With multiple perspectives, you can always gain insight and empathy to see things from the other angle and make better decisions.
Cognitive Biases: Cognitive biases are systematic errors in thinking that can affect how people perceive reality and make decisions. These biases often operate unconsciously, leading to irrational decisions despite a person's belief that they are acting rationally. Examples of cognitive biases include:
-Confirmation bias: The tendency to favor information that confirms existing beliefs.
Anchoring: Over-relying on the first piece of information received when making decisions.
-Halo effect: Allowing a single positive trait to influence the overall perception of a person or thing.
-Organizational Factors: Organizations perhaps also create an illusion of choice through various mechanisms:
-Filtering information: Organizations emphasize certain facts while filtering out others, influencing the premises on which decisions are made.
-Creating routines: Standard operating procedures and routines can limit the range of action, making only one alternative appear rational.
-Groupthink: The desire for harmony in a group can lead to an illusion of unanimity and discourage dissenting opinions.
Bounded Rationality: Individuals often make decisions based on imperfect information and without evaluating all possible alternatives. People choose the first satisfactory option rather than the optimal one, leading to many rational conclusions depending on available information and the decision-maker's perspective.
Coping with Complexity: In complex organizations, leaders may find it impossible to create complete plans of action due to rapidly changing environments and complicated technologies. In such cases, individuals may resort to repeating past actions and routines, which can become disconnected from the actual requirements of the job and create organizational inertia.
Effective decision making needs to blend both information and intuition; methodology and practice. With multiple perspectives, you can always gain insight and empathy to see things from the other angle and make better decisions.
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