The last decade has seen an increased appreciation of behavioral economics and its effect on the practice of management. In a recent HBR article, Daniel Kahneman, Dan Lovallo, and Olivier Sibony outline the questions that a decision-maker needs to ask before making a strategic bet. Their approach, however, does little to reveal the biases embedded in the assumptions held by management teams and reflected in the frameworks they use. These biases arise from what Kahneman and his long-time research partner Amos Tversky call framing.
Reframe Your Strategy to Avoid Hidden Biases
The last decade has seen an increased appreciation of behavioral economics and its effect on the practice of management. In a recent HBR article, Daniel Kahneman, Dan Lovallo, and Olivier Sibony outline the questions that a decision-maker needs to ask before making a strategic bet. Their approach, however, does little to reveal the biases embedded […]
August 31, 2011
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New!
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Strategy Planning and Execution Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
How to develop a winning strategy—and put it to work.