Will decision making improve if we understand the bias in the decision making unit?
As a human I know we all have biases, and we all have different biases. We expose certain biases based on context, time, and people. We know that bias forms because of experience, and we are sure that social context reinforces perceived inconstancy. Bias is like a mirror and can show our good and bad sides. As a director, you have to have experience before taking on the role, even as a founder director. This thought-piece asks if we know where our business biases start from and what direction of travel they create. Business bias is the bias you have right now that affects your choice, judgment and decision making. Business bais is something that our data cannot tell us. Data can tell me if your incentive removes choice or aligns with an outcome. At the most superficial level, we know that the expectations of board members drive decisions. The decisions we take link to incentives, rewards and motivations and our shared values . If we unpack this simple model, we can follow (the b