Managerial Judgement

This subject has the following teaching availabilities in 2016:

This subject is only available to students admitted to GD-BA, MC-BAPT, MC-BAPTME, 294PN, or students with permission of the MBA course coordinator

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

The brain is a remarkable biological machine, moulded through millions of years of evolutionary pressure. More recent changes in human history have created a gap between the world for which our brains were developed, and the world in which we currently live. This mismatch creates constraints for many aspects of management and leadership. We suffer from strong biases that hinder good decision-making, we are more emotionally sensitive to threat than we need to be, and we often fail to develop realistic perceptions of others and of ourselves. Fortunately, scientists have generated a great deal of knowledge that allows us to identify these deficiencies and to find remedies for them, and there are many applications of these findings that provide opportunities for the improvement of management. This subject is based on state-of-the-art neurobiological research that sheds light on the obstacles we face when making decisions and managing our emotions. By discovering the roots of many of these difficulties we can also learn solutions to the problems created by our biological history.

On completion of this subject, students should be able to:

• Understand important biases in decision-making, particularly with regard to:

- The framing of decision problems
- The collection and interpretation of information
- The selection of strategic options

• Appreciate the positive and negative role that emotions can play in our decisions and behaviour
• Improve the ability to manage with resonant leadership

Class participation 15%

Individual written paper (equivalent to 2000 words) 35%

Final examination (equivalent to 2500 words, end of subject) hurdle requirement) 50%

This subject is not available as a breadth subject.

This subject is only available to students admitted to GD-BA, MC-BAPT, MC-BAPTME, 294PN, or students with permission of the MBA course coordinator