At Kirchner Group, the fact that we often work in extreme conditions such as those related to rehabilitating companies and commercializing intellectual property, our track record illustrates the value in pattern recognition as a cognitive attribute and as a business advantage.
Decision Making Articles
This article revisits the topic with one particular technique (routine) and the documented benefits that are very relevant to the world of business: stress reduction and decision-making. What follows is a direct illustration of our objective with these blogs – namely sharing the information garnered in neuroscience that is directly relevant to business.
It is inherent in the essence of business that for true success, you must be able to leverage the relevant (explicit vs tacit) knowledge based on research and trial and error with the subtleties that are learned only as you hold on to a cat’s tail. In other words, you are best served with complimentary skills/experience – a combination of both – and not the exclusion of either.
Perhaps the best way to illustrate how this paradox works (as in “bites you”) is with a cross section (in summary form) of (just some) of the errors/biases that I have discussed in various articles. As always, I have tried to simplify (oversimplify?) the content so as to make it quickly digestible. For example: biases are not necessarily irrational (but can still be problematic).
The purpose of this article is to share some additional perspectives on intuition themes that are fundamental components of individual thinking – and in particular, describe some of their limitations. Simply put, your intuition is your initial impressions of the world around you – before you ‘learn’ specific principles. They reflect both expectations (belief) and experience (perception).
“I've lived through some terrible things in my life, some of which actually happened.” ― Mark Twain Of all of the the contexts (and I trust there are many) in which the Business Brain Model is relevant– amongst the most important is when it comes to decision making. I have written about this from several perspectives.
Just to be clear about terminology, groupthink is a phenomenon whereby individuals within a group strive for consensus to the extent they set aside their personal opinions and, in some cases, ‘inconsistent’ facts. While there is appeal (especially in a business context) for fast, “orderly”, “efficient” decisions, the trade-off can outweigh the benefits.
The obvious question arising as a result of these alarming results I reported on previously: What is a businessperson (any person) to do? The obvious (but impossible) solution is to avoid stress. Alternatively – could a businessperson (or anyone) deal with it effectively?