Final answer:
False.Contrary to common belief, study of management is not just common sense but filled with insights from extensive research that can be counterintuitive, like value loss aversion and nuances of strengths-based management.
Step-by-step explanation:
The study of management is often mistakenly thought to be just common sense. However, this belief is false. Management science is filled with insights that are counterintuitive and based on extensive research. People regularly make decisions that are influenced by their state of mind or feelings, leading to actions that might contradict traditional consumer theory or seemingly rational choices. For example, the concept of value loss aversion illustrates how people tend to value a dollar lost more than a dollar gained, challenging the traditional view of symmetrical value assessment.
Donald Clifton's strengths-based management research is an example of management theories developed from systematic inquiry rather than common sense. Managers might sometimes overvalue their strengths and overlook their weaknesses, affecting their performance despite the popularity of focusing on individual strengths.
Research in management can produce findings like this that defy our common notions, demonstrating the need for careful study and analysis rather than reliance solely on intuition or common sense. Thus, the study of management being 'just common sense' is indeed a myth and does not reflect the vast body of scholarly research and empirical evidence supporting management theories and practices.