The Hindsight Bias Affects the Way We View Decision Makers,making

question 59

Multiple Choice

The hindsight bias affects the way we view decision makers,making us more likely to

• A)see their decisions as surprisingly insightful and correct.
• B)blame them for making obviously bad choices.
• C)forgive them for making understandable mistakes in crises.
• D)admire them for handling well those choices we ourselves cannot make.

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Definitions:

Historical Data

Data concerning past events and transactions that are stored and analyzed for trends, forecasting, and making decisions.

Explicit Knowledge

Knowledge that is easily communicated and shared, typically in the form of documents, manuals, or any documented procedure.

Organization's Culture

The shared values, beliefs, attitudes, and practices that characterize an organization, influencing its people and how work is conducted.

Managing Data

The process of acquiring, validating, storing, protecting, and processing required data to ensure its accessibility, reliability, and timeliness.