Common biases in decision making
In general there are three general heuristics namely availability, representative and confirmation heuristics. They encompass eleven specific biases.
Author: mudu.io
Cognitive bias
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…
The journey to authentic leadership
Development as a leader is not a straight line but a journey filled with many ups and downs as you progress to peak leadership.
What causes leaders to lose their way?
If motivations to lead are only power, prestige, and money, leaders risk being trapped by external gratification as the source of fulfilment.
5 derailed leaders archetypes
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…
Transformation from “I” to “We”
Leaders can unleash the power of their organisations when they motivate people to reach their full potential.
Self-awareness and self-acceptance
Self-awareness is the first element of emotional intelligence. EQ may be more important for authentic leaders than IQ.
Values, leadership principles and ethical boundaries
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.
What motivates you to be a leader?
The key to developing as an authentic leader is not eschewing your extrinsic motivations but balancing them with intrinsic motivations.
Multiple selves theory
Decision making is a cognitive process. Humans make errors because of motivational and emotional influences. Learn more about multiple selves here.
Hyperbolic discounting definition
Economic concept of discounting states that any choice that involves a trade off between current and future benefits should discount the future.
Self-interest bias definition
Perceptions and expectations are biased in self-serving manner. When presented with identical information, we perceive situation in different ways.
How emotions affect decision making?
Specific emotions influence our decision making. This is an effect of positive and negative moods. Good or bad mood results in more biased judgements.
Three main types of overconfidence
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,…
Emotionally drained relationship
These relationships can be very destructive. They slowly drain off our energy, frustrate us, and generally make for an unhealthy negative environment.
Healthy relationships
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.
How to build a better relationship?
Several skills are involved in building relationships that are satisfying and nurturing. You must be prepared to make some effort to keep them going.
Reasons for new product failure
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.
Organisational structures and cross-functional teams
The use of cross-functional teams increases creativity in a new product development, leading to shorter development time and higher product innovation.
New product launch
Most new products are improvements or minor line extensions and may attract almost no attention. Other products will receive extensive coverage.
Product prototype
The item acquires a finite form and becomes a tangible good. Product designers may develop similar prototypes with different styles.
Screening of business opportunities
Screening product ideas is, essentially, an evaluation process. It occurs at every stage of the new product development process.
Product concept
Transforming a list of ideas into product concepts. For a product idea to become a new product concept, these are required: form, technology, need.
Recognising opportunities and generating ideas
It is the process of collecting possible business opportunities that could, realistically, be developed by the business into successful products.
New product development management
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.
Personal relationship: healthy and ineffective
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.
Types of personal relationship
Four basic types are: intellectual, emotional, sexual and physical. In some relationships, we have all of these types, in others – one or two types.
Stress and relationships
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.
How to build healthy personal relationships?
Knowing how to build and maintain a healthy relationship is a key ingredient in successful transitions. Consider the following guidelines in this post.
Healthy relationship rules
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.