Neuromanagement

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Neuromanagement uses cognitive neuroscience, among other life science fields, and technology to analyze economic and managerial issues. It focuses on exploring human brain activities and mental processes when people are faced with typical problems of economics and management. This research provides insight into human decision-making and other general social behavior. The main research areas include decision neuroscience, neuroeconomics, neuromarketing, neuro-industrial engineering, and neuro-information systems. Neuromanagement was first proposed in 2006 by Professor Qingguo Ma, [1] the director of Neuromanagement Laboratory of Zhejiang University.

Contents

Decision neuroscience

Decision neuroscience consists of the following aspects:

Neuromarketing

Neuromarketing derives from research on neural features of consumer behavior. Using neural activity to interpret consumer behavior provides insight into the neural mechanism underlying different consumer decision-making behavior. Marketing experts can then determine what will encourage different consumers to make a purchase and produce appropriate marketing strategy, including general marketing, branding and how these relate to customer loyalty. Neuromarketing research is mainly composed of neuro-consumer behavior, neuro-marketing strategy and neuro-advertising.

Neuro-industrial-engineering

The concept of neuro-industrial engineering was conceived by Qingguo Ma. It is an interdisciplinary subject of cognitive neuroscience and industrial engineering. Neuro-IE studies human cognition and uses advanced neuroscience and biofeedback technology to measure physiological responses in order to acquire data for further analysis, which provides insight into people's mental states without subjective consciousness control. Then this data, people's neuro activities with physiological and psychological states in the production process, are applied to operations management to improve processes for workers. [2]

Neuro-Information-Systems (NeuroIS)

The concept of NeuroIS was formally proposed at the 2007 International Conference on Information Systems (ICIS). The proposal discussed four major opportunities for the application of cognitive theory, methods and techniques on information system issues, particularly in technology adoption and application, e-commerce and group decision support systems. [3] Subsequently, the study of NeuroIS has been published in MIS Quarterly, Information Systems Research, as well as presented at ICIS and Americas Conference on Information Systems.

Neuro-entrepreneurship

This incorporates the interior characteristics of the entrepreneurs to study the neural basis of innovation. More important, neuroentrepreneurship focuses on what if often called the "entrepreneurial mindset" by looking at "what lies beneath" more surface level entrepreneurial thinking such as intentions. [4] Neuroentrepreneurship thus offers new insights into understanding what happens in experiential learning as is essential in entrepreneurship education. [5] [6] [7]

Neuromanagement Lab

Neuromanagement Lab was established in 2006 as one of the first labs established in China specialized in researches elucidating the micro-mechanisms of management activities in an interdisciplinary field integrating management science, economics, and cognitive neuroscience. The lab is located at Zhejiang University and equipped with standard cognitive neuroscience and behavioral experiment rooms. The lab has recently focused on researches on interdisciplinary fields including Decision Neuroscience, Neuroeconomics, Neuromanagement, Neural-Industrial Engineering, Neuromarketing, and Social neuroscience.

The Lab has undertaken over 30 national, ministerial or provincial-level projects since establishment. The project on Neuromarketing and the project on decision-making (both sponsored by the National Social Science Foundation of China) were the first projects approved in their academic fields. Moreover, the lab has hosted approximately 10 high-level academic symposiums, including the International Conference on Neuromanagement and Neuroeconomics.

Related Research Articles

<span class="mw-page-title-main">Cognitive science</span> Interdisciplinary scientific study of cognitive processes

Cognitive science is the interdisciplinary, scientific study of the mind and its processes with input from linguistics, psychology, neuroscience, philosophy, computer science/artificial intelligence, and anthropology. It examines the nature, the tasks, and the functions of cognition. Cognitive scientists study intelligence and behavior, with a focus on how nervous systems represent, process, and transform information. Mental faculties of concern to cognitive scientists include language, perception, memory, attention, reasoning, and emotion; to understand these faculties, cognitive scientists borrow from fields such as linguistics, psychology, artificial intelligence, philosophy, neuroscience, and anthropology. The typical analysis of cognitive science spans many levels of organization, from learning and decision to logic and planning; from neural circuitry to modular brain organization. One of the fundamental concepts of cognitive science is that "thinking can best be understood in terms of representational structures in the mind and computational procedures that operate on those structures."

<span class="mw-page-title-main">Cognitive neuroscience</span> Scientific field

Cognitive neuroscience is the scientific field that is concerned with the study of the biological processes and aspects that underlie cognition, with a specific focus on the neural connections in the brain which are involved in mental processes. It addresses the questions of how cognitive activities are affected or controlled by neural circuits in the brain. Cognitive neuroscience is a branch of both neuroscience and psychology, overlapping with disciplines such as behavioral neuroscience, cognitive psychology, physiological psychology and affective neuroscience. Cognitive neuroscience relies upon theories in cognitive science coupled with evidence from neurobiology, and computational modeling.

The following outline is provided as an overview of and topical guide to neuroscience:

Neuroeconomics is an interdisciplinary field that seeks to explain human decision-making, the ability to process multiple alternatives and to follow through on a plan of action. It studies how economic behavior can shape our understanding of the brain, and how neuroscientific discoveries can guide models of economics.

<span class="mw-page-title-main">Consumer behaviour</span> Study of individuals, groups, or organisations and all the activities associated with consuming

Consumer behaviour is the study of individuals, groups, or organisations and all the activities associated with the purchase, use and disposal of goods and services. Consumer behaviour consists of how the consumer's emotions, attitudes, and preferences affect buying behaviour. Consumer behaviour emerged in the 1940–1950s as a distinct sub-discipline of marketing, but has become an interdisciplinary social science that blends elements from psychology, sociology, social anthropology, anthropology, ethnography, ethnology, marketing, and economics.

As part of consumer behavior, the buying decision process is the decision-making process used by consumers regarding the market transactions before, during, and after the purchase of a good or service. It can be seen as a particular form of a cost–benefit analysis in the presence of multiple alternatives.

Neuromarketing is a commercial marketing communication field that applies neuropsychology to market research, studying consumers' sensorimotor, cognitive, and affective responses to marketing stimuli. The potential benefits to marketers include more efficient and effective marketing campaigns and strategies, fewer product and campaign failures, and ultimately the manipulation of the real needs and wants of people to suit the needs and wants of marketing interests.

Neuroinformatics is the field that combines informatics and neuroscience. Neuroinformatics is related with neuroscience data and information processing by artificial neural networks. There are three main directions where neuroinformatics has to be applied:

Social neuroscience is an interdisciplinary field devoted to understanding the relationship between social experiences and biological systems. Humans are fundamentally a social species, rather than solitary. As such, Homo sapiens create emergent organizations beyond the individual—structures that range from dyads, families, and groups to cities, civilizations, and cultures. In this regard, studies indicate that various social influences, including life events, poverty, unemployment and loneliness can influence health related biomarkers. The term "social neuroscience" can be traced to a publication entitled "Social Neuroscience Bulletin" which was published quarterly between 1988 and 1994. The term was subsequently popularized in an article by John Cacioppo and Gary Berntson, published in the American Psychologist in 1992. Cacioppo and Berntson are considered as the legitimate fathers of social neuroscience. Still a young field, social neuroscience is closely related to personality neuroscience, affective neuroscience and cognitive neuroscience, focusing on how the brain mediates social interactions. The biological underpinnings of social cognition are investigated in social cognitive neuroscience.

<span class="mw-page-title-main">IULM University of Milan</span> University in Milan, Italy

The IULM University - Milan is a university located in Milan, Italy. It was founded in 1968 and is organized in four faculties.

Martin Reimann is a psychologist and marketing researcher. He is an associate professor of marketing at the Eller College of Management at the University of Arizona.

Consumer neuroscience is the combination of consumer research with modern neuroscience. The goal of the field is to find neural explanations for consumer behaviors in individuals both with or without disease.

<span class="mw-page-title-main">Tania Singer</span> German social neuroscientist (1969-)

Tania Singer is a German psychologist and social neuroscientist and the scientific director of the Max Planck Society's Social Neuroscience Lab in Berlin, Germany. Between 2007 and 2010, she became the inaugural chair of social neuroscience and neuroeconomics at the University of Zurich and was the co-director of the Laboratory for Social and Neural Systems Research in Zurich. Her research focuses on the developmental, neuronal, and hormonal mechanisms underlying human social behavior and social emotions such as compassion and empathy. She is founder and principal investigator of the ReSource project, one of the largest longitudinal studies on the effects of mental training on brain plasticity as well as mental and physical health, co-funded by the European Research Council. She also collaborates with the macro-economist Dennis Snower on research on caring economics. Singer's Caring Economics: Conversations on Altruism and Compassion, Between Scientists, Economists, and the Dalai Lama was published in 2015. She is the daughter of the neuroscientist Wolf Singer.

Paul W. Glimcher is an American neuroeconomist, neuroscientist, psychologist, economist, scholar, and entrepreneur. He is one of the foremost researchers focused on the study of human behavior and decision-making, and is known for his central role in founding and developing the field of neuroeconomics which takes an interdisciplinary approach to understanding how humans make decisions. Glimcher also founded the Institute for the Study of Decision Making at New York University (NYU). Today he serves as Chair of the Department of Neuroscience and Director of the Neurosciences Institute at NYU's Grossman School of Medicine.

<span class="mw-page-title-main">Innerscope Research</span>

Innerscope Research was an integrated consumer neuroscience research firm that was acquired by Nielsen in 2015. Founded in 2006, Innerscope was based in Boston, Massachusetts with an office in New York City. Using applied neuroscience tools such as biometrics, eye tracking, facial coding as well as fMRI, often integrated with traditional measures of self-report, the company aims to measure in a more comprehensive way consumers’ non-conscious emotional connection to brands, products and services.

<span class="mw-page-title-main">Russell Poldrack</span>

Russell "Russ" Alan Poldrack is an American psychologist and neuroscientist. He is a professor of psychology at Stanford University, associate director of Stanford Data Science, member of the Stanford Neuroscience Institute and director of the Stanford Center for Reproducible Neuroscience and the SDS Center for Open and Reproducible Science.

Giorgio Coricelli is professor of economics and psychology at the University of Southern California, specializing in neuroeconomics. Having done his undergraduate studies at La Sapienza in Rome, he then completed his Ph.D. at the Economic Science Laboratory of the University of Arizona studying with Vernon Smith, shortly before Smith received his Nobel Prize in economics in 2002.

Kai-Markus Müller is a German neuroscientist, entrepreneur, and professor. He is Professor of Consumer Behavior at HFU Business School in Villingen-Schwenningen, Germany. Müller previously acted as founder and CEO of The Neuromarketing Labs, a consumer neuroscience research company based in Aspach, Germany. He is known for having developed an EEG-based research technique for measuring willingness to pay. He is an alumnus of consulting firm Simon-Kucher & Partners.

Neuro-Information-Systems (NeuroIS) is a subfield of the information systems (IS) discipline, which relies on neuroscience and neurophysiological knowledge and tools to better understand the development, use, and impact of information and communication technologies. The field has been formally established at the International Conference on Information Systems (ICIS) in 2007.

<span class="mw-page-title-main">Carlos Alós-Ferrer</span> Economist (Universität zu Köln)

Carlos Alós-Ferrer is a professor of decision and neuroeconomic theory at the University of Zurich and is currently the editor in chief of the Journal of Economic Psychology.

References

  1. Q. Ma, X. Wang, Cognitive neuroscience, Neuroeconomics, and Neuromanagement, Management World 10 (2006) 139-149.
  2. Q. Ma, J. Bian, W. Ji, et al. Research on warnings with new thought of neuro-IE[J]. Procedia Engineering, 2011, 26: 1633-1638.
  3. A.Dimoka, P.A. Pavlou, and F. Davis. Neuro-IS: the potential of cognitive neruoscience for information systems research. in International Conference on Information Systems. 2007. Montreal.
  4. Krueger, N. F. (2007). What lies beneath? The experiential essence of entrepreneurial thinking. Entrepreneurship Theory and Practice, 31(1), 123-138.
  5. Krueger, N. & Welpe, I. (2014). Neuroentrepreneurship: what can entrepreneurship learn from neuroscience?. In Annals of Entrepreneurship Education and Pedagogy, Edward Elgar Publishing.
  6. Krueger, N. (2015). Thematic Paper on Entrepreneurial Education in Practice Part 1: The Entrepreneurial Mindset. ed: Organisation for Economic Co-operation and Development (OECD).
  7. Kaffka, G., & Krueger, N. (2018). The Entrepreneurial ‘Mindset’: Entrepreneurial Intentions from the Entrepreneurial Event to Neuroentrepreneurship. In Foundational Research in Entrepreneurship Studies (pp. 203-224). Palgrave Macmillan.

See also