In: Finance
Explain the theory of cognitive dissonance. Explain with example three ways to redress the cognitive dissonance state.
Theory of cognitive dissonance will be advocating that there is a mental conflict that is existing between various individual due to holding up on two different opinion and beliefs and which will be leading them to discomfort of making decisions.
There is an inconsistency between how the people is behaving and how is believing, so that thin line of difference will be leading to conflicting opinions and that would be leading to discomfort.
Three ways to redress the cognitive dissonance is stated as follows-
A. Changing the belief can be helpful as changing the belief will be meaning that changing of the entire believing process of the individual.
B.adding of more supporting belief will be important also because it will be helpful in reducing conflict in having two opinion. Example would be to strengthen one belief.
C. Reducing the importance of the conflicting belief by doing various kinds of motivational activities.