Bad for Business: The Impact of Cognitive Bias in Corporate Decision-making Monday, 21 October 2019 from 11:00 AM – 12:00 PM
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.
- Understand the what and why associated with cognitive bias so they can be more aware and recognize it in the future.
- Gain practical tactics to incorporate into business process to ensure cognitive bias is identified and properly resolved.
- Gain insights into some of the broader business questions associated with cognitive bias including Is cognitive bias an issue in my workplace? Is there a way to eliminate it completely? Is groupthink an issue among my company’s decision-makers?
Leadership & Management, Problem Solving, Workplace
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