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Conclusion

This free course provided an introduction to studying the arts and humanities. It took you through a series of exercises designed to develop your approach to study and learning at a distance and helped to improve your confidence as an independent learner.


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Marketing communications as a strategic function
Marketing communications help to define an organisation's relationship with its customers. This free course, Marketing communications as a strategic function, emphasises the strategic importance of such communication and its long-term effect on consumers. Communication models can act as a predictive guide, but in the end it is important to recognise the autonomy and unpredictability of consumers.Author(s): Creator not set

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Building relationships with donors
Legacy fundraising and big-gift seeking are part of the professional fundraiser's role. This free course, Building relationships with donors, will help you to gain the skills necessary to persuade individuals to become donors. How do you change people's ideas about methods of giving, moving them from casual street donations to regular direct debit giving?Author(s): Creator not set

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Retail marketing
This free course, Retail marketing, explores how retailers use marketing to communicate with their customers, considering definitions of retailing and consumers, the basics of communications, before moving on to look at different forms of marketing communications and advertising used by retailers. First published on Wed, 17 Apr 2019 as Author(s): Creator not set

5 Conclusion

Knowledge technologies, as software systems, embody formal models of how the world works: for example, networks between people, what their roles are, how information should flow, rules about interdependences between variables, and how to index and categorise information. If well designed, such models relieve people of mundane activities, allowing them to focus on what they do best: communication, negotiation, creative problem solving: that is, the construction of new shared meaning. At their
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4.1 Scientific management

Frederick Winslow Taylor, who is often regarded as the father of modern management, was an engineer, born of a wealthy Pennsylvanian family. He was expected to go into the law or some other genteel profession: instead he preferred to work on the shop floor. As he reflected on his experiences as a foreman in the Midvale Steel Works, he concluded that the workers knew more about the actual processes they were working on than their managers did. Workers could tell stories about why things were t
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Acknowledgements

Except for third party materials and otherwise stated (see terms and conditions), this content is made available under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 Licence

The material acknowledged below is Proprietary and used under licence (not subject to Creativ
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References

Brown, A. (1995) Organisational Culture, London, Pitman.
Crace, J. (2000) ‘Feel at home with a job abroad’, Guardian, 14 October.
Drennan, D. (1992) Transforming Company Culture, London, McGraw Hill.
Hofstede, G. (1980) Culture's Consequences: International Differences in Work Related Values, London, Sag
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References

Ansoff, H.I. (1965) Corporate Strategy, Penguin, Harmondsworth.
Galambos, L. and Sturchio, J. (1996) ‘The pharmaceutical industry in the twentieth century: a reappraisal of the sources of innovation’, History and Technology, Vol. 13, pp. 83–100.
Gambardella, A. (1995) Science and Innovation in the US Pharmaceutical Industry, Cambridge University Pres
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Conclusion

This free course provided an introduction to studying Business & Management. It took you through a series of exercises designed to develop your approach to study and learning at a distance and helped to improve your confidence as an independent learner.


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2.3 The life sciences sector in perspective

Before leaving the ‘big picture’ of the evolution of the pharmaceutical industry, it is important not to give the impression that it is the sole, or necessarily even the central, player in health provision. As in any other industry, it can contribute only because it operates in a wider sphere populated not only by other institutions and organisations but also by more amorphous socio-political ambitions, values and beliefs. For example, the medical technology industry facilitates health by
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2.2 Modern history – an evolution

So, what is modern about ‘modern medicine’? Several key scholars – notably Schwartzman (1976), Gambardella (1995), Galambos and Sturchio (1996) and Henderson et al. (1999) – have detected a pattern in the recent development of the industry which may help address this question. According to these scholars, the modern history of the industry can be analysed as an evolutionary process. This may involve changes, which are self-created, or adaptation to discrete technological or institutio
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7.5 Becoming an institutional entrepreneur

While acting in ways that are seen to be legitimate is important for both individuals and organisations, social institutions are not immutable. Some people and organisations seem to have a talent for changing the rules of the game.

Some writers have referred to this as being an institutional entrepreneur. At the organisational level examples might include organisations such as Microsoft or Sun Microsystems working actively to establish industry standards which favour them. At the
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7.4 Avoiding decision traps

While it is not possible to change our human natures, it is possible to immunise ourselves to some extent against common decision traps. Useful strategies include:

  • Get in the habit of reframing problems. For example, if you are considering strategies for avoiding a loss of €10,000 try asking yourself if you would feel differently if you consider them as strategies for making a gain of €10,000.

  • Think about the information you have
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7.3 What is an effective decision?

To improve decision making it is first important to have a clear idea of how we should judge an effective decision. While in this course we have suggested that decisions often stray from formal rationality, this does not always mean those decisions are less effective. Sometimes it is smart to take mental shortcuts: drawing on hunches and intuition can allow us to tap our tacit knowledge and experience and can reduce the costs of decision making. It can be smart to ask what is ‘legitimate’
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7.2 Understanding the limits of rationality

An important first step in making more effective decisions is to understand the limits of human rationality. Because of these limits we have developed formal processes for reasoning: statistics; probability theory; modelling methods; and so on. We have also developed technologies such as computers to support us in processing information. These are certainly useful, but it is always important to remember they are used by humans and can be easily subverted. For example:

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6.4.1 Implications

What does this all imply for decision making? First, the importance of control perceptions to decision makers' perceptions of risk suggests an important source of bias. In a study of managers' risk taking, Zur Shapira (1995) found that managers would often discount risks on the basis that they felt they could control them. In my own research on traders' decision making, I found traders to suffer from control illusions and their risk judgement and performance to suffer in consequence: illusory
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