Когнитивни пристрастия: същност и влияние в бизнес среда
Cognitive biases: nature and impact in business environment

Author(s): Irina Topuzova
Subject(s): Social Sciences, Psychology, Organizational Psychology
Published by: Международно висше бизнес училище
Keywords: cognitive biases; decision-making; entrepreneurial burnout; business environment
Summary/Abstract: The problem of cognitive biases and their detrimental effects in the organisational context has become increasingly popular today, given the prevalent external factors such as aggressive competition, limited resources, and "information pollution." These factors, in combination with personal cognitive "distortions ", are significant predictors of entrepreneurial burnout. This article provides an overview of the leading theoretical perspectives that clarify the nature and significance of the concept of "cognitive biases" or "cognitive tendencies". The evolution of the term and the various types of "cognitive biases" presented in Buster Benson's categorical model are discussed. The role and practical implications of "cognitive biases" in management and entrepreneurship are analysed. The relationship between "cognitive biases," as a systematic model of deviation from norms or rationality in assessments, and the various tasks and functions of management and leadership, including decision-making, risk perception, opportunity evaluation, and more, is explored. Possible solutions, strategies and techniques for managing and reducing the impact of cognitive biases in the business environment are discussed.

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