Is cognitive bias affecting your business decisions?

8 mins

By Mark Davis, June 20,2022

Key learnings
  • To overcome the biases of Anchoring and Availability, always try to imagine two alternatives to the decision you are ready to make.
  • When confronted with the Escalation of Commitment, remind yourself that you will not be defined by your failures.
  • Mitigate Confirmation Bias by actively seeking out opinions that differ from your own.
  • Self-Serving Bias can be treated over time by being humble in success and listing outside factors that contributed to it. Following failures, ask what you, personally, could have done differently.
  • If you feel you’re being influenced by Regret Bias, establish rules and a set of boundaries for your decisions.

ABOUT THE AUTHOR
Mark Davis
Mark worked for 12 years in broadcast journalism before making the switch to business audiences. A Qontoer since 2021, his focus is on writing copy that speaks frankly and directly to customers.
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