Corporate professionals and entrepreneurs aren’t immune to unconscious biases and cognitive distortions. After all, the same thinking patterns that drive our everyday behaviors also carry over into our work and influence our decision-making.
As Andrew Campbell, co-author of Strategy at the Corporate Level, wrote in the Harvard Business Review, “The daunting reality is that enormously important decisions made by intelligent, responsible people with the best information and intentions are sometimes hopelessly flawed.”
Fortunately, there are systematic ways you can reduce the risk of mistakes. The first step is learning to recognize thinking errors in the first place. Here, we highlight three cognitive distortions that can damage your business strategy and explain how to circumvent them.