Abstract
Changes in organizational behavior, decision-making processes, human thinking and action are the subject of an exploration of the increasingly popular behavioral economy. We assume that her knowledge gained from various economic or psychological experiments in recent decades can help managers understand the specifics of human behavior and action. The Covid crisis and the pitfalls it brings pose new challenges for managers. Knowledge of behavioral economics and descriptive approaches to decision making allows us to understand how people act in real conditions. This knowledge can help managers streamline management and become better leaders. The paper deals with the benefits of behavioral economics for managers in the process of “reopening” the economy and its main goal is to highlight the knowledge and solutions of behavioral economics, usable for postpandemic management. To meet the goal, it is necessary to describe the changes and new specifics of the environment affected by the pandemic crisis in the first, theoretical part of the work. After analyzing these changes and evaluating them, we look for the answers offered by behavioral economics in the final part of the paper. Based on the empirically obtained knowledge of mainly foreign authors, we present several examples of their practical application in the newly created management environment.
Highlights
The COVID-19 pandemic has brought many changes
We present to managers selected findings of behavioral science, which we consider useful in their response to possible changes in organizational behavior that COVID-19 may have induced
We believe that this gap will gradually begin to fill and the key importance of behavior in the postpandemic world will encourage many Slovak experts to contribute to scientific work in the field of behavioral economics
Summary
The COVID-19 pandemic has brought many changes. The personal and professional lives of most people on Earth have begun to transform dramatically. The oftenly involuntary transition to "homeoffice" brought about by the pandemic was the biggest shock to many organizations. If they did not want to forcibly suspend or terminate their activities, they had to reconsider their organizational habits and adapt them to the new conditions. The more companies relied on technology to move to distance forms of work, the more they would have to rely on their people to return to some of the original patterns of work organization. The same employees may be physically returning to workplaces, but each of them has experienced the consequences of the pandemic spread of a dangerous virus in the past In terms of their behavior, significant changes could have occurred. It is the manager's job to be able to respond to these changes
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