While this series will touch on big and ugly paradoxes (we started with the 1st paradox being - unbiased decisions) that are arguably easy to recognize, this example is so 'obvious' that one could get bitten by it through lack of attention or better sounding, "cognitive bias".
Decision Making Articles
We are pleased to present a guest post written by Dr. Constantinos Pantidos. Dr. Pantidos is the Founder of Brand Aviators, a brand strategy agency that helps clients around the world build their brands “neural equity”.
We can’t think of any phenomena that so closely integrates neuroscience and business (per the Business Brain Model) than that of decision making - evidenced by the fact that we have posted some 45 articles on this topic to date.
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.
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).