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HBSP (USA)
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Pattern Recognition: How Our Mental Processes Increase the Likelihood of Making Flawed Decisions
Finkelstein, Sydney; Whitehead, Jo; Campbell, AndrewBook Chapter HBS-3606BC-EPattern recognition is a great friend to decision makers. It allows us to make (mostly) good judgments, filling in gaps in information based on our past experience. This process is not foolproof, however, and can cause failures in judgment if we're not careful, especially when we think we have sufficient relevant experience in situations when we do not. As the authors explain in this chapter, we need to identify when erroneous pattern recognition...Starting at €8.20
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Misleading Experiences: How to Spot This Common Cause of Flawed Decisions
Finkelstein, Sydney; Whitehead, Jo; Campbell, AndrewBook Chapter HBS-3609BC-EComplex decisions involving interpretation and judgment are difficult to get right. Especially considering the fact that our brains have developed decision making processes that rely heavily on our past experience. Misleading experiences are a common source of error in decision making that occur when the brain erroneously connects memories that seem similar to the situation we are currently assessing. But how do we know when an experience is misl...Starting at €8.20
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Inappropriate Self-Interest: A Beguiling and Unconscious Influence on Decision Making
Finkelstein, Sydney; Whitehead, Jo; Campbell, AndrewBook Chapter HBS-3611BC-EThe demise of Enron stands out as an iconic story of self-interest and its corrosive effect on decision making. This story of corruption, however, is extreme, and we might be tempted to think that self-interest is a rare influence on decision making, limited to a few dishonest or misguided people. Not true. In fact, the impact of self-interest is much more pervasive. It can affect the decisions of the most thoughtful and upstanding leaders. It ca...Starting at €8.20
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Inappropriate Attachments: How to Avoid Letting Personal Attachments Lead Decision Making Astray
Finkelstein, Sydney; Whitehead, Jo; Campbell, AndrewBook Chapter HBS-3612BC-EPersonal attachments surround us and can have a major role in any decision, sometimes to our extreme detriment. Attachments are very important to consider. They bring meaning and joy to our lives--they include attachments to our friends and families, to communities, to places, and even to objects that have taken on significance for us. It would be virtually impossible not to be affected by these attachments as we make decisions, but, under certai...Starting at €8.20
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Why Good Leaders Make Bad Decisions (Spanish version)
Campbell, Andrew; Whitehead, Jo; Finkelstein, SydneyArticle HBS-R0902DLeadership and People Managementinject fresh experience or analysis, introduce further debate and more challenges to their thinking, and impose stronger governance. Rather than rely on the wisdom of experienced chairmen, the humility of CEOs, or the standard organizational checks and balances, the authors urge, everyone involved in important decisions should explicitly consider whether red flags exist and, if they do, lobby for appropriate safeguards.Starting at €8.20
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One Plan at a Time: How Our Mental Processes Increase the Likelihood of Making Flawed Decisions
Finkelstein, Sydney; Whitehead, Jo; Campbell, AndrewBook Chapter HBS-3608BC-EIf our brains naturally questioned and challenged our assessments and judgments or compared multiple solutions to a problem, we would be much better at spotting errors in our thinking and correcting them. But we do not. We have evolved a brain that assesses the situation, comes up with a plan of action, and then evaluates that plan. We do not consider alternative unless we imagine that our first plan won't work. The authors describe this process ...Starting at €8.20
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Reducing Risks with Safeguards: Techniques for Guarding Against the Mental Distortions that Lead to Bad Decisions
Finkelstein, Sydney; Whitehead, Jo; Campbell, AndrewBook Chapter HBS-3613BC-EThe Bay of Pigs was a military and political fiasco, but President Kennedy learned from his mistake and created a process that reduced the risk of a flawed decision when faced with the Cuban Missile Crisis the following year. He recognized the potential to prejudge the situation, draw on misleading experiences, and be over-influenced by self-interest, so safeguards were put in place to guide his decision making. Safeguards can involve a wide rang...Starting at €8.20
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Why Good Leaders Make Bad Decisions
Campbell, Andrew; Whitehead, Jo; Finkelstein, SydneyArticle HBS-R0902D-ELeadership and People ManagementDecision making lies at the heart of our personal and professional lives. Yet the daunting reality is that enormously important decisions made by intelligent, responsible people with the best information and intentions are nevertheless hopelessly flawed at times. In part, that's due to the way our brains work. Modern neuroscience teaches us that two hardwired processes in the brain - pattern recognition and emotional tagging - are critical to d...Starting at €8.20
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In the Eye of the Storm: What's Going on Inside the Brain When Good Leaders Make Bad Decisions
Finkelstein, Sydney; Whitehead, Jo; Campbell, AndrewBook Chapter HBS-3583BC-EHurricane Katrina caused catastrophic damage to the Gulf Coast in August of 2005. Hundreds of thousands of people lost their homes--many permanently. At least 1,800 people died, and the total cost of the damage was estimated at $86 billion. And yet, many hours were lost as Matthew Broderick, Director of the Homeland Security Operations Center in Washington, D.C., gathered information and then made the wrong decision, failing to leap into action i...Starting at €8.20
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Emotional Tagging: How Our Mental Processes Increase the Likelihood of Making Flawed Decisions
Finkelstein, Sydney; Whitehead, Jo; Campbell, AndrewBook Chapter HBS-3607BC-EWhen someone makes a bad decision, it is often said that that person let his emotions get in the way of clear judgment. According to the authors, it is true that the brain's decision making processes rely heavily on emotions. When the brain stores a memory of an event or action, it also stores an associated emotion with it. This is called "emotional tagging," an unconscious process that helps us assess a situation and identify a suitable action p...Starting at €8.20