Practice Cognitive Biases (12.5.1) - Decision-Making in Organizations - Management 1 (Organizational Behaviour/Finance & Accounting)

Practice: Cognitive Biases

Lesson 12.5.1Decision-Making in Organizations

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9 questions

Flashcard drill
4 cards from this section. Quick, good the night before a test.
Exercise
6 questions · about 4 min · pass mark 70%. Hints available.
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Quiz
3 questions · about 2 min · pass mark 70%. Hints available.
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6 sample questions

Question 1.
Define cognitive bias.
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Think about decision-making errors.
Question 2.
What is confirmation bias?
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Consider how we view evidence.
3Question 3.
What is anchoring bias?
- Relying on the first piece of information
- Only using positive information
- Overestimating abilities
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Think of buying a car and the first price you see.
4Question 4.
True or False: Confirmation bias helps in making well-rounded decisions.
- True
- False
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Think about how we assess evidence.
Question 5.
You are the manager of a team considering a new project. While reviewing past project data, you find initial statistics encouraging. However, the newer data presents a warning. Analyze how you would address the potential for anchoring bias.
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Think about how different viewpoints can mitigate bias.
Question 6.
In a meeting, a fellow manager insists on pursuing a flawed marketing strategy based on previous success without considering recent changes in the market. Draft a plan illustrating how you might present counterarguments based on evidence to combat confirmation bias.
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Consider how to use evidence effectively in discussion.

5 more questions in this section. Enroll free to practise them all.