BusinessPundit, recently highlighted in Business and the Tragic View of Human Nature that:
"The field of management has a long way to go...a better understanding of human nature (via neuroscience) will allow us to better target management tactics for specific situations, industries, and most importantly, individuals...Good managers are masters of situationalism (if that's a word). They can tailor their tone, attitude, strategies, tactics, etc. to the needs of the individual situation. I think in the future, management will move from being more of an art to being more of a science. In my opinion, management is still in its infancy."
I agree with Rob's assessment, and would add that the tools management will use to help them achieve their objectives will come via neurotechnology. Indeed, improving competitive performance via neuroceuticals will accelerate many aspects team performance by improving individual emotional stability and cognitive clarity. But the effects will go far beyond this: to the nature and shape of the firm.
By radically reducing the spatial transaction cost of finding and sharing knowledge, information technology has played an important role in flattening organizations down from their hierarchical, industrial predecessors.
Neurotechnology will also impact the "typical organization" of the firm in its own unique ways. As we learn more about the neurobiology of trust, how people make decisions, and the many other components of human social interaction that go into everything from contract development to dispute resolution, the emotional transaction cost of doing business will drop precipitously. In my research, I have come to believe that we will see a further flattening of organizational structures and the emergence of real heterarchies.
What do you think?
(Thanks to the Carnival of the Capitalists for bringing this to my attention.)