COGNITIVE DEBIASING

Making better decisions is a big challenge for the executives. Many businesses have experienced problems and failures due to poor decisions taken by their leaders. Reasons for these failures lie in the fact that they are subject to cognitive biases and beliefs that constantly misrepresent the judgement when making decisions. Managers are usually making ample strategic, tactical and operational decisions. To improve organizational effectiveness, they should have the ability to overcome cognitive biases which are the systematic patterns of deviation from rationality. This study aimed to analyse about various debiasing techniques and their impact on decision making process and the impact of decision-making process on organizational effectiveness with reference to manufacturing industry. This book explains about debiasing strategies which are helpful in improving the quality of decisions which can increase organizational effectiveness.