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4 results for "Cognitive Biases"

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  • Building Blocks of Behavioral Strategy: How to De-Bias Your Decision Making Process

    While making critical decisions, not many strategists are conscious of the impact that cognitive biases have on business decisions.  These biases are part of human behavior, and can be referred to as “systematic human tendencies to deviate from rational calculations.” In strategi...

    Tags: Management & Leadership, Strategy, Marketing, & Sales, Behavioral Strategy, Cognitive Biases, Strategic decision making

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  • For a Successful Market Entry, First We Must Remove Our Cognitive Biases

    New market entry provides potential opportunities for organizations to grow.  But penetrating a market and establishing a new business is fraught with complications and failure.  Attempts at entering a new market often fail, in fact, research suggests that for every successful market en...

    Tags: Strategy, Marketing, & Sales, Cognitive Biases, market analysis, Market Entry, Reference Class, Removing Biases

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  • When the Front End and Back End of Innovation Collide

    This article was inspired by a recent blog by Seth Godin, where he discussed some challenges that start-ups who rely on early adopters may face when they scale up. https://seths.blog/2018/11/the-curse-of-the-low-hanging-fruit/For a start-up, early adopters who are highly engaged in a category, an...

    Tags: innovation, innovation excellence, Creativity, Innovation, Psychology, Strategy, Back End Innovation, cognitive biases, confirmation bias, Devil's Advocate, End Result, Front End Innovation, Low-hanging fruit, Procrastination, productive pause

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  • 3 Ways Our Bias to Oversimplify the Future Hurts Innovation

    Estimates that attempt to quantify failure rates for innovative products and services typically sit in a range somewhere between 70-95%. As an innovator, I find this an uncomfortably large number, especially given how much time and money we invest in innovation processes, consumer research a...

    Tags: innovation, innovation excellence, Innovation, Leadership, Management, Strategy, Business Psycology, cognitive biases, consumer research, Evolutionary Psychology, future, innovation process, Innovation Psychology, retail psychology, shopper psychology

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