How To Avoid Making Biased Decisions
Managers make decisions every day, sometimes well, sometimes badly. Often the root cause of a bad decision lies in the use of either intentional or unintentional bias.
Consider the points below and analyse the decisions that did not go to plan – what does this tell you about your decision-making style?
- The Illusion of Control; resulting from the tendency to overestimate one’s ability to control activities and events.
- Escalating Commitment; bias which leads to increased commitment to a previous decision despite evidence that it may have been wrong.
- Emotional Attachment; frequently influenced by emotional attachment to family and friends, communities and colleagues and things and places which have meaning for us.
- Poor Hypothesis; results from a tendency to base decisions on strong prior beliefs, even if the evidence shows that they are wrong.
- Representativeness; results from a tendency to generalise inappropriately from a small sample or a single vivid event.
- Optimism; the human tendency to see the future in a more positive light than is warranted by experience.
Have a long, hard look and see if at least two or more are your Achilles’ heel!
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