How to become an effective – bias‐free – decision‐maker in an increasingly global economy

Abstract

Purpose To make strategists aware of decision biases and their potential impact on effective strategic decision‐making. Design/methodology/approach A review of five critical biases, their sources and impact. The article includes a self‐test.Findings –Suggestions on how the strategist can address biases in self and others as part of strategic leadership. Research limitations/implications Conceptual review and self‐test. Practical implications Simple, easy to implement guidance on managing biases in self and others. Originality/value Raising strategists’ awareness of biases and their potential impact. Self‐test on decision biases. A route to the literature on the issues.

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