SMART MANAGEMENT
How Simple Heuristics Help Leaders make Good Decisions in an Uncertain World
In Smart Management, the authors demonstrate how business leaders can utilize heuristics — simple decision-making strategies adapted to the task at hand. Building on the fast-and-frugal heuristics program, the book demonstrates the efficacy of heuristic decision making in a twofold approach. First, it introduces the concept of ecological rationality, which prescribes the environmental conditions under which specific heuristics work well. Second, the book describes a repertoire of heuristics, referred to as the adaptive toolbox, that leaders, managers, and professionals can develop and rely on to make a variety of decisions, such as on business strategy, negotiation, and personnel selection. The toolbox not only showcases the practical usefulness of these heuristics but also inspires readers to discover and develop their own smart heuristics.
