All entries for Friday 20 April 2012
April 20, 2012
Ways to avoid bias in decision making.
Making a robust decision is always surrounded with the fear of being bias. So this needs to be resolved in order to get to robust decision. How can this be done ?
After having a deeper look into the literature as well as practical examples I have learned the following strategies.
1) Self awarness is the first step in order to correct our own biases. This will help us to get confidence and can help us to explain others how not to be biased.
2) Examining in detail the data we have, the assumption we made, as well try to use statistical data to solve the problems
3) Probability plays an important role, where we generally get confused between different probabilities but understanding probability well will help in taking robust decision.
4) Using alternative strategies to view the problem as every coin has two sides in the same way every problem can be solved in different ways.
Hence there are many techniques to avoid biases. But I have never used it before, and now that I have learned it I would surely take into consideration as this direclty affects our decision making.
Knowledge management is it new ?
After going through KM process or steps where it says:
I started thinking have I used this before ? But as you all know the answer was yes. We all are into learning process from when we are born. No one knows everything when they were born. Hence we are following this process since we were born, but not realised. A perferct example is School: Day starts with Professor giving lectures on topic and we take notes as well have some reference book. We used to write answers to the question as well as store it. And at the time of exams we used to apply it on paper. But this was uptil an extent.
But as we grow older the situation changes, every thing needs to be taken care off and if we are working(employee)then life gets more hard. Every bit of information needs to be stored as well distributed properly among the other employees to make them apply it properly. So just the level of knowledge has increased but the process is same. So i think is managing knowledge is not new. What do you think ?