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strategy for making decisions based on the behavior

Very interesting article The case for behavioral strategy (for access need to register) published by McKinsey on the influence of bias and personal bias in making the business decisions. The conclusion is that we should adopt a strategy based on the behavior of people who identify and counter the biases and prejudices that influence the decision-making processes for them to be successful. In an interpretation nearest alert the danger of basing professional decisions on intuition, experience and personal convictions.

The study was based on analysis of 1,048 major corporate decisions taken within the last five years. The first and most surprising conclusion is that the process itself is crucial in order to make a decision that the preliminary diagnosis. Makes sense. A good decision-making process identifies and corrects a wrong diagnosis of the situation, but does not ensure a good diagnostic means a good decision if further processing is not correct.

Any decision process includes informal correction of certain bias, distrust in a system of those who may have an interest in the results or correct downward the figures raises a person known for his anthropological optimism. Yet empirical observation shows that these approaches are insufficient. Must start from the premise that prejudice is so firmly established that no person alone is able to escape completely from them.

most common patterns of prejudice, bias prominence (which leads us to overvalue recent events or particularly memorable) and confirmation bias (tendency to ignore evidence that refutes a hypothesis already formed). The more experienced more exposed is a manager to be a victim of their biases and prejudices. And the higher in rank and persuasive words, the greater the danger of imposing these to the rest of his staff in making the decision. A common technique to mitigate the effect of biases and prejudices is to change the point of view. May be by carrying out field studies or customer visits. Sometimes it's as simple as asking participants to do an introspective exercise explaining the reasoning and the experiences that lead them to take a particular position.

Among the behavioral traits that influence the making of incorrect decisions is too oriented to action which may lead to overly optimistic approaches taken or not deep enough. The organizations tend to opt for those who show this profile in general attach more confidence to those who show us ways forward that people who warn of the risks and barriers. However accept uncertainty and recognize the risks are prerequisites to making a good decision.

Another common trend is reversed, the tendency to stability. It occurs when we have more in mind the failures that the successes achieved, or when developing a budget, we substantiated in previous years. Given this behavior by setting goals that can act are impossible to achieve by doing things as usual. or start developing budgets from a blank sheet. Before

biases of interest, how to act is explicit in advance the situation, conditions and implications of the participants and the evaluation criteria to be adopted. Social and cultural prejudices are mitigated only variety: the lack of dissent is a strong warning signal. It is also essential to the commitment of management to maintain a real participatory process.

To adopt a strategy of behavior in decision making is necessary to follow a sequence of four stages. 1) Decide to justify decisions implement a strategy based on behavior. 2) Identify the biases that can affect the most critical decisions. 3) Select the tools and practices to address the most relevant biases. 4) Integrate the practices identified in the decision-making processes.