{"id":17493,"date":"2022-01-14T11:06:48","date_gmt":"2022-01-14T09:06:48","guid":{"rendered":"https:\/\/blog.esmt.berlin\/voices\/?p=17493"},"modified":"2023-03-21T15:58:18","modified_gmt":"2023-03-21T13:58:18","slug":"understanding-bias-to-make-better-business-decisions-in-2022","status":"publish","type":"post","link":"https:\/\/blog.esmt.berlin\/voices\/understanding-bias-to-make-better-business-decisions-in-2022\/","title":{"rendered":"Understanding bias to make better (business) decisions in 2022"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

As with the start of every new cycle, people usually stop to reflect and set targets for the new time ahead. Personally, at the beginning of each year, I like to write things down, and then I have the chance to look back and see what I was thinking and compare it with what has happened. Even though the reality is quite different from the planning, there is much to learn from this exercise and it provides a sense of gratefulness for everything that happened in the past 12 months. <\/p>\n\n\n\n

During my reflection at the beginning of 2022, I realized that the perception of what was going on in the world was missing in my mind. After approximately two years of living with the COVID-19 pandemic, it is already a clich\u00e9 to say that many things have changed: the way people work (reference from McKinsey & Company<\/a>); how supply-chain processes will be revised (from just-in-time to just-in-case \u2013 reference from New York Times<\/a>); and, significantly, the urgent call to action for a more sustainable future highlighted by the COP 2021 Summit in Glasgow. <\/p>\n\n\n\n

Each of these points brings a variety of topics and complex discussions that are far from my competencies to discuss and elaborate on. However, I see an element as transversal throughout every relevant talk we are about to have this year, and that is innovation. According to professor Clayton Christensen, one of the authors of the book Prosperity Paradox<\/em>, innovation can absorb three different connotations: incremental innovation, maintenance innovation, and the creator of new market innovations. <\/p>\n\n\n\n

Independently of each lens you want to use or definition you wish to pick, the idea that we desperately need new, sustainable, innovative, and scalable solutions for the problems we face as a society (the SDGs give us critical guidance) is evident. To do that, one of the main challenges leaders and managers are responsible for is to overcome the homophily biases \u2013 defined by psychologists as a tendency to be drawn towards others who are similar to us or to like the same things -, and genuinely seek hidden opportunities and\/or undervalued ideas that are there, be it on the market or even in your organization. <\/p>\n\n\n\n

To make 2022 a truly new year, it would be great to embrace a new outlook within our perspectives and goals for the next 12 months. Understanding how our biases guide our decision-making process and adapting to the context around us is crucial to improving and managing an organization that embraces and promotes innovation. This creates new perspectives to encourage a better future with diverse thoughts, ideas, and people. I hope you can find a place in your new year\u2019s resolution to add this kind of idea! <\/p>\n","protected":false},"excerpt":{"rendered":"

<\/span> 2<\/span> min read<\/span><\/span> As with the start of every new cycle, people usually stop to reflect and set targets for the new time ahead. Personally, at the beginning of each year, I like to […]<\/a><\/p>\n<\/div>","protected":false},"author":508,"featured_media":17497,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[736,1854,992],"tags":[],"ppma_author":[2021],"class_list":["post-17493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-careers","category-global-online-mba","category-insights"],"yoast_head":"\nUnderstanding bias to make better (business) decisions in 2022 | ESMT Berlin Blog<\/title>\n<meta name=\"description\" content=\"Understanding how bias guides our decision-making process and adapting\u00a0to the context around us is crucial to\u00a0improving\u00a0and managing an organization.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.esmt.berlin\/voices\/understanding-bias-to-make-better-business-decisions-in-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Understanding bias to make better (business) decisions in 2022 | ESMT Berlin Blog\" \/>\n<meta property=\"og:description\" content=\"Understanding how bias guides our decision-making process and adapting\u00a0to the context around us is crucial to\u00a0improving\u00a0and managing an organization.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blog.esmt.berlin\/voices\/understanding-bias-to-make-better-business-decisions-in-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"ESMT Berlin Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-14T09:06:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-21T13:58:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/blog.esmt.berlin\/voices\/wp-content\/uploads\/2022\/01\/Foto-Doug-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Douglas Souza\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Serena McCarville\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blog.esmt.berlin\/voices\/understanding-bias-to-make-better-business-decisions-in-2022\/\",\"url\":\"https:\/\/blog.esmt.berlin\/voices\/understanding-bias-to-make-better-business-decisions-in-2022\/\",\"name\":\"Understanding bias to make better (business) decisions in 2022 | ESMT Berlin Blog\",\"isPartOf\":{\"@id\":\"https:\/\/blog.esmt.berlin\/voices\/#website\"},\"datePublished\":\"2022-01-14T09:06:48+00:00\",\"dateModified\":\"2023-03-21T13:58:18+00:00\",\"author\":{\"@id\":\"https:\/\/blog.esmt.berlin\/voices\/#\/schema\/person\/df041d594a01cfa64cfea8bdb9b83b3d\"},\"description\":\"Understanding how bias guides our decision-making process and adapting\u00a0to the context around us is crucial to\u00a0improving\u00a0and managing an organization.\",\"breadcrumb\":{\"@id\":\"https:\/\/blog.esmt.berlin\/voices\/understanding-bias-to-make-better-business-decisions-in-2022\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/blog.esmt.berlin\/voices\/understanding-bias-to-make-better-business-decisions-in-2022\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/blog.esmt.berlin\/voices\/understanding-bias-to-make-better-business-decisions-in-2022\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/blog.esmt.berlin\/voices\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Understanding bias to make better (business) decisions in 2022\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/blog.esmt.berlin\/voices\/#website\",\"url\":\"https:\/\/blog.esmt.berlin\/voices\/\",\"name\":\"ESMT Berlin Blog\",\"description\":\"Empowering you to create a better tomorrow\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/blog.esmt.berlin\/voices\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/blog.esmt.berlin\/voices\/#\/schema\/person\/df041d594a01cfa64cfea8bdb9b83b3d\",\"name\":\"Serena McCarville\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/blog.esmt.berlin\/voices\/#\/schema\/person\/image\/6588355d461497cccc3c21e4563365e9\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/aceba01973ac9ee3aa3fdc2af039cbd2f6fb57da143f6ed58d04b1a760cf255c?s=96&d=identicon&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/aceba01973ac9ee3aa3fdc2af039cbd2f6fb57da143f6ed58d04b1a760cf255c?s=96&d=identicon&r=g\",\"caption\":\"Serena McCarville\"},\"sameAs\":[\"http:\/\/www.esmt.org\"],\"url\":\"https:\/\/blog.esmt.berlin\/voices\/author\/mccarville\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Understanding bias to make better (business) decisions in 2022 | ESMT Berlin Blog","description":"Understanding how bias guides our decision-making process and adapting\u00a0to the context around us is crucial to\u00a0improving\u00a0and managing an organization.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/blog.esmt.berlin\/voices\/understanding-bias-to-make-better-business-decisions-in-2022\/","og_locale":"en_US","og_type":"article","og_title":"Understanding bias to make better (business) decisions in 2022 | ESMT Berlin Blog","og_description":"Understanding how bias guides our decision-making process and adapting\u00a0to the context around us is crucial to\u00a0improving\u00a0and managing an organization.","og_url":"https:\/\/blog.esmt.berlin\/voices\/understanding-bias-to-make-better-business-decisions-in-2022\/","og_site_name":"ESMT Berlin Blog","article_published_time":"2022-01-14T09:06:48+00:00","article_modified_time":"2023-03-21T13:58:18+00:00","og_image":[{"width":2560,"height":1707,"url":"https:\/\/blog.esmt.berlin\/voices\/wp-content\/uploads\/2022\/01\/Foto-Doug-scaled.jpg","type":"image\/jpeg"}],"author":"Douglas Souza","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Serena McCarville","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/blog.esmt.berlin\/voices\/understanding-bias-to-make-better-business-decisions-in-2022\/","url":"https:\/\/blog.esmt.berlin\/voices\/understanding-bias-to-make-better-business-decisions-in-2022\/","name":"Understanding bias to make better (business) decisions in 2022 | ESMT Berlin Blog","isPartOf":{"@id":"https:\/\/blog.esmt.berlin\/voices\/#website"},"datePublished":"2022-01-14T09:06:48+00:00","dateModified":"2023-03-21T13:58:18+00:00","author":{"@id":"https:\/\/blog.esmt.berlin\/voices\/#\/schema\/person\/df041d594a01cfa64cfea8bdb9b83b3d"},"description":"Understanding how bias guides our decision-making process and adapting\u00a0to the context around us is crucial to\u00a0improving\u00a0and managing an organization.","breadcrumb":{"@id":"https:\/\/blog.esmt.berlin\/voices\/understanding-bias-to-make-better-business-decisions-in-2022\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/blog.esmt.berlin\/voices\/understanding-bias-to-make-better-business-decisions-in-2022\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/blog.esmt.berlin\/voices\/understanding-bias-to-make-better-business-decisions-in-2022\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/blog.esmt.berlin\/voices\/"},{"@type":"ListItem","position":2,"name":"Understanding bias to make better (business) decisions in 2022"}]},{"@type":"WebSite","@id":"https:\/\/blog.esmt.berlin\/voices\/#website","url":"https:\/\/blog.esmt.berlin\/voices\/","name":"ESMT Berlin Blog","description":"Empowering you to create a better tomorrow","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/blog.esmt.berlin\/voices\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/blog.esmt.berlin\/voices\/#\/schema\/person\/df041d594a01cfa64cfea8bdb9b83b3d","name":"Serena McCarville","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/blog.esmt.berlin\/voices\/#\/schema\/person\/image\/6588355d461497cccc3c21e4563365e9","url":"https:\/\/secure.gravatar.com\/avatar\/aceba01973ac9ee3aa3fdc2af039cbd2f6fb57da143f6ed58d04b1a760cf255c?s=96&d=identicon&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/aceba01973ac9ee3aa3fdc2af039cbd2f6fb57da143f6ed58d04b1a760cf255c?s=96&d=identicon&r=g","caption":"Serena McCarville"},"sameAs":["http:\/\/www.esmt.org"],"url":"https:\/\/blog.esmt.berlin\/voices\/author\/mccarville\/"}]}},"authors":[{"term_id":2021,"user_id":0,"is_guest":1,"slug":"souza","display_name":"Douglas Souza","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/441e03e47d50c1a6a1f1f357c6ce1f1128dcbad617d95abe57fda64f900f1036?s=96&d=identicon&r=g","description":"","first_name":"Douglas","last_name":"Souza","user_url":""}],"_links":{"self":[{"href":"https:\/\/blog.esmt.berlin\/voices\/wp-json\/wp\/v2\/posts\/17493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.esmt.berlin\/voices\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.esmt.berlin\/voices\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.esmt.berlin\/voices\/wp-json\/wp\/v2\/users\/508"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.esmt.berlin\/voices\/wp-json\/wp\/v2\/comments?post=17493"}],"version-history":[{"count":4,"href":"https:\/\/blog.esmt.berlin\/voices\/wp-json\/wp\/v2\/posts\/17493\/revisions"}],"predecessor-version":[{"id":21604,"href":"https:\/\/blog.esmt.berlin\/voices\/wp-json\/wp\/v2\/posts\/17493\/revisions\/21604"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.esmt.berlin\/voices\/wp-json\/wp\/v2\/media\/17497"}],"wp:attachment":[{"href":"https:\/\/blog.esmt.berlin\/voices\/wp-json\/wp\/v2\/media?parent=17493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.esmt.berlin\/voices\/wp-json\/wp\/v2\/categories?post=17493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.esmt.berlin\/voices\/wp-json\/wp\/v2\/tags?post=17493"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blog.esmt.berlin\/voices\/wp-json\/wp\/v2\/ppma_author?post=17493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}