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How to become an effective – bias‐free – decision‐maker in an increasingly global economy

How to become an effective – bias‐free – decision‐maker in an increasingly global economy Purpose – To make strategists aware of decision biases and their potential impact on effective strategic decision‐making. Design/methodology/approach – A review of five critical biases, their sources and impact. The article includes a self‐test. Findings – Suggestions on how the strategist can address biases in self and others as part of strategic leadership. Research limitations/implications – Conceptual review and self‐test. Practical implications – Simple, easy to implement guidance on managing biases in self and others. Originality/value – Raising strategists’ awareness of biases and their potential impact. Self‐test on decision biases. A route to the literature on the issues. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Handbook of Business Strategy Emerald Publishing

How to become an effective – bias‐free – decision‐maker in an increasingly global economy

Philip A. Wickham
Handbook of Business Strategy , Volume 7 (1): 6 – Jan 1, 2006
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Publisher
Emerald Publishing
Copyright
Copyright © 2006 Emerald Group Publishing Limited. All rights reserved.
ISSN
1077-5730
DOI
10.1108/10775730610618620
Publisher site
See Article on Publisher Site

Abstract

Purpose – To make strategists aware of decision biases and their potential impact on effective strategic decision‐making. Design/methodology/approach – A review of five critical biases, their sources and impact. The article includes a self‐test. Findings – Suggestions on how the strategist can address biases in self and others as part of strategic leadership. Research limitations/implications – Conceptual review and self‐test. Practical implications – Simple, easy to implement guidance on managing biases in self and others. Originality/value – Raising strategists’ awareness of biases and their potential impact. Self‐test on decision biases. A route to the literature on the issues.

Journal

Handbook of Business Strategy – Emerald Publishing

Published: Jan 1, 2006

Keywords: Decision making; Bias; Corporate strategy

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