Question

list and explain with examples one decision making bias observed in groups, discuss how can you prevent these biases from negatively influencing decision outcomes.

Answer 1

We all have been bias at some point of time in our life, let us not get into the details but this is something which everyone should agree upon. Being bias is nothing but a way a1ccording to which our brain try to reduce the energy it intakes while dealing with the million terabytes of data or information comes to us on a day to day. While coming to a conclusion we normally try to connect the dots, try finding gaps and fill them with piece of knowledge we believe we know and as a result to act fast then we actually should not.

Take an example of researching the start-up information technology company that came into existence for a certain period of time. We conclude very fast without proper analysis and going in depth before attending a conclusion. Talking of the case we read and consider only those company which have made considerable profit and leave those who have failed and to what extent they have failed. A common error of not spending equal time for them can be a contributing factor, this gives us an inaccurate idea or to some extent false data which is going to add in our mind. This is a wrong probability idea. We must identify every possible scenario with full conviction to reduce such error from taking place.

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