Wednesday 26 April 2017

A balanced diet improves decision making

Just in the same way that one food group won't keep you healthy neither will one news group help you make the best decisions. This is one of the suggestions from the  EdX "Teach-out" course held over the weekend on "Fake news, facts and alternative facts".

The course highlighted a number of logical fallacies and cognitive biases including:
 "group bias"- a bias towards people who think like us
"strawman fallacy"- an oversimplification of the other side's view which is then easier to reject without full understanding
"bandwagon fallacy" - because lots of people believe something then it must be true.
 So, to ensure that we all successfully counter our own biases  and make better decisions, we need to actively seek out different views,opinions and a variety of perspectives as well as being open to challenge and being prepared to change our minds.
While this may seem to only apply in the political arena the recommendations are relevant to the world of business ethics which is simply about decision making too. Taking the time to check out the view of the stakeholders in your organisation and really understanding their perspectives will help build relationships, support for ideas and ensure your decision making is based on the firmest foundations.

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