A Recent Article in the McKinsey Quarterly, Present a Useful

question 89

Essay

A recent article in The McKinsey Quarterly, present a useful list of some of the ways that strategic decisions can go wrong because of human shortcomings: 1.Overconfidence; 2.Loss aversion; 3.Champion Bias; 4.Misaligned risk aversion; and 5.Misaligned time horizon
Required: Provide a one sentence explanation for each of the five human shortcomings in decision making.

---

Definitions:

Lateralization

The propensity of particular cognitive functions or neural activities to be more pronounced in one hemisphere of the brain than in its counterpart.

Neurogenesis

The process by which new neurons are formed in the brain, contributing to brain development and plasticity.

Facial Expressions

Visual cues resulting from the movement of facial muscles, often conveying a person's emotional state or reactions.

Natural Selection

A process in evolutionary biology where organisms with traits most suited to their environment are more likely to survive and reproduce.