scholarly journals Review of Innumeracy in the Wild: Misunderstanding and Misusing Numbers by Ellen Peters

Numeracy ◽  
2021 ◽  
Vol 14 (1) ◽  
Author(s):  
Gizem Karaali

Ellen Peters’s new book Innumeracy in the Wild: Misunderstanding and Misusing Numbers (Oxford University Press, 2020) is a whirlwind tour of psychological research on numeracy and its interactions with decision-making. The book is packed full of convincing arguments about the impact of numeracy and innumeracy on people's decisions and life outcomes, piles of supporting evidence and relevant references, and detailed expositions of multitudes of research results. Thus, it can serve the motivated reader well as a comprehensive literature review of psychologically oriented research on numeracy and decision-making.

Numeracy ◽  
2021 ◽  
Vol 14 (1) ◽  
Author(s):  
Ellen M. Peters

Peters, E. (2020). Innumeracy in the Wild: Misunderstanding and Misusing Numbers. (New York, NY: Oxford University Press) 315 pp. ISBN 978-0190861094 This piece briefly introduces and excerpts Innumeracy in the Wild: Misunderstanding and Misusing Numbers, written by Ellen Peters and published by Oxford University Press. Through a state-of-art review of the literature, the book explains how numeric ability supports the quality of the decisions people make and the life outcomes they experience. It presents three ways that people can be good or bad with numbers and how each of these numeric competencies matter to decision making.


Author(s):  
Brahim Jabir ◽  
Noureddine Falih ◽  
Khalid Rahmani

<p>In the socio-economic world, the human resources are in the most top phase of the enterprise evolution. This evolution began when the arithmetic, statistics are applicable over a vast of opportunities and used to identify problems and support decision. However, analytics has been emerged to provide predictions and understand the people performance based on available data.</p>In light of this vast amount of information, human resources services need to deploy a predictive management model and operating system of analytics that can be an efficient and an instead solution that can respond to the gaps of the traditional existing ones and facilitate the decision making. In this paper, we present a literature review of this HR analytics concept and a case study concerning the impact of interventions using an analytics solution.<p> </p>


Author(s):  
Rozana A Huq

Abstract- There is a growing realisation that in the complexity of the post-modern world, it is becoming less and less feasible to concentrate leadership and decision-making solely at the top of the organisation.  Hence, one of the reasons for empowering employees is that employees are able to take decisions quickly, without looking for manager’s approval all the time, in a participative decision-making capacity. But, the lack of knowledge about employee empowerment and the absence of a framework for implementation has created problems.  Although there is high consensus in the management literature that employee empowerment is necessary for the survival and success of organisations, there are still considerable gaps in our knowledge and understanding of a range of issues concerning employee empowerment, both at the conceptual and practice levels [Conger and Kanungo, 1988; Morrell and Wilkinson, 2002; Huq, 2008; 2010; 2015].  This lack of knowledge is dangerous, as it has serious implications how ‘managers and non-managers conceptualize employee empowerment’ [Hill and Huq, 2004: 1025]. The aim of this research titled: An Investigation of What Employee Empowerment Means in Theory and in Practice [Huq, 2008] was to investigate the meaning of employee empowerment both at the conceptual and practice levels.  An interpretivist approach employing qualitative methods was adopted; it involved conducting two in-depth information-rich case studies, described in this paper as Large Organisation and Small Organisation respectively. The knowledge drawn from the management literature review proved unsatisfactory, hence this author felt the need to conduct a multi-disciplinary research review in order to draw knowledge from another discipline, namely social work [Huq 2008; 2015], where empowerment is an important construct.  However, it is important to note that due to limited space, this author is unable to go into details of both the literature reviews, management and social work, in this paper.It is sufficient for this paper to report that a number of ‘themes’ of employee empowerment exist, but they are fragmented in the management literature. These ‘themes’ are not found in any one place, which leads to confusion when organisations try to implement employee empowerment.  Furthermore, there is a gap with regards to the knowledge of employee empowerment in the management literature and it is important to look at another discipline to get a fuller understanding of ‘empowerment’. A multi-disciplinary literature review thus enabled this author to put together themes of empowerment from the management and social work literature that are relevant to employee empowerment.  These seven themes of employee empowerment are as follows: power-sharing, participative decision-making, devolution of responsibility, people-oriented leadership style, access to information, collaboration and enablement, described as a ‘kaleidoscope of themes’Huq’s Model C, [Huq, 2015], as illustrated in the ‘Introduction’ section of this paper. One of the conclusions of this research is that leaders and managers need to pay attention to the impact of participative decision-making with regards to empowering employees, which has significant implications for human resource management and if implemented properly can lead to a more judicious utilisation of human resources at all levels.


Author(s):  
Hamza Samouche ◽  
Abdellah El Barkany ◽  
Ahmed El Khalfi

Many companies are facing a constant need to develop coordination between operational functions to quickly respond to customer requests. Thus, many practitioners are resorting to an established and integrated business management methodology, the Sales and Operations Planning (S&OP). The impact of the S&OP on operational performance was significantly demonstrated in many studies. However, it turns out that the theoretical studies made differ from what is actually applied, in addition to several parameters that are considered in the calculations especially with regard to Japanese industries. So, how is S&OP operated in this industry? What are the different calculation parameters used? and how are the results obtained and analyzed?In this paper, we will first present a short literature review of S&OP and its role and benefits. Then, we present a model of S&OP used in a wire harnesses Japanese industry. The goal is to show first a concrete example, where we present the various parameters considered in the calculations, and then we will explain how the resulting graphs are analyzed by managers and what could be done as corrective actions in case of gap existing.


2015 ◽  
Vol 7 (1) ◽  
pp. 88-108 ◽  
Author(s):  
Satish Kumar ◽  
Nisha Goyal

Purpose – The purpose of this paper is to systematically review the literature published in past 33 years on behavioural biases in investment decision-making. The paper highlights the major gaps in the existing studies on behavioural biases. It also aims to raise specific questions for future research. Design/methodology/approach – We employ systematic literature review (SLR) method in the present study. The prominence of research is assessed by studying the year of publication, journal of publication, country of study, types of statistical method, citation analysis and content analysis on the literature on behavioural biases. The present study is based on 117 selected articles published in peer- review journals between 1980 and 2013. Findings – Much of the existing literature on behavioural biases indicates the limited research in emerging economies in this area, the dominance of secondary data-based empirical research, the lack of empirical research on individuals who exhibit herd behaviour, the focus on equity in home bias, and indecisive empirical findings on herding bias. Research limitations/implications – This study focuses on individuals’ behavioural biases in investment decision-making. Our aim is to analyse the impact of cognitive biases on trading behaviour, volatility, market returns and portfolio selection. Originality/value – The paper covers a considerable period of time (1980-2013). To the best of authors’ knowledge, this study is the first using systematic literature review method in the area of behavioural finance and also the first to examine a combination of four different biases involved in investment decision-making. This paper will be useful to researchers, academicians and those working in the area of behavioural finance in understanding the impact of behavioural biases on investment decision-making.


2019 ◽  
Vol 7 (1) ◽  
pp. 1
Author(s):  
Adhikara Joshua Sutisna ◽  
Martani Huseini

This article is conducted based on a simple question: why big companies fail? Nowadays, companies are faced with market conditions that are far different compared to a few years ago. Starting from consumers who demand the speed and convenience of the products or services they will consume, until the competition becomes very tight due to the large number of newcomers emerging. Therefore, companies cannot use their old ways that might have worked in the past. Companies must be able to adapt to the current conditions by making various innovations both from the products and processes they do within the company to survive in the market of this era. However, innovation is not as simple as creating something new and different from the others. An innovation process can be said to succeed if the company can not only create a new product or process, but also can distribute the results of the innovation process so that many parties can feel the impact of their innovation. This is a qualitative research that uses comprehensive literature review to analyse the problem. The purpose of this study is to discuss two factors that have an important role in the success of an innovation process, namely creation and deployment. The output of this research is in the form of a table of operationalization of concepts that are expected to be used to help the success of the parties who will carry out an innovation process. Keywords: Innovation, Innovation Process, Creation, Deployment


2010 ◽  
Vol 50 (1) ◽  
pp. 389
Author(s):  
Matthew B. Welsh ◽  
Nigel Rees ◽  
Hugh Ringwood ◽  
Stephen (Steve) H. Begg

The ‘planning fallacy’ describes the tendency of people to underestimate costs and times required for the completion of complex projects. Psychological research has demonstrated that a key component of this results from the packing/unpacking bias—where options or problems that are not specifically stated tend to be ignored by people when making estimates or assigning probabilities to events. We have investigated this effect as it relates to oil and gas decision making, highlighted by experimental results comparing estimates of drilling times made by both student and industry participants. Specifically, participants were provided with a drilling scenario and asked to estimate the time required to drill the well—including drilling, tripping, rigging and all potential problems. In the packed condition the options were given as just stated while, in the unpacked condition the ‘all potential problems’ category was divided into a list of specific problems. The packing effect was shown to markedly alter the time estimates made by all groups of participants—altering estimates of problem times by more than 100 hours on average. Additional analyses assessed the interactions between the packing/unpacking effect and personal traits such as optimism, tendency to procrastinate and industry experience. These findings are discussed in terms of their import for oil and gas decision makers desiring to improve prediction accuracy and, thus, economic outcomes by avoiding, or limiting, the impact of the planning fallacy.


2021 ◽  
Vol 4 (1) ◽  
pp. 19-32
Author(s):  
Brian J. Galli

This paper aims to identify and assess the impact of the project manager's economic decision on a project's outcome. Therefore, this paper focuses on whether a project will be economically and financially viable and will meet the interests of both external and internal stakeholders, especially the project manager's attention. Thus, the objective is to find in the decision-making process how economic decisions can provide and ensure an appropriate level of financial return rate to external and internal stakeholders, such as the project manager. The literature review approach was used to identify this economic decision-making implications on the project's outcomes. Studies show how projects' future is associated with decision making. However, a literature review has shown a shortage of research on the impact of only economic decisions on the project manager and project outcome. This study aims to fill that gap.


2019 ◽  
Vol 19 (1) ◽  
pp. 85-105
Author(s):  
Bindiya Gupta ◽  
Shweta Mittal ◽  
Vivek Mittal

The current recruitment scenario, which is highly dynamic and challenging, calls for the attention of academics and practitioners alike. Recently, several studies were conducted to understand the possible relationship between employer branding and employee retention (Gilani & Cunningham, 2017; Wilden, Gudergan, & Lings, 2010). In the present study, an attempt has been made to explore the impact of employer branding on employee recruitment and retention. A comprehensive literature review of previous studies on this topic was conducted, in an attempt to understand the influence of employer branding on each aspect of recruitment. For this purpose, concepts from signalling theory, person-organisation fit and social identity were considered. Careful analysis of previous studies reveals that employer branding has an impact on an organisation's ability, not only to recruit, but also to retain, desired employees. Further, the organisations which are able to successfully project their images as potential employers of choice are bound to reap benefits in the long run.


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