Effective Factors in Behavioral Economies and Organizational Management-based on the Knowledge Management Context

Abstract

© 2020 IEEE. Due to the improvement of people's living standards, consumption is becoming more and more non-material and sensible. Humanity has become the main theme of this era. Emotional problems are increasingly concerned with people in the theoretical and business circles. The arrival of the "emotional economy" triggered a revolution in management. In view of the business world, people find it important to build a successful business in order to gain a deep understanding of human behavior aiming at fully understanding financial statements and management operations. The importance of economics to the development of enterprises cannot be exaggerated. Significantly, the unique theory structure of combining psychology and economics in behavioral economics has stirred attention in the world due to its guiding role in management activities. However, understanding human behavior has been a tall order especially when it comes to financial statements and management operations in order to build a successful business. Thus, it is important for enterprises to develop how to better understand behavioral economics and organizational management in their organizations. Therefore, the aim of this study was to identify the key factors that influence behavioral economics and organizational management in the organization. This paper, therefore, presents the key concepts captured in a knowledge management context based on behavioral economics and organizational management concepts. Moreover, these key factors will contribute on how to develop knowledge transfer process in a case study. This knowledge transfer processes will later be used to help the organization's employee to better understand and improve their performance.