In general there are three general heuristics namely availability, representative and confirmation heuristics. They encompass eleven specific biases.
Economists claim individuals are rational decision makers. They collect a lot of information, examine all alternatives and make decisions that maximise personal satisfaction. However, we do not make decisions in…
Development as a leader is not a straight line but a journey filled with many ups and downs as you progress to peak leadership.
If motivations to lead are only power, prestige, and money, leaders risk being trapped by external gratification as the source of fulfilment.
The five types are: Imposters, who lack self-awareness and self-esteem; Rationalisers, who deviate from their values; Glory seekers, who are motivated by seeking the world’s acclaim; Loners, who fail to…
Leaders can unleash the power of their organisations when they motivate people to reach their full potential.
Self-awareness is the first element of emotional intelligence. EQ may be more important for authentic leaders than IQ.
It is easy to get pulled off course. By knowing our ethical boundaries and testing values under pressure, we are able to get back on track.
The key to developing as an authentic leader is not eschewing your extrinsic motivations but balancing them with intrinsic motivations.
Decision making is a cognitive process. Humans make errors because of motivational and emotional influences. Learn more about multiple selves here.
Economic concept of discounting states that any choice that involves a trade off between current and future benefits should discount the future.
Perceptions and expectations are biased in self-serving manner. When presented with identical information, we perceive situation in different ways.
Specific emotions influence our decision making. This is an effect of positive and negative moods. Good or bad mood results in more biased judgements.
Overconfidence effects are some of the most potent, pervasive and pernicious of any biases. It is blamed for wars, stock market bubbles, strikes, lawsuits, bankruptcy, failure of merges and acquisitions,…
These relationships can be very destructive. They slowly drain off our energy, frustrate us, and generally make for an unhealthy negative environment.
They contribute to your overall well-being and sense of feeling valued. Here, people genuinely like and admire many of the qualities the other has.
Several skills are involved in building relationships that are satisfying and nurturing. You must be prepared to make some effort to keep them going.
The failure of a product idea to be developed into a product is not necessarily a bad thing. It may save the company enormous sums of money.
The use of cross-functional teams increases creativity in a new product development, leading to shorter development time and higher product innovation.
Most new products are improvements or minor line extensions and may attract almost no attention. Other products will receive extensive coverage.
The item acquires a finite form and becomes a tangible good. Product designers may develop similar prototypes with different styles.
Screening product ideas is, essentially, an evaluation process. It occurs at every stage of the new product development process.
Transforming a list of ideas into product concepts. For a product idea to become a new product concept, these are required: form, technology, need.
It is the process of collecting possible business opportunities that could, realistically, be developed by the business into successful products.
Well-functioning global NPD teams become a critical capability by which firms can leverage much more diverse set of perspectives for the global NPD effort.
The closest personal relationships are necessary for our health and spirit. We need to know we are cared for and we need to care for someone.
Four basic types are: intellectual, emotional, sexual and physical. In some relationships, we have all of these types, in others – one or two types.
The body experiences stress from both positive and negative life events much the same way. Stress may make you drowsy, angry, euphoric or physically ill.
Knowing how to build and maintain a healthy relationship is a key ingredient in successful transitions. Consider the following guidelines in this post.
So that your relationships grow and mature, take a look at a few basic relationship rules that will keep you going in the right direction.