Bad for Business: The Impact of Cognitive Bias in Corporate Decision-making

Bad for Business: The Impact of Cognitive Bias in Corporate Decision-making


October 2019

Psychology Today defines cognitive bias as the tendency to make decisions and act based on limited acquisition and/or processing of information or on self-interest, overconfidence, or attachment to past experience(s). Associatively, terms like denial or rationalization probably pop into your head. Seems innocuous enough. But is it? More and more, the business world is starting to understand the real impact cognitive bias can have on workplace wellness, business trajectory and the bottom line. This session will explore the ways in which these biases affect an executive's business decision-making. Decision-making based on cognitive biases can have a very real and direct impact on real estate, business performance and financial metrics, workplace culture and employee productivity.

Keywords: Problem Solving; Leadership; OrangeCounty2019


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