How to become an effective – bias-free – decision-maker in an increasingly global economy

Wickham, Philip A. (2006) How to become an effective – bias-free – decision-maker in an increasingly global economy. Handbook of Business Strategy, 7 (1). pp. 57-62. ISSN 1077-5730

Abstract

Abstract: Purpose – To make strategists aware of decision biases and their potential impact on effective strategic decision-making.
Design/methodology/approach – A review of five critical biases, their sources and impact. The article includes a self-test.
Findings – Suggestions on how the strategist can address biases in self and others as part of strategic leadership.
Research limitations/implications – Conceptual review and self-test.
Practical implications – Simple, easy to implement guidance on managing biases in self and others.
Originality/value – Raising strategists’ awareness of biases and their potential impact. Self-test on decision biases. A route to the literature on the issues.

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