Many managers’ decisions are guided by bias. There are approximately 200 different types of bias. A bias is actually a mistaken decision. It 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 bia 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 minimise bias.
Behavioural economist Sally Khallash (PhD) and I speak about how we can make better decisions and minimise bias which influences our ability to reach our greater potential.
According to research by Sally, 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.
Throughout our conversation, Sally and I develop some advice on 7 ways to make better decisions and minimise bias from a management perspective:
I give lectures, coach, counsel and teach. My vision is that organisations create long-term value, that all leaders have a clear mind and that you wake up every morning energised. Read more about me here.
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