Our decisions are guided by bias. That includes the decision we make when we are working. According to some scientist, there are approximately 200 different types of bias.
A bias is an automatic and unconscious mechanism that gets in your way of making clear decisions. We all have a different levels of bias and they are context-dependent. When dribbling a ball on a basketball court, it may be a kind of bias that affects your decision about where to move.
For managers in sales meetings, you may have a bias that affects your choices and how you develop a strategy. Your decisions are often consciously or unconsciously guided by bias, which can have positive and negative affects on your leadership and those around you. Read more to learn 7 ways you can make better decisions and minimize bias.
In this video, behavioural economist Sally Khallash (PhD) and I speak about how we can make better decisions and minimize bias which influences our ability to reach our greater potential.
According to research by Sally Kallash, excessive self-esteem makes other decisions worse. Sally grouped 200 biases into eight categories, which you will see if you take her test. This bias is also known as the mother-of-all biases because it enhances all the others. An example is when you underestimate how much time something will take.
In the video above, Sally Khallash and I speak about how to evaluate the quality of a decision (3 min 13 sec, in English). We also made a longer version that includes our entire conversation. If you want to hear more about her valuable perspective and how decisions are made in organisations, check out the full-length video where Sally shares some interesting concepts.
We also discuss how group think is a bias that prevents innovation from blooming since many people unconsciously have a bias that will cause disturbances within a group. At the same time, group think is a bias that makes cooperation more enjoyable. We tend to like people who look, act and think more like ourselves.
If you would like to know more about what trigger our brain when we collaborate and lead others, then you can read more in my book, Power Barometer – Manage personal energy not just time and money.
Throughout our conversation, Sally and I develop some advice on 7 ways to make better decisions and minimize bias from a management perspective:
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