Question 1 We are more likely to recall and others are more likely to provide negative information as the facts and emotions associated with them are more salient than those associated with positive information. Therefore, it is necessary to actively seek positive information about our targets. In a typical work setting, this may be done by writing down positive things that occur throughout the year (for a year-end review, for example), but in this setting it will be necessary to try to disconfirm some of the negative stories you are hearing about the firms by actively seeking out positive information. This could be through (arguably) more objective sources like newspapers and trade publications. For example, any rankings that are published may contain quantitative data use to derive the rankings. This data could be used to formulate more unbiased opinions about the firms. Further, as a manager, we may only be able to recall information that fits within the schemas we’ve developed from past information. For example, we may have come to have certain biases or stereotypes about South and Central American countries, and may use these biases to sift through the facts presented to us to determine what is important or unimportant. This could cause our recall of actually important facts to be less forthcoming than our recall of what we believe are important facts, causing our decision to be less optimal. There also may be this network effect, whereby you are asking mostly
All through history, especially the past two hundred years, different theories have tried to determine our existence and they continually have changed depending on the group creating it or researching it. The one thing that has changed is the Holy Bible, God’s written word with our complete history in it. Reading it we come to understand our existence and purpose. With that we also become aware of our gift we receive from God and that is freewill, and with freewill it gives us the option to choose what we want to believe in. Although through history there have been many individuals who have made discoveries in science which has pushed the boundaries of human thought, reasoning, and belief about the big question, “How did humans come into existence?” No matter what different theories have been made through the centuries the truth still remains the same, we were created by God in His image to go and spread the gospel. The more we attempt to spread the gospel, the more resistance and push back we get from non-believers. With the different groups, the biggest resistance we have gotten is from the followers and believers of theorist Charles Darwin and his work with the theory of evolution.
In terms of the anchoring bias, regularly revisit of the original decision based on the newly gathered data needs to be set up within the organization. Additionally, the decision maker should avoid the Confirmation Trap in which Bazerman and Moore (2009) argues that people tend to seek information that confirms their expectations and hypotheses. To recognize the bias, Mike Francis could
Two phenomena- hindsight bias and judgmental overconfidence- illustrate why we can’t rely solely on intuition and common sense.
Not too long ago I believed that more information led to better decisions. Now I believe that too much information can be a disadvantage.
Over 350 million people suffer from depression worldwide. It’s Kind of a Funny Story, written by Ned Vizzini, is a realistic fiction novel about a high schooler named Craig Gilner who struggles with depression and suicidal thoughts. This story was a great read and for multiple reasons. Vizzini does a great job of making Craig, the protagonist, a very interesting character, and the novel itself is very relatable to anyone who is/was a student. Craig has many intriguing qualities that are hard to ignore.
In the previous section we determined the impact of management information on decision making process within an organisation. One of the Critical Success Factors (CSF) that enables effective decision making is “Information sharing”. This allows managers to take the right decision at the right time.
We have all heard of strange and gory stories that are supposedly true, experienced by a friend of a friend. Whether true or not these so called "urban legends" tend to circulate throughout society thriving on each individual's fears and curiosity. What most people don't realize is, within these tales lies the attitudes and values of a community. These tales do not survive throughout the years solely on the basis of their entertainment level, but due to the fact that they reflect society's fears and anxieties. In dissecting these tales one can indefinitely find the social fallacy against females that has existed for decades, as well as the fears women have against men. However, more importantly, the values that society hold are
Furthermore, understanding how to deal with these biases is the key to making a good decision. Also, it is important not to make judgmental heuristics which are shortcuts used to reach a decision faster (Moisand, 2000). Another key takeaway is to use evidence-based decision making when making an important decision. Managers should use this concept to ensure they are gathering the best available evidence before making their decision. The leaders of BP and Transamerica certainly did not use evidence-based decision making nor did they follow the evidence-based decision-making model. If the leaders of these two companies followed the evidence-based decision-making model, they would start with identifying the problem and end with making the decision (Kreitner & Kinicki, 2013).
“A Single Story” could lead most of the people to dangerous consequences which limit their perspectives, thereby creating stereotypes to others and analyzing the problems wrong. Therefore, it’s important to have multiple views and stories about everything. As we live in a society that is full of diverse information, there are many ways to make much easier to get a variety of stories and most of the events that are happening now in the world than a hundred years ago, such as social media, newspaper, television. People could put their own ideas online to show others and others also could absorb various perspectives. This highly improves most of the people in avoiding having a single
Story telling is a uniquely human attribute. It is an imaginative process between the composer and responder that invites us, as the audience to engage vicariously with the experience of others. Stories or narratives have been shared in all culture as a mean of education, entertainment and also to notify the audience of the values and belief systems of our culture. The texts of ‘Through the tunnel’ and ‘Green tomatoes at the Whistlestop Cafe’ conspicuously highlight the ability of storytelling to empower the individual and outline storytelling as a device to inform us of values and people’s transmission is able to transcend time.
The third reason why good-to-great companies outperform, is they do not cover up the bad news (confront the brutal facts). Nobody likes to hear the bad news, but we have to facing it and take reaction about it. Furthermore all good to great
Unlike other similar concepts such overconfidence bias or anchoring, confirmation biases impact how people gather information, but they also influence how people interpret and recall information. For example, people who support or oppose a particular issue will not only seek information that supports their beliefs, they will also interpret news stories in a way that upholds their existing ideas and remember things in a way that also reinforces these attitudes.
I could not believe my eyes. I rubbed them over and over again, hoping that somehow reality fooled me. The only noise that I could hear was the continuous beat of my heart; thump, thump, thump, thump. It was as if my brain short-circuited and needed to be rebooted. With sweat running down my face, I gathered my courage and looked into the mirror. It has been months since I had the guts to glance at my reflection, and I was shocked. I did not expect to see such an oversized woman staring back at me. I closed my eyes at the horrifying figure and looked down to see the scale one more time. One hundred and fifty four pounds. From that moment on, I knew that things will never be the same
On a cold fall evening in the town of Dankfurt, Alaska with a small population of 73. There was a boy named Derek. Derek was just an ordinary boy who attended the school of Winterfield which was 10 miles away. He did this because his town had no school along with two other friends. Every morning he and his friends would wake up at five-thirty to walk to school. Because of the Alaskan time zones it was dark during the day and light at night.
As individuals, we make decisions throughout the day weighing the cause and effect, cost and benefit, risk and impact of our actions on ourselves and upon others. When taken to a larger scale, as the manager of a team, the CEO of a corporation, or the leader of a nation, the decisions exponentially increase in impact and importance.