How to Formulate a Team Strategy without BIAS: Global Challenge

No matter the industry, every team needs a strong strategy to reach its goals. Formulating a successful strategy, however, is often easier said than done—especially if not given the proper attention and effort.

According to research outlined in the Harvard

Business Review, 85 percent of executive leadership teams spend less than

one hour per month discussing strategy, and half spend no time at all. The

research also reveals that most employees don’t understand their company’s

strategy.

It’s no wonder, then, that 90 percent of businesses

fail to meet their strategic targets. Organizational leaders must ensure the

company’s goals are strong and that the plan to reach them is purposeful,

executable, and agile. Formulating a successful business strategy is a skill

that has the potential to propel your organization forward. Yet, it can be

difficult to know where to start. While taking decision biasing plays a foremost

role. It’s really fascinating to know the inherent nature of human to

BIAS.

Taking part in the strategic planning process forces you to examine and explain why you’re making each decision and back it up with data, projections, or case studies, thus combatting your cognitive biases. A few examples of cognitive biases are:

• The recency effect: The tendency to select the option presented most recently because it’s fresh in your mind
• Occam’s razor bias: The tendency to assume the most obvious decision to be the best decision
• Inertia bias: The tendency to select options that allow you to think, feel, and act in familiar ways
• Confirmation bias: The tendency to only pay attention to information that supports your viewpoint

Combating biases in strategic decision-making requires effort and dedication from your entire team and can make your organization’s strategy that much stronger.

There are few solutions to it, we can follow:

How do you address bias in decision-making?

• Consider Positive And Negative Implications.
• Align Intentions With Core Values.
• Understand What Employees Are Thinking.
• Create A Decision Matrix To Locate The Bias.
• Consider What Is Driving The Decision.
• Demonstrate Your Openness To Feedback.

In @Nokia the open, fearless and empowered is adopted in every thread of organization value. Which makes all Nokian proud feeling.?