Decision Making

The Money on the Mind video relates to the thought processes of people with power. The video says rich people, but I said power because we usually associate money with power. As a matter of fact, we often use the words “money”, “rich”, and “power” interchangeably. The video shows how people on the top view other people as lecherous and thus aren’t willing to help others as much those without the same type of power/influence, when in actuality, it is often the person on top who is the more deceitful, conniving, treacherous of the two. The person with power is more likely to feel that it is their hard work and not the contributions of their team that allowed her/him to succeed. The implications of this study can be applied to management. When a person is able to get in a position of power (i.e. management) it is possible that they will feel a sense of entitlement and are more likely to take a majority credit for a project’s success and deflect a project’s failure onto their team. A person in power will also be more willing to conduct themselves in an unethical manner if they feel that they can get away with it. The study can be used as a teaching point for management on what to expect and the managers can be trained on how to combat these traits. Managers need their team to achieve their organizational goals and this can only be done when management fosters a culture that is conducive to meeting those goals.

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