Master Class [162]: How to Minimize Your Biases When Making Decisions

“THERE IS ALWAYS an easy solution to every human problem—neat, plausible, and wrong.” Little did he know it when he penned these words, but journalist H.L. Mencken was tapping into the very core of behavioral decision-making and the need to understand and compensate for it.

Every day, senior managers are tasked with making very significant strategic decisions for their companies, which usually require support by teams of internal and external experts and a heavy dose of research.

Theoretically, knowledge-based decision-making underpins every successful organization. But, as Plato pointed out, “Human behavior flows from three main sources: desire, emotion, and knowledge.” Firsthand experience and bestsellers like Daniel Kahneman’s Thinking, Fast and Slow have confirmed