Milton Campbell
Engaging with others effectively requires an understanding of how our minds work. This article throws light on one significant cognitive distortion, self-serving bias. Exploring its occurrence, manifestations, and practical examples, we aim to empower you with the tools to recognize and manage this ubiquitous bias. This guide offers practical insights to understand how self-serving bias … Read more
There’s a fascinating psychological phenomenon called the Dunning-Kruger Effect. It’s about when David at the karaoke bar thinks he sounds like Elvis or Aunt Sally spends hours detailing her sure-fire ideas for defeating climate change. We all know a David or Aunt Sally, bless their hearts, who are joyfully unaware of their incompetence. The Dunning-Kruger … Read more
If you’re a business leader, you know that making informed decisions is key to success. One powerful tool you can use is the BCG growth-share matrix model. This matrix, also known as the growth matrix or the share matrix, helps businesses assess their product portfolio and decide where to focus their resources and capital. In … Read more
The framing effect is a cognitive bias that deeply impacts our decision-making processes. It refers to the way people’s perceptions and decisions can be significantly influenced by how information is presented or “framed”. These frames can take the form of different wordings, settings, or contexts that can alter the substance of what is being communicated … Read more
Hindsight bias, often referred to as the ‘knew-it-all-along’ phenomenon, is the inclination to see events that have already occurred as being more predictable than they were before they took place. Simply put, we tend to believe that we “knew it all along” once the outcome is known. This can undervalue the unpredictability of certain situations … Read more
The human brain, an intricate web of neurons and synapses, is a remarkable cognitive powerhouse that enables us to reason, remember, and make decisions. Among the many phenomenons in cognitive science, two concepts stand out, both acting as remarkable vehicles of understanding how our memory and decision-making work, the Recency Effect and the Primacy Effect. … Read more
Let’s explore the often-misunderstood concept of the ‘contrast effect’, its implications, and how it affects our daily perceptions. You’ll understand not just the basics, but the wide-ranging applications of this effect, especially in recruitment and decision-making processes. We’ll also explore ways to address, harness, and mitigate this behavior. In today’s world where every decision counts, … Read more
Are you part of a group that consistently makes suboptimal decisions? Are you aware of the symptoms of groupthink and how to combat them? In this article, we will explore the concept of groupthink and how it affects our decision-making abilities. Understanding the phenomenon of groupthink is essential to make better decisions, whether you are … Read more
Whether you’re a start-up or a seasoned entrepreneur, the purpose statement of your company is a critical landmark on your roadmap to success. An effective purpose statement serves as a compass, pointing the company in the right direction and guiding its growth and development. Stick around to discover the ins and outs of creating a … Read more
Anchor bias, also known as anchoring bias, is a cognitive bias that affects our decision-making process. It describes our human tendency to rely heavily on the first piece of information we encounter (the ‘anchor’) when making decisions. Whether we’re aware of it or not, the initial information we come across sets a mental precedent that … Read more
