{"id":4455,"date":"2015-01-19T08:00:05","date_gmt":"2015-01-19T14:00:05","guid":{"rendered":"http:\/\/chicagoexecutivecoaching.com\/smartleadership\/?p=4455"},"modified":"2023-10-25T13:08:53","modified_gmt":"2023-10-25T18:08:53","slug":"5-blinding-bias-barriers-effective-decision-making","status":"publish","type":"post","link":"https:\/\/chicagoexecutivecoaching.com\/smartleadership\/5-blinding-bias-barriers-effective-decision-making\/","title":{"rendered":"5 Blinding Bias Barriers to Effective Decision Making"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"4455\" class=\"elementor elementor-4455\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-12defe9 e-con-full e-flex e-con e-parent\" data-id=\"12defe9\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a0d6982 elementor-widget elementor-widget-template\" data-id=\"a0d6982\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"container\" data-elementor-id=\"14203\" class=\"elementor elementor-14203\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f7708a7 e-flex e-con-boxed e-con e-parent\" data-id=\"f7708a7\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-898ef40 e-con-full e-flex e-con e-child\" data-id=\"898ef40\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-27d775a elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"27d775a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">5 Blinding Bias Barriers to Effective Decision Making<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5417b4f elementor-align-center elementor-widget elementor-widget-post-info\" data-id=\"5417b4f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"post-info.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-inline-items elementor-icon-list-items elementor-post-info\">\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-545bbe2 elementor-inline-item\" itemprop=\"author\">\n\t\t\t\t\t\t<a href=\"https:\/\/chicagoexecutivecoaching.com\/smartleadership\/author\/lbwebmaster\/\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-user-circle\" viewBox=\"0 0 496 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M248 104c-53 0-96 43-96 96s43 96 96 96 96-43 96-96-43-96-96-96zm0 144c-26.5 0-48-21.5-48-48s21.5-48 48-48 48 21.5 48 48-21.5 48-48 48zm0-240C111 8 0 119 0 256s111 248 248 248 248-111 248-248S385 8 248 8zm0 448c-49.7 0-95.1-18.3-130.1-48.4 14.9-23 40.4-38.6 69.6-39.5 20.8 6.4 40.6 9.6 60.5 9.6s39.7-3.1 60.5-9.6c29.2 1 54.7 16.5 69.6 39.5-35 30.1-80.4 48.4-130.1 48.4zm162.7-84.1c-24.4-31.4-62.1-51.9-105.1-51.9-10.2 0-26 9.6-57.6 9.6-31.5 0-47.4-9.6-57.6-9.6-42.9 0-80.6 20.5-105.1 51.9C61.9 339.2 48 299.2 48 256c0-110.3 89.7-200 200-200s200 89.7 200 200c0 43.2-13.9 83.2-37.3 115.9z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-author\">\n\t\t\t\t\t\t\t\t\t\tTom Lemanski\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-b1f0a24 elementor-inline-item\" itemprop=\"commentCount\">\n\t\t\t\t\t\t<a href=\"https:\/\/chicagoexecutivecoaching.com\/smartleadership\/5-blinding-bias-barriers-effective-decision-making\/#respond\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-comment-dots\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M144 208c-17.7 0-32 14.3-32 32s14.3 32 32 32 32-14.3 32-32-14.3-32-32-32zm112 0c-17.7 0-32 14.3-32 32s14.3 32 32 32 32-14.3 32-32-14.3-32-32-32zm112 0c-17.7 0-32 14.3-32 32s14.3 32 32 32 32-14.3 32-32-14.3-32-32-32zM256 32C114.6 32 0 125.1 0 240c0 47.6 19.9 91.2 52.9 126.3C38 405.7 7 439.1 6.5 439.5c-6.6 7-8.4 17.2-4.6 26S14.4 480 24 480c61.5 0 110-25.7 139.1-46.3C192 442.8 223.2 448 256 448c141.4 0 256-93.1 256-208S397.4 32 256 32zm0 368c-26.7 0-53.1-4.1-78.4-12.1l-22.7-7.2-19.5 13.8c-14.3 10.1-33.9 21.4-57.5 29 7.3-12.1 14.4-25.7 19.9-40.2l10.6-28.1-20.6-21.8C69.7 314.1 48 282.2 48 240c0-88.2 93.3-160 208-160s208 71.8 208 160-93.3 160-208 160z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-comments\">\n\t\t\t\t\t\t\t\t\t\tNo Comments\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b443e2c elementor-widget elementor-widget-shortcode\" data-id=\"b443e2c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><span class=\"bsf-rt-reading-time\"><span class=\"bsf-rt-display-label\" prefix=\"Reading Time\">\n\t\t<\/span> <span class=\"bsf-rt-display-time\" reading_time=\"2\"><\/span> \n\t\t<span class=\"bsf-rt-display-postfix\" postfix=\"mins\"><\/span><\/span><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-73b91e1 e-con-full e-flex e-con e-child\" data-id=\"73b91e1\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9be926b elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"9be926b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/chicagoexecutivecoaching.com\/smartleadership\/wp-content\/uploads\/elementor\/thumbs\/BiasFI-qon9j4nbzfhrlflnpe69ynunedlw0ooi2ahfnm1qtc.png\" title=\"BiasFI\" alt=\"Bias Caution Sign\" loading=\"lazy\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-bd52b87 e-flex e-con-boxed e-con e-parent\" data-id=\"bd52b87\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-ca2a63a e-con-full e-flex e-con e-child\" data-id=\"ca2a63a\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c93e166 elementor-widget elementor-widget-image\" data-id=\"c93e166\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"350\" height=\"200\" src=\"https:\/\/chicagoexecutivecoaching.com\/smartleadership\/wp-content\/uploads\/BiasFI.png\" class=\"attachment-full size-full wp-image-7728\" alt=\"Bias Caution Sign\" srcset=\"https:\/\/chicagoexecutivecoaching.com\/smartleadership\/wp-content\/uploads\/BiasFI.png 350w, https:\/\/chicagoexecutivecoaching.com\/smartleadership\/wp-content\/uploads\/BiasFI-150x86.png 150w, https:\/\/chicagoexecutivecoaching.com\/smartleadership\/wp-content\/uploads\/BiasFI-300x171.png 300w\" sizes=\"(max-width: 350px) 100vw, 350px\" title=\"\">\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b8e6df9 e-con-full e-flex e-con e-child\" data-id=\"b8e6df9\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d93c556 elementor-widget elementor-widget-heading\" data-id=\"d93c556\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">To Err is Human\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8850536 elementor-widget elementor-widget-text-editor\" data-id=\"8850536\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>With all of the incredible brain power that we humans possess, we\u2019re still prone to making really bad decisions.<\/p><p>We all routinely make generalizations about our surroundings and ourselves.\u00a0 All too often, these assumptions are either inaccurate or completely false.\u00a0 The result of using poor assumptions;\u00a0<strong>Bad Decisions<\/strong>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-38cea0ad elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"38cea0ad\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-323c7da3\" data-id=\"323c7da3\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-26d5636 elementor-widget elementor-widget-heading\" data-id=\"26d5636\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Bias Defined\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-51ca216a elementor-widget elementor-widget-text-editor\" data-id=\"51ca216a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h5 style=\"text-align: center;\"><em><strong>To influence in a particular, typically unfair direction; prejudice<\/strong>.<\/em> \u00a0 &#8211;<a href=\"http:\/\/www.answers.com\/topic\/bias\" target=\"_blank\" rel=\"noopener\">American Heritage Dictionary<\/a><\/h5><h3>\u00a0<\/h3><h3>Top 5 Bias Obstacles to Effective Decisions<\/h3><p>Here are the five most common biases along with brief examples.\u00a0 As you&#8217;re aware of them, you&#8217;re more likely to recognize and avoid their influence on your decisions.<\/p><h4>1 &#8211;\u00a0 Halo Effect<\/h4><p>A single trait of a person influences your judgement.<\/p><ul><li>Hiring People who are just like us when a job requires someone different.<\/li><li>Trusting and buying from a well dressed but unscrupulous sales person.<\/li><\/ul><h4>2 &#8211; Anchoring Bias<\/h4><p>We tend to rely too heavily, or &#8220;anchor,&#8221; on a piece of information when making<br \/>decisions.<\/p><ul><li>We have an estimated number in our head that we use to rate and compare other options.<\/li><li>You believe that professional services are billed by the hour.<\/li><\/ul><h4>3 &#8211; Availability Bias<\/h4><p>Uncommon yet vivid, easily imagined, or high impact events are highly weighted.\u00a0 These events are <em>the exception rather than the rule<\/em>.\u00a0 But recent memory clouds the judgement and creates a bias for <em>the exception<\/em>.<\/p><ul><li>A bad meal or negative experience at a restaurant.<\/li><li>Assuming Air Travel (Asian Air) is more dangerous than auto travel.<\/li><li>More concern for Ebola than the flu<\/li><\/ul><h4>4 &#8211; Commitment Bias<\/h4><p>Our tendency to increase commitment in a decision, based on a prior<br \/>investment, despite evidence suggesting that the cost of continuing<br \/>the decision outweighs the anticipated benefit.\u00a0 i.e. : Throwing good money after bad.<\/p><ul><li>Cutting your price with the belief that you can make up margins with volume.<\/li><li>Gamblers belief that they can win back their losses.<\/li><li>Entrepreneurs who perpetuate a business when their market has disappeared.<\/li><\/ul><h4>5 &#8211; Confirmation Bias<\/h4><p>Favoring Information that verifies or validates your beliefs.<\/p><ul><li>Political loyalists unable to accept the other party&#8217;s initiatives based on their source.<\/li><li>Relying on racial or ethnic stereotypes<\/li><li>Past positive performance reviews.<\/li><\/ul><h3>To Grow is Human<\/h3><p>For us humans, making mistakes comes with the territory.\u00a0 We are all subject to bias related mistakes.\u00a0 But executives who make bad decisions without knowing <strong><em>why<\/em><\/strong> are destined to repeat them.\u00a0 How have your biases backfired for you?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-2fecd81 e-flex e-con-boxed e-con e-parent\" data-id=\"2fecd81\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f66caf1 elementor-widget elementor-widget-heading\" data-id=\"f66caf1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Acknowledgement\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9bce043 elementor-widget elementor-widget-text-editor\" data-id=\"9bce043\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Thanks to Cyndi &amp; John Gave of <a href=\"http:\/\/themetissgroup.com\/\" target=\"_blank\" rel=\"noopener\">The Metiss Group<\/a> for sharing this insight at the 2015 TTI Success Insights Conference<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>With all of the incredible brain power that we humans possess, we&#8217;re still prone to making really bad decisions.<\/p>\n","protected":false},"author":3,"featured_media":7728,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpscppro_dont_share_socialmedia":false,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"","_twitter_share_type":"","_linkedin_share_type":"","_pinterest_share_type":"","_linkedin_share_type_page":"","_instagram_share_type":"","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":[],"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[23,124],"tags":[260,258],"class_list":["post-4455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-attitude-development","category-decision-making","tag-blind-spots","tag-critical-thinking"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/chicagoexecutivecoaching.com\/smartleadership\/wp-content\/uploads\/BiasFI.png","jetpack_shortlink":"https:\/\/wp.me\/p1I2Yr-19R","_links":{"self":[{"href":"https:\/\/chicagoexecutivecoaching.com\/smartleadership\/wp-json\/wp\/v2\/posts\/4455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chicagoexecutivecoaching.com\/smartleadership\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chicagoexecutivecoaching.com\/smartleadership\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/chicagoexecutivecoaching.com\/smartleadership\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/chicagoexecutivecoaching.com\/smartleadership\/wp-json\/wp\/v2\/comments?post=4455"}],"version-history":[{"count":0,"href":"https:\/\/chicagoexecutivecoaching.com\/smartleadership\/wp-json\/wp\/v2\/posts\/4455\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/chicagoexecutivecoaching.com\/smartleadership\/wp-json\/wp\/v2\/media\/7728"}],"wp:attachment":[{"href":"https:\/\/chicagoexecutivecoaching.com\/smartleadership\/wp-json\/wp\/v2\/media?parent=4455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chicagoexecutivecoaching.com\/smartleadership\/wp-json\/wp\/v2\/categories?post=4455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chicagoexecutivecoaching.com\/smartleadership\/wp-json\/wp\/v2\/tags?post=4455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}