Behavioural Economics in Sales Management: Counteracting biases to grow profits
This famous quote from Charlie Munger gets straight to the point regarding the behaviour of individuals (and companies) and as Vice Chairman of the hugely successful investment firm Berkshire Hathaway Inc., he certainly understands how this links to long-term financial gain. Nowhere do incentives play a bigger role than in the steering of a sales force; with their successes and failures impacting heavily upon earnings. Given their importance, how can [...]