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Decision Making Barriers and Management Theory Essay

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Management

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Running Head: Management 1
Decision Making Barriers
Student’s Name
Institutional Affiliation
Management
Date
(Total Words:521)

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Management 2
Decision Making Barriers
Obstacles to Making Good Decisions
The use of social psychology, group dynamics, and management theory to effective decision-
making is an interdisciplinary process (K.Borchardt, 2010). Checking the issues that can be
addressed is an important element of making a smart choice. However, unaddressed issues, such
as cognitive biases, often pose the greatest obstacles to making good choices, resulting in bad
decisions. These mental obstacles are often unspoken. Individuals and teams with cognitive
biases often select alternatives and make judgments. There are, however, methods for identifying
and overcoming difficulties. The most essential truth is that these obstacles, such as personal
overconfidence, confirmation bias, and anchoring bias, must be ignored and overcome.
Overconfidence in oneself
“Psychologists have meticulously shown that humans are consistently overconfident in their
judgments.” (2009, A.Roberto) Personal overconfidence leads to poor judgment, and people
often make high-risk choices because they are unprepared for any eventuality. This is more
prevalent among top achievers who are self-assured and willing to take risks.
Bias in Confirmation

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Running Head: Management 1 Decision Making Barriers Student’s Name Institutional Affiliation Management Date (Total Words:521) Management 2 Decision Making Barriers Obstacles to Making Good Decisions The use of social psychology, group dynamics, and management theory to effective decisionmaking is an interdisciplinary process (K.Borchardt, 2010). Checking the issues that can be addressed is an important element of making a smart choice. However, unaddressed issues, such as cognitive biases, often pose the greatest obstacles to making good choices, resulting in bad decisions. These mental obstacles are often unspoken. Individuals and teams with cognitive biases often select alternatives and make judgments. There are, however, methods for identifying and overcoming difficulties. The most essential truth is that these obstacles, such as personal overconfidence, confirmation bias, and anchoring bias, must be ignored and overcome. Overconfidence in oneself “Psychologists have meticulously shown that humans are consistently overconfident in their judgments.” (2009, A.Roberto) Personal overconfidence leads to poor judgment, and people often make high-risk choices because they are unprepared for any eventuality. This is more prevalent among top achievers who are self-assured and willing to take risks. Bias in Confirmation Management 3 Confirmation bias may occur when a contractor has a long history of excellent job performance and a positive working relationship. ...
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