From the quiz that we were given in class we were introduced to certain biases that lead us to forming decisions. The first two questions I got right. I’m not saying I understood the bias behind that questions as I read them but I saw the five companies I knew and thought I know them all but none from the other group so I figured it was to trick us and I picked the ones I didn’t know. As with question 2 I went at it the same way. The information fit a stereotype very closely so I went with the opposite answer. Then problem 3 came and I fell into the ease of recall bias without even thinking about it. In problem 4 as we can’t 100% determine the correct answer to the # of words it’s obvious that there can’t be less words in 4b than 4a.
Anyway I found it interesting how tough it is to make decisions without bias. It’s like society hands us the wrong tools for life. Between stereotypes, recall, past experiences, and accessibility it’s easy to see how these can get in the way of making correct decisions or jumping to the “easiest” answer based on the things I mentioned. The real test of leadership and decision making I guess is to how well you can eliminate these biases and come to the straight, rational, correct answer. Sticking to probabilities, means, and avoiding conjunction fallacies all help to come to these rational decisions. Knowledge is key: knowing of these biases helps you to avoid them or at least keep an eye out for them.
As I’m sure the biases that are instilled in us help in some ways throughout our lives I feel we should be weary of them in the business world.
I have to agree with you about being cautious of our biases when in the business world. Goin back to your leadership comment it is up to a leader to decide what to do. When he/she has time to come to a conclusion it might be smart for him/her to ask his subordinates what they think. Everyone's biases are a little different so hearing a few different responses the leader can come to conclusion. In certain situations where time is a factor it is up to the leader to come up with the best logical solution and sometimes biases are right and allow a leader to respond with speed a accuracy.
ReplyDeleteYou're right, you have to put your biases aside and answer the questions without thinking too much. After doing this, I was able to answer most of the questions right. It proves how you can't always just make assumptions.
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