Overcoming Cognitive Biases In Strategic Management And Decision Making
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Author | : Siniksaran, Enis |
Publisher | : IGI Global |
Total Pages | : 309 |
Release | : 2024-02-12 |
Genre | : Business & Economics |
ISBN | : |
The persistent presence of cognitive biases has influenced rational decisions and strategic management since the 1970s. These prejudiced errors in judgment, often systematic and predictable, breach the foundational assumptions of economic theory, leading to dire consequences such as social inequality, financial collapse, and governmental inefficiency. Even the brightest minds are not immune, making it crucial to address these biases head-on. Overcoming Cognitive Biases in Strategic Management and Decision Making unravels the complex tapestry of biases that infiltrate decision-making processes at all levels. From social injustice biases and reasoning errors to action-inaction and social biases, the book confronts the myriad of ways that biases manifest in critical moments. These pose a significant threat to sound decision-making in various fields, impacting professionals ranging from judges and doctors to public officials. The repercussions of unchecked biases are far-reaching, leading to flawed outcomes that echo through society. The urgent need for a strategic response to mitigate these biases and enhance decision-making processes forms the crux of the problem this book seeks to address.
Author | : Daniel Kahneman |
Publisher | : Little, Brown |
Total Pages | : 429 |
Release | : 2021-05-18 |
Genre | : Business & Economics |
ISBN | : 031645138X |
From the Nobel Prize-winning author of Thinking, Fast and Slow and the coauthor of Nudge, a revolutionary exploration of why people make bad judgments and how to make better ones—"a tour de force” (New York Times). Imagine that two doctors in the same city give different diagnoses to identical patients—or that two judges in the same courthouse give markedly different sentences to people who have committed the same crime. Suppose that different interviewers at the same firm make different decisions about indistinguishable job applicants—or that when a company is handling customer complaints, the resolution depends on who happens to answer the phone. Now imagine that the same doctor, the same judge, the same interviewer, or the same customer service agent makes different decisions depending on whether it is morning or afternoon, or Monday rather than Wednesday. These are examples of noise: variability in judgments that should be identical. In Noise, Daniel Kahneman, Olivier Sibony, and Cass R. Sunstein show the detrimental effects of noise in many fields, including medicine, law, economic forecasting, forensic science, bail, child protection, strategy, performance reviews, and personnel selection. Wherever there is judgment, there is noise. Yet, most of the time, individuals and organizations alike are unaware of it. They neglect noise. With a few simple remedies, people can reduce both noise and bias, and so make far better decisions. Packed with original ideas, and offering the same kinds of research-based insights that made Thinking, Fast and Slow and Nudge groundbreaking New York Times bestsellers, Noise explains how and why humans are so susceptible to noise in judgment—and what we can do about it.
Author | : Andreas Michael Schühly |
Publisher | : Springer Nature |
Total Pages | : 391 |
Release | : 2022-01-01 |
Genre | : Business & Economics |
ISBN | : 3030866602 |
This unique book is positioned at the crossroads of strategic management and international business. Based on an in-depth literature review, the author empirically assesses the widely shared, implicit assumption that strategic management processes can be globally applied in a standardized, i.e., culture-free, manner. So far, a variety of tools have also been recommended but without incorporating cultural differences. As many organizations observe that this ethnocentric view is more an illusion than reality, strategic management research has started to focus on the cultural sensitivity of its theories, tools, and processes to provide practitioners in a multicultural setting with adequate know-how and tools. To foster long-term decision-making despite uncertainty, scenario planning is frequently applied by practitioners. Up until today, scenario planning has however gained little attention from the academic community. Through this book, the author presents a newly developed framework for strategic management that combines the cultural value scale to test the cultural sensitivity of the long-term planning tool called “scenario planning.” The different process steps of scenario planning have been individually examined for their sensitivity toward the cultural dimensions of uncertainty avoidance and long-term orientation. The investigation is based on a unique, global set of management consultants working for a leading professional service firm. The results of this research show the cultural sensitivity of scenario planning, with different degrees of the process steps and the tested cultural dimensions.
Author | : Haridimos Tsoukas |
Publisher | : John Wiley & Sons |
Total Pages | : 240 |
Release | : 2009-02-09 |
Genre | : Business & Economics |
ISBN | : 1405142391 |
In this book, leading authors explore ways in which organizationscan develop their ability to manage the future. An exploration of the ways in which organizations can developtheir ability to manage the future. Consists of ten papers written by authors from both sides ofthe Atlantic and from Asia, all of whom are distinguished scholarsin the fields of strategy or organizational learning. Addresses key questions about how organizational foresight canbe conceptualized and developed, and the extent to which it ispossible. The papers are prefaced by a foreword from Spyros Makridakisand an introduction from the editors. Helps to shape a new research agenda, and so will be ofinterest to academics, as well as to students andpractitioners.
Author | : Geoffrey Ellis |
Publisher | : Springer |
Total Pages | : 185 |
Release | : 2018-09-27 |
Genre | : Computers |
ISBN | : 3319958313 |
This book brings together the latest research in this new and exciting area of visualization, looking at classifying and modelling cognitive biases, together with user studies which reveal their undesirable impact on human judgement, and demonstrating how visual analytic techniques can provide effective support for mitigating key biases. A comprehensive coverage of this very relevant topic is provided though this collection of extended papers from the successful DECISIVe workshop at IEEE VIS, together with an introduction to cognitive biases and an invited chapter from a leading expert in intelligence analysis. Cognitive Biases in Visualizations will be of interest to a wide audience from those studying cognitive biases to visualization designers and practitioners. It offers a choice of research frameworks, help with the design of user studies, and proposals for the effective measurement of biases. The impact of human visualization literacy, competence and human cognition on cognitive biases are also examined, as well as the notion of system-induced biases. The well referenced chapters provide an excellent starting point for gaining an awareness of the detrimental effect that some cognitive biases can have on users’ decision-making. Human behavior is complex and we are only just starting to unravel the processes involved and investigate ways in which the computer can assist, however the final section supports the prospect that visual analytics, in particular, can counter some of the more common cognitive errors, which have been proven to be so costly.
Author | : Gideon Keren |
Publisher | : John Wiley & Sons |
Total Pages | : 1056 |
Release | : 2016-02-16 |
Genre | : Psychology |
ISBN | : 1118468392 |
A comprehensive, up-to-date examination of the most important theory, concepts, methodological approaches, and applications in the burgeoning field of judgment and decision making (JDM) Emphasizes the growth of JDM applications with chapters devoted to medical decision making, decision making and the law, consumer behavior, and more Addresses controversial topics from multiple perspectives – such as choice from description versus choice from experience – and contrasts between empirical methodologies employed in behavioral economics and psychology Brings together a multi-disciplinary group of contributors from across the social sciences, including psychology, economics, marketing, finance, public policy, sociology, and philosophy 2 Volumes
Author | : Vázquez de Príncipe, Joanne |
Publisher | : IGI Global |
Total Pages | : 623 |
Release | : 2024-05-07 |
Genre | : Business & Economics |
ISBN | : |
In today's volatile, uncertain, complex, and ambiguous (VUCA) world, the challenges faced by individuals, teams, and organizations are more pressing than ever. The persistent global tragedies and instabilities demand a new approach to leadership—one that goes beyond traditional models to address the complexities of a multicultural and multigenerational workforce. The need for resilience has never been more urgent as we grapple with the aftermath of a pandemic and the ever-evolving landscape of work. The book titled Resilience of Multicultural and Multigenerational Leadership and Workplace Experience dives deep into the heart of the issue, highlighting the importance of cultivating resilience as a dynamic ability. It serves as a call to action for individuals and leaders to fortify their resilience, transforming it from a mere survival mechanism into a strategic advantage that propels individuals and organizations towards success. The core objective of Resilience of Multicultural and Multigenerational Leadership and Workplace Experience is to offer various solutions to the challenges posed by the contemporary business environment. Grounded in both theoretical and empirical research, the book aims to provide a guide for scholars and professionals navigating the complexities of leadership in a multicultural context. By delving into the strategic role of resilient leadership across various organizational levels, the book equips its readers with the tools and insights needed to not only face these challenges but emerge stronger.
Author | : Jhanjhi, Noor Zaman |
Publisher | : IGI Global |
Total Pages | : 546 |
Release | : 2024-09-12 |
Genre | : Computers |
ISBN | : |
As cyber threats become increasingly sophisticated, the need for innovative defense strategies becomes urgent. Generative artificial intelligence (AI) offers a revolutionary approach to enhance cybersecurity. By utilizing advanced algorithms, data analysis, and machine learning, generative AI can simulate complex attack scenarios, identify vulnerabilities, and develop proactive defense mechanisms while adapting to modern-day cyber-attacks. AI strengthens current organizational security while offering quick, effective responses to emerging threats. Decisive strategies are needed to integrate generative AI into businesses defense strategies and protect organizations from attacks, secure digital data, and ensure safe business processes. Utilizing Generative AI for Cyber Defense Strategies explores the utilization of generative AI tools in organizational cyber security and defense. Strategies for effective threat detection and mitigation are presented, with an emphasis on deep learning, artificial intelligence, and Internet of Things (IoT) technology. This book covers topics such as cyber security, threat intelligence, and behavior analysis, and is a useful resource for computer engineers, security professionals, business owners, government officials, data analysts, academicians, scientists, and researchers.
Author | : Reddy, K. Jayasankara |
Publisher | : IGI Global |
Total Pages | : 349 |
Release | : 2024-06-17 |
Genre | : Business & Economics |
ISBN | : |
In a world characterized by constant changes, organizations grapple with the complex task of understanding and enhancing human behavior within their ranks. The burgeoning interest in cognitive behavioral neuroscience (CBN) for unraveling the intricacies of organizational dynamics has paved the way for a groundbreaking shift. However, the application of CBN in Human Resource Development and Management (HRDM) remains in its infancy, creating a void between scientific inquiry and practical implementation. As organizations yearn for evidence-based strategies to enhance talent identification, team selection, training, and overall performance, a critical need emerges for a comprehensive guide that bridges this gap. Cognitive Behavioral Neuroscience in Organizational Settings is a groundbreaking book that illuminates the unexplored territory of CBN in HRDM. Positioned as a catalyst for change, this comprehensive guide serves as the linchpin connecting theoretical foundations with real-world applications. Seamlessly navigating through the basics of neuroscience, the anatomy and functions of the brain, and the role of neuroscience in organizational behavior, establishes the groundwork for a new academic discipline. By delving into higher cognitive processes, artificial intelligence integration, neuroscience methods, and CBN-based interventions, the book offers a roadmap to revolutionize how organizations understand, manage, and enhance their human capital.
Author | : Baruch Fischhoff |
Publisher | : Routledge |
Total Pages | : 405 |
Release | : 2013-06-17 |
Genre | : Science |
ISBN | : 1136497331 |
Behavioral decision research offers a distinctive approach to understanding and improving decision making. It combines theory and method from multiple disciples (psychology, economics, statistics, decision theory, management science). It employs both empirical methods, to study how decisions are actually made, and analytical ones, to study how decisions should be made and how consequential imperfections are. This book brings together key publications, selected to represent the major topics and approaches used in the field. Put in one place, with integrating commentary, it shows the common elements in a research program that represents the scope of the field, while offering depth in each. Together, they provide a vision for what has become a burgeoning field.