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Cognitive Biases Inhibiting Innovation in Top Management Teams
August 5, 2012 Editor 0
The top management team of an organization is arguably the most important team for deciding and implementing innovation strategies. They typically decide which markets to be entered, which markets to be exited, and which new technologies to pursue. But decision making is fraught with biases – errors in judgment that affect the quality of decisions. Sometimes with devastating results. In this post we will see how basic human psychology affects the decision making of top management teams.
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