can play as an underlying mechanism for each. In buying and selling situations, ownership of an object may change people\u27s self-perception by creating affective associations to the object and increasing its psychological value. Similarly, in bargaining and coordination decisions, different contextual cues (such as proximity) can suggest psychological ownership over objects and thereby influence cooperative behavior. Finally, psychological ownership can influence prosocial decision-making by increasing affective reactions, moral obligations, and perceived effectiveness. We close with a proposal for a holistic approach to understand the relationship between psychological ownership and economic decision-making
Using IOP as a mechanism for project team management
Get PDFThis project investigates the application of Industrial-Organizational Psychology (IOP) in project management. Project managers are responsible for creating effective teams and building a proper environment to communicate, collaborate, and deliver their tasks. Factors such as lack of trust, miscommunications, and personal conflicts lead to dysfunctional teams which can ultimately fail a project. Thus, understanding the behavioral characteristics of the team members and realizing the psychological principles of the interpersonal relationships in organizational settings would significantly help project managers. The purpose of this project is to find out whether project managers can exploit IOP for effective team management. By an exhaustive review of literature and focused examination of two case studies, various behaviors and personal traits have been explored and mapped to one’s functional and behavioral characteristics. Because of the nature of this project and the research instrument, i.e. case studies and literature survey, qualitative research approach was adopted; this method of research is appropriate for in-depth study of social and psychological topics.
Finally, it is concluded that not only project managers can exploit IOP for effective team management, but also they benefit from the awareness of human psychology that IOP provides. The findings of this research and the characteristic profiling presented here deliver a comprehensive understanding of interpersonal behaviors and make it possible for successful team management
Risk Management in Telemedicine Projects in Healthcare
Get PDFTelemedicine could fundamentally change health care in the United States by delivering treatments using telecommunications platform. The primary purpose of the proposed study is to identify the various risks involved in Telemedicine projects in healthcare, find out their causes and explore the ways in which the risks can be mitigated. This approach has been a striking evolution in the current healthcare sector. Telemedicine is hugely successful in the operations of the organization. Inspite of the huge success ratio, there are certain risks associated with Telemedicine which needs to be managed. The Literature review on Telemedicine was conducted in three core areas: A review of the current trends and challenges in Telemedicine A review of few of the risk mitigation techniques associated with Telemedicine A review of the current practices of Telemedicine with adaptation to project risk management
This is viable because most of the issues regarding healthcare risks, including the most recent ones, have been documented by various researchers. Therefore, several relevant materials will be analyzed to come up with the appropriate solutions to the existing problems. According to some of the literature reviews, the interventions on the health care risks can be categorized into three: the detection, mitigation, and the action to reduce the risks. The preliminary studies indicate that the various healthcare risks result from medical errors, patient privacy breaches, diagnostic errors, and hazardous conditions, among others. Most of these risks involve the healthcare staff and the hospitals in general. It is therefore important for a program to be developed on how to mitigate the risks. Such programs have been initiated in the various hospitals across the world in the developing countries. What has not been provided is the comprehensive information on the cause of the risks and how they can be mitigated appropriately
Impediments in Transitioning to Agile Time-boxing Testing Efforts
Get PDFIn agile framework, the system is developed in sprints. Some value-based products for the customers are created with completion of work in a sprint. There are firm dates of commencement and end in sprints, and duration of each sprint is normally equal. During a sprint, any change in scope or resources cannot be made. But sometimes it becomes difficult to follow this rule on account of the business needs. This time-boxing approach is seen responsible to cause more hindrance than propel organizations towards time-efficient development of products. This type of project demands a much more flexible time-line as compared to standard agile project management practices of ‘Sprint’ used for creating cost-effective products within time. Similar problems are faced by the organizations transitioning from traditional method to agile practices. From different sources of research it is found the transition could not be smooth in all cases and sometimes was unable to achieve the expected business growth due to various factors. A number of options and approaches are discussed for helping an organization transitioning from traditional to agile methodology but any unique and full-proof approach cannot be arrived at. Ultimately it becomes a question: can we overcome difficulty in time-boxing approach with discrepancies in testing efforts and get a systematic and tabulated solution of the problem in transitioning to agile? Through this research having limitations the answer in all respect cannot be reached. The question is left with ample scope for further research by future researchers as well
BUSINESS PERSPECTIVE E-BANKING SYSTEMS IN INDIA
Get PDFThe paper seeks to explore how internet or e-banking has improvised the efficiency and adequacy in the banking sector within a very short span of time, Research Design/Process in Financial Organization, Methods of Data Collection, taking into consideration the trends, challenges of E-banking, the security measures and propound a solution that can root out the fraud in e-banking.
I would like to thank my professor Dr. Stephen Onu for all the guidance he is providing me for the completion of the paper. I would also want to thank Professor Prof. John Clark for helping me out with the research with the thesis topic. I would say this paper would never have been possible without them.
I shall also thank my friends and family who for being supportive right from the day I have started my research work. And finally, I would like to thank Harrisburg University for providing me with all the resources and guidelines required for the research
Implementing Agile Methodology Techniques in Automobile Industry
Get PDFAutomotive industries have continued to expand, as they cut on costs by regulating efficiency, grow and make profits. The factors that have continued to change the industry include marketplace growth, outsourcing for product development, customers demanding for improved reliability, development of human-vehicle software and have continued to change the automotive industry. As a result, companies have continued to face numerous challenges to manage the factors. The challenges include managing volatility, experiencing massive uncertainty, as well as reduced predictability of future businesses. Other challenges include handling a complex and interconnected industry and the need to form joint ventures and maintain successful supplier relationships.
The Automotive businesses must change their operating models to advance agility. An example includes ensuring OEMs is flexible to operate across the value chain and provide value-add, as well as personalized experiences. The Automotive companies must learn from Google and Uber that have embraced digital activities to market new business models that can promote innovation. The study conducted by Crute et al. (2013) showed that over 30% of automotive businesses are willing to invest in advanced business models likely to drive value from new capabilities. According to Elkins et al. (2014), having an advanced operating model permit digital abilities that could reduce costs and support growth.
While rethinking of an operating model, the automotive companies must choose the ones that are digital to help them improve efficiency as well as agility. According to Hallgren and Olhanger, (2009), when companies operate on lean strategies, then they free up costs that could likely to be reinvented to other significant fuel growth strategies and maintain a competitive advantage in the industry. When companies invest in new business models and advanced digital abilities, then they engage in aggressive growth. An example includes automotive firms moving beyond manufacturing of vehicles to join the wider ecosystem that opens new business opportunities to build new capabilities, collaborate with other partners to invest heavily in innovation (Poppendieck & Cusumano, 2012).
The focus is on improving customer experiences through expansion strategies that include joint ventures or acquisitions. It is impossible for companies to enhance efficiency and performance without having a talented staff that is committed to the delivery of quality products and services. Digital activities and innovation-driven automotive industry have increased stakes for company processes across the value chain. Devadasan (2012), therefore believes dealerships, OEMs, and manufacturers of vehicle parts require individuals that are digital savvy to initiate the transition to digital corporations (Tuck et al. 2006). The techno-savvy employees use digital strategies to improve customer experience, leading to many companies to invest in human resource practices such as training of employees
Adopt Agile Methodology for Building Wealth Management Platform Building
Get PDFAgile software development is becoming very important software development methodology in the IT world because it is iterative and its agility. This research shows how the agile methodology helps to deploy the project smoothly by saving time and money. This research also shows the benefits of adopting agile than following traditional procedure. The result of the research would help to adopt and implement the agile methodology and would help to achieve the business goals
