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Showing posts from July, 2021

Leadership and the idea of confirmation bias

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Have you ever gone through a situation where all attempts to convince another person that something did not happen the way they think it did? It's tough, I bet you know that and there is no amount of conversation that would make the other person at the end of the table see the truth that is right there.  This whole kind of situation recently sent me searching for answers. I came across an interesting idea on confirmation bias; This is when as a person you look for information that confirms what you already think you know or believe, information that confirms rather than looking for information that contradicts. You keep looking for words and actions from the party that confirm what you think constantly, other than paying attention to what it might not be.  Leadership is tough and keeping an open mind and staying away from any kind of biases is very important and something we should strive to do. Here is an interesting article titled : The Hidden Traps in Decision Making: https...

Leadership and the idea of the sunk cost fallacy

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Have you ever found yourself in a situation where you felt that you had invested so much that it was too difficult to walk away from that investment? You look back and wonder how you spent the last year investing in a business that has not been fruitful? You ask yourself how you could have spent so much money on a pair of shoes that hurt so bad? And yes, you keep wearing them. Are you stuck with a job that does not suit you because of a million reasons? Have you hitched on investments you have previously made? The best part of it is that guess what, you are not alone and I have been there too. The effort, time and money you and I have invested is actually gone, there is nothing we can do about it. Acknowledging the truth has been painful yet liberating. Acknowledging this concept has been powerful, as it has helped me make better decisions that are not based on past investments. Join me as we get into the habit of designing our lives using the tools we have at that point in the toolbo...