Minimizing Biases and Increase Objective Decision Making PDF

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Running Head: MINIMIZING BIASES AND INCREASING OBJECTIVE DECISION MAKING

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MINIMIZING BIASES AND INCREASING OBJECTIVE DECISION MAKING

Minimizing Bias and Increasing Objective Decision Making Introduction All types of organizations face biases and challenges with objective decision-making methods. Biases are incorporated in varying backgrounds, thoughts, assumptions, and actions that are associated with people. It is vital to understand how biases works and what role bias can play as well as how bias can affect companies and change management processes within the company. Biases can be defined as being prejudice, or as being in favor of one individual over another, or how one feels or displays prejudice behaviors and actions towards something or someone. Biases have three different concepts. Those concepts consist of perception biases, solution or selection biases, and problem-solving biases. Regarding the perception biases, this can include overconfidence, deterministic fallacies the halo effect, ludic fallacy, or the zero-risk bias. Concepts of the problem-solving biases are egocentric, or the ‘is-right fallacy’, narrative, hyperbolic, and availability confirmation. The problem-solving biases include action bias, institutional, sunk-cost bias, as well as the planning fallacy. This paper will discuss three different biases while providing solutions on how each bias can become less minimized. Action-Oriented Bias Action-oriented bias is the bias in which individuals feel that must be compelled to take action or feel that they are pressured to take action. There are benefits and negative concepts regarding the action-oriented bias. Some benefits mean that the individual is confident, optimistic, and are more risk-tolerant than most (Rudolph & Morrison & Carroll, 2005). However, some downfalls of this type of bias is taking action too quickly while only taking in certain options and leaving other options out. Sometimes this will give an appearance of being

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‘action’ oriented. Some ways that action-oriented biases can be diminished in critical thinking or decision-making is via exercising good impulse control (Rudolph & Morrison & Carroll, 2005). This will enable the person to develop the abilities to think before they act, become more deliberate, and being able to survey the situation apart from what their impulses are telling them. The negative consequences of being action-oriented is becoming overactive, impatient, and leaping out before they look at the situation. However, those with effective impulse control by contrast, can develop the capacities to think first as opposed to responding reflexively to the situation or too quickly making decisions (Rudolph & Morrison & Carroll, 2005). Confirmation Bias Those who have developed a confirmation bias regarding their decision-making skills are implications of rational, logical, and impartial ways and these concepts relates to how the results were prior to the objective analysis that is readily available in the present time (Howard, 2019). Meaning, the beliefs one has is based on paying attention to the sorts of information that upholds them while regard the information that challenges them. A confirmation bias involves favoring some information that confirms prior existence information as opposed to taking in the understanding of something new. This type of bias impacts the ways in which people gathers information, but it can also influence how that information is interpreted and how it is recalled (Howard, 2019). For example, with confirmation bias, those who support one belief will tend to seek information supporting that belief to uphold their prior or existing ideas of that belief instead of taking on newer ideas of the belief. Although most believe they are open-minded and that they observe facts before reaching a conclusion, it is also likely that confirmation bias is still influencing and shaping their opinions in the end. If knowing the understanding of confirmation bias, then individuals can recognize methods of opposing their views while listening to others to

MINIMIZING BIASES AND INCREASING OBJECTIVE DECISION MAKING

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see if a different opinion on the view can be established (Howard, 2019). This also enables the person to recognize varying perspectives concerning one belief, idea, or opinion as opposed to relying on that sole belief that have already developed. Status Quo Bias Status-Quo Bias frequently affects those are making decisions. This bias if a type of cognitive bias in which involves the individual preferring that concepts remain the same or that the state of their affairs remain the same with no change (Ritov & Baron, 2015). Status-Quo bias can affect individuals’ behaviors. Becoming aware of this type of bias influences the ways in which decisions are made and behaviors are conducted. The Status—Quo biases can enable people to become resistant to change and it greatly effects the ways in which they make decisions with general every day concepts, thinking, and behaviors (Ritov & Baron, 2015). Some methods of overcoming Status-Quo biases are recognizing that are taking on a perspective that is requiring for yourself to overcome the powerful thinking, simplifying the decision process for yourself, explaining and quantifying what is expected from the benefit that you will be making the switch to, and making the decision process less daunting (Ritov & Baron, 2015). Conclusion A wide range of associations face predispositions and difficulties with target basic leadership techniques. Predispositions are consolidated in changing foundations, contemplations, presumptions, and activities that are related with individuals. It is imperative to see how inclinations functions and what job predisposition can play just as how inclination can influence organizations and change the executives forms inside the organization. Inclinations can be characterized as being preference, or as being agreeable to one individual over another, or how

MINIMIZING BIASES AND INCREASING OBJECTIVE DECISION MAKING

one feels or shows partiality practices and activities towards a person or thing. The critical thinking inclinations incorporate activity predisposition, institutional, sunk-cost predisposition, just as the arranging false notion. The negative outcomes of being activity arranged is getting to be overactive, restless, and jumping out before they take a gander at the circumstance. An affirmation inclination includes supporting some data that affirms earlier presence data rather than taking in the comprehension of something new.

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MINIMIZING BIASES AND INCREASING OBJECTIVE DECISION MAKING

References Howard, J. (2019). Confirmation Bias, Motivated Cognition, the Backfire Effect. In Cognitive Errors and Diagnostic Mistakes (pp. 57-88). Springer, Cham. Prat-Ortega, G., & de la Rocha, J. (2018). Selective/Perception Attention: A Plausible Mechanism Underlying Confirmation Bias. Current Biology, 28(19), R1151-R1154. Ritov, I., & Baron, J. (2015). Status-quo and omission biases. Journal of risk and uncertainty, 5(1), 49-61. Rudolph, J. W., Morrison, J. B., & Carroll, J. S. (2009). The dynamics of action-oriented problem solving: Linking interpretation and choice. Academy of Management Review, 34(4), 733-756.

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