Learning Organizational Strategy Management Science

<p>Management strategy becomes a management science concept when it moves beyond intuition and adopts a rigorous evidence-based framework that accounts for cognitive biases. In classical management science models often assume that managers act as Econs-rational agents who maximize utility.</p><p>However behavioral economics introduces the reality that managers are subject to heuristics such as loss&nbsp; and overconfidence which can systematically distort strategic outcomes. By incorporating these behavioral variables into quantitative models management science can predict organizational behavior with greater accuracy.</p>