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MIND TRAP: Heuristic Thinking

Guest post by: Steve Major

Article Overview: There are traps we can fall into that can kill smart decisions. In this article Steve Major discusses the fourth of a series of five mind traps - heuristic thinking. We have various biases and maybe rule of thumbs that we don't realise are present in our thinking. Once we have made that decision we then justify it afterwards but we don't challenge that initial decision.

MIND TRAP: Heuristic Thinking

There are five mind traps that I feel we fall into in making decisions: 1. Following Fads and Fashion

2. When we don't question assumptions

3. Perspective

4. Heuristic Thinking

5. Ignoring the Evidence.

It does not matter whether it's the decision to launch a new product, to change an existing product or service, or whether it's some other decision that we are faced with in our business - maybe it is a decision personal or career decision. There are traps that we can fall into that can kill smart decisions.

The mind trap of smart decisions I wish to focus on in today's article is when we take shortcuts in making decisions.

We have various biases and maybe rule of thumbs that we don't realise are present in our thinking. Once we have made that decision we then justify it afterwards but we don't challenge that initial decision.

One of the biases is the confirmation bias. This is where we only look for the information to confirm the truth of the decision we have made. We think we are making a sound decision, all we end up doing is following. It is called heuristic thinking. A heuristic is a brain shortcut that we adopt to make decision-making easy, but unfortunately it can lead to being a mind trap.

There are other biases in addition to the confirmation bias that we can fall guilty to. Another is what we have come to call "groupthink" where a group of people together end up making a decision that individually they may not have made. Nobody at the time though challenges the decision. The group collectively fall into a decision making mind trap.

To prevent these biases or heuristics the first point is to be aware that we all suffer from then. The next point is that we be willing to challenge any decision or ask for more information. The confirmation in particular I believe leads to many flawed decisions.

So to use that clothing example from the first article, "Following Fads and Fashions" again, the only way you are able to explain that the clothing item is in your cupboard is to say that your brain took a vacation. It is when you don't know what on earth you were thinking when you purchased that item. In business we don't think of it like that, yet there are decisions that we are making that are equally flawed.

Watch out for the mind trap of heuristic thinking. It's a killer to smart decisions.

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Article Tags: biases, business decision, business issues, heuristic thinking, initial decision, mind trap, smart decisions
Referred by: http://www.dglong.com



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