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Behavioral Economics
How do Great Leaders Solve Problems in Business?
Companies today are expected to adapt and respond quickly to challenges in a rapidly changing business environment. Notwithstanding sound planning...
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Understanding and Implementing Decision Rights
Introduction Decision clarity in an organization requires two essential parts: knowing what decisions to make and who should make them....
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Key Elements for Attaining Decision Clarity: Tips and Strategies
Introduction Making the correct decisions can be intimidating in everyday life, especially regarding business. Business decisions involve numerous data points,...
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Understanding Decision-Making in Organizational Strategy and Management
Every important decision can make or break a business, and the success or failure of an organization depends on how...
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10 Best Decision-Making Practices and Techniques
Introduction We make multiple decisions daily, potentially impacting our actions and everyone around us. Executives feel this pressure more and...
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What is Decision-Making? Why is it Important for Business Success?
In simple terms, decision-making is the ability to make a choice. However, it can become complicated in an organizational context....
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Mastering Leadership: Traits, Styles, and Challenges
Becoming a great leader means honing in on the actions that create one. Leadership is essential in driving meaningful change...
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Mastering the Art of Effective Communication Skills: Strategies, and Contexts
Communication is the driving force behind all human interactions. It enables harmonious relationships at school, work, and in your personal...
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Enabling Decision-Making Across Organizational Levels
In any organization, decisions can alter the company's course and have a significant and sometimes irreversible impact on the lives...
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6 Habits of High-Impact Strategy Execution Leaders
In today's fast-paced and competitive business environment, successful strategy execution is crucial for organizations to stay ahead of the curve....
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Mastering Key Concepts of Behavioral Economics
Behavioral economics, a field that combines insights from psychology and economics, has become increasingly relevant in understanding the complex decision-making...
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12 Behavioral Economics Secrets for all Marketers
This blog will explore the top 12 behavioral economics concepts and their applications in marketing strategies to create a stronger...
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The Psychology of the Dunning–Kruger Effect
In 1999, two Cornell University psychologists, David Dunning and Justin Kruger, released a paper analyzing the problem of metacognition in...
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Adverse Effects of Social Loafing in the Workplace
Introduction Collaboration is the lifeblood of every successful business, but nearly four in 10 employees say it's lacking in their...
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5 Steps in Daily Work Routine to Improve Productivity
Productivity is one of the key factors that determine the success of an individual's career. Producing the most amount of...
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What is an Elevator pitch? How to Write One, With an Example
You can have the vision to build a great organization that produces excellent products. But in the end, all that...
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The Effects of Self-Serving Bias at The Workplace
Our minds look for the meaning behind every good and bad thing that happens in life. We prefer positive events...
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Sunk Cost Fallacy and Failing Initiatives
The sunk cost fallacy is our habit of continuing a project we invested in, even when the downsides outweigh the...
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Bounded Rationality – Limitations and Examples
Humans are primarily rational, and we want to believe that we make decisions based on logic and reason. But the...
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The Psychological Reasoning Behind Barnum Effect
Introduction When you crack open a fortune cookie, the message inside is likely heartwarming or motivating, like, "You are almost...
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Representativeness Heuristic and Decision-Making
Decision-making is a complex process that determines our daily lives, from choosing our meals, our significant others, our purchases, and...
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How Does Anchoring Bias Affect Decision-Making?
Ask anyone about their life expectancy: how long do they think they'll live? The most common answers involve parents and...
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Herd Mentality: Why Do We Want To Do What Everyone Else Does?
Introduction There are people, and then there are sheeple, which are easily influenced and conform to the majority opinion. People...
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What is Cognitive Dissonance and How to Avoid the Pitfalls?
Decision making is an integral part of organizations. Taking the right decisions at the right time every time plays a...
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What is Confirmation Bias and How Does it Work?
Good decisions play a key role in the long-term success and growth of the organization. But good decision making requires...
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Psychology Behind Availability Heuristic and Decision Making
In a fast moving world, business decisions need to be taken quickly and correctly on a consistent basis for long-term...
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Hindsight Bias, Assumptions and Predictability
Running an organization is all about making choices and making decisions. When decisions are taken at the higher echelons of...
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What is IKEA Effect?
How can you leverage the IKEA effect to benefit your business? Participation and initiative from the self are key driving...
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What is Ratchet Effect? Explained with Examples
Introduction A ratchet is any mechanism that allows progressive movement in one direction. Named after the ratcheting form of a...
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The Commitment Effect & Its Role in Business
What is the Commitment Effect? When you make a decision on an idea, and then a more efficient, innovative alternative...
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Halo Effect and its Role in Business
Why do customers return to the same brand over and over? Why do managers select one employee above the others...
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Time Discounting & Employee Rewards
Human Behavior and Business Human behavior plays a bigger role in business than you might think. Behavioral economics is the...
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The Law of Reciprocity in Business
Human nature has a massive impact on all businesses, whether it is apparent or not. At times, human beings make...
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Deliberate ignorance in the Business Setting
The first line of Aristotle's Metaphysics starts with a seemingly obvious truth "All men by nature want to know". According...
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Decision Fatigue
Decision Fatigue refers to the mental exhaustion that is caused after rigorous decision-making sessions. It addresses how the quality of...
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The IKEA Effect and OKR: Boosting Employee Engagement
More and more, employee engagement has come to be considered one of the most important pillars of successful corporate strategy....
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Behavioral Economics and Employee Engagement
How many of us have landed our ideal dream job? According to the Gallup report, only 33% of the US...
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The Role Loss Aversion Plays in the Goal Setting Process
Loss aversion as its name implies occurs when the psychological impact of losing something outweighs the pleasure of gaining. The...
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