How common biases affect the decision-making process

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Assignment: 1. As a leader, it is important to not only understand what common biases are, but to also have the self-awareness to understand those that they possess. Only through this self-awareness can a leader minimize errors in the decision-making process. What could be the result if self-awareness is not attained?

2. Decision making must be balanced, taking into consideration both short-term and long-term business outcomes. Explain how common biases, bounded awareness, emotions and motivation affect the decision-making process.

3. What ethical factors should be taken into consideration when making a decision?

4. Ethics can be considered as doing the right thing. How do you believe ethical standards in multi-national corporations should be adjusted for the diverse cultures the organization works within?

Reference no: EM132368405

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