TBC

Core course for MSc Management and Strategy. Optional for MSc Management. Students are required to obtain permission from the teaching department to take this course, unless it is a compulsory course for their programme

In this course we investigate aspects of management and the internal organisation of the firm. We start by discussing management decision making in the light of general heuristics and biases exhibited by individuals and groups and ask how organisations might help to mitigate negative consequences arising from these predispositions. We also shed light on the management of teams and non-monetary aspects of motivation. Other topics include formal and informal structures of organisations, leadership, power, authority, delegation, entrepreneurship, innovation, promotions and careers. We conclude by looking at two intangible assets of organisations: corporate culture and corporate social responsibility.

Students are introduced to a set of frameworks which will enable them to critically evaluate contemporary management approaches. The organising principle of much of the content of the course has its origins in economic theory and empirical behavioural observations which are applied to issues and ideas relevant to management. Additionally we draw upon findings form psychology and sociology.

The course complements MN404 (Incentives and Governance in Organisations) but can be taken as a stand-alone course. Whereas MN404 focuses on incentive contracts, principal-agent models and topics in finance, this course focuses more on aspects of informal structure.

10 two-hour lectures and 10 one-hour classes in the LT.

A course pack will be provided at the beginning of the course.

As a preliminary teaser see:  P Milgrom & J Roberts, Economics, Organization and Management; J A Brickley, C W Smith & J L Zimmerman, Managerial Economics and Organisational Architecture.

A formal two-hour examination in the ST.