The purpose of this article is to discuss several key cognitive biases and their effects on decision making within strategic innovation management as well as how to minimize their effects so that team members can contribute optimally to the fuzzy innovation process. They are essential in understanding and managing appropriately to ensure your innovation outputs are most suitable to your challenges and problems identified, rather than being decided upon by instantaneous emotional instinct without objective reflection. Our brains have evolved over two hundred thousand years and they operate in much the same way today, despite our enormously different and fast-changing environment. The World is vastly complex and humans have never before been bombarded by so much information on a daily basis. We cannot process all the information around us, therefore we must resort to mental shortcuts to make decisions quickly and effectively. Biases can often result in accurate thinking, but also make us prone to errors that can have significant impacts on overall innovation performance as they get in the way, in the modern knowledge economy that we live in and can restrict ideation, creativity, and thinking for innovation outcomes.
Simple applications of lateral thinking … for life
Lateral thinking - definition, examples and importance - F4S
Personal Skills:. Subscribe to our FREE newsletter and start improving your life in just 5 minutes a day. How is it that some people always seem to be able to generate new ideas and think creatively, and others seem to struggle to do so? The answer lies in their ability to use creative thinking. Creative thinking is the ability to look at things differently, and find new ways of solving problems.
Dragons’ Den: How to start a business?
One of the key requirements for entrepreneurial success is your ability to develop and offer something unique to the marketplace. Over time, entrepreneurship has become associated with creativity , the ability to develop something original, particularly an idea or a representation of an idea. Innovation requires creativity, but innovation is more specifically the application of creativity. Innovation is the manifestation of creativity into a usable product or service.
Graduates seeking their first marketing role right now could feel justified in cursing their bad fortune. As the economy takes its biggest downturn in a generation, what lessons can be learned from those who started their careers during the last recession? The global financial crisis — sparked by risky banking practices and an implosion of the subprime mortgage market in the US during to — saw many jobs lost and careers upset. It was particularly tough for those entering the world of employment for the first time.