10th World Congress on Healthcare & Technologies
Lapland University | Finland
Title: Leadership DNA by game theoretic approach: Finding optimal equilibrium for wellbeing and productivity
Biography: Marko Kesti
Profit unit leader gets information from the scorecards like monthly revenue and profit. Leader will also follow workers working time distribution and maybe notice the employee well-being. Economy and time are usually measured and thus under the focus of controlling. Wellbeing is also one production factor that the leader has created influence. Fundamental leadership problem lies in the difficulty to reliably measure the employee wellbeing and understand its’ connection to work performance. There can be risk for conflicting information when profit reduce and leader thinks it can be improved by increasing time for work. If wellbeing decrease the performance reduces as well which cause more fuss and wasted time, in that case the time for work may increase but the effective working time reduces. Phenomenon seems to be too difficult to understand without practice based learning.
Leadership connection to work wellbeing and business performance is widely studied and the knowledge has increased along the scientific contribution. The paper will present new research findings; so called leadership DNA in game theoretic approach. It combines the economic rules and wellbeing connection to business performance, and also human behavior in game theoretic approach. The introduced Bayesian model will combine conflicting objectives in a learning game where optimal leadership behavior can be trained. Research indicates that learning game will lead to the behavior where competing objectives can be optimized.
Paper will illustrate that organization leadership is a Bayesian Stochastic Strategic Non-symmetric Signalling game. Practical game studies show that leaders can find Nash equilibrium where both employee wellbeing and business economy prosper in long term. To achieve this optimal equilibrium for success there are identified certain management qualities. These qualities are not so easy to acquire in reality but they can be learned through the leadership learning game.
- Kesti, M., Leinonen, J. and Kesti, T. (2017). The Productive Leadership Game: From Theory to Game-Based Learning Supporting Public Entrepreneurship. In Lewandowski, M., Kożuch B. (ed.). Public Sector Entrepreneurship and the Integration of Innovative Business Models, IGI Global.
- Kesti, M., Leinonen, J. and Syväjärvi, A. (2016). A Multidisciplinary Critical Approach to Measure and Analyze Human Capital Productivity. In Russ, M. (ed.). Quantitative Multidisciplinary Approaches in Human Capital and Asset Management (pp 1-317). Hershey, PA: IGI Global. (1-22).
- Kesti, M. & Syväjärvi A. (2012). Human Resource Development Function to both Organizational Performance and Quality of Working Life, Journal of Global Business Review GBR Vol 2 No 1, Global Science and Technology Forum.
- Hu, J. and Wellman, M., P. (1998). Multiagent Reinforcement Learning Theoretical Framework and an Algorithm. Articial Intelligence Laboratory, University of Michigan. USA.
- Smith, J., Q. (2010). Bayesian Decision Analysis: Principles and Practice. Cambridge University Press, New York, USA.