Essays on Beshear

Leaders as Decision Architects – a Comprehensive Analysis

Decision-making is one of the focal points in contemporary business management. Moreover, the today’s economies are particularly vibrant and dynamic, making it necessary to make the decisions quickly. In their article ‘Leaders as Decision Architects’, John Beshears and Francesca Gino argue that the decision-making context should be substantially modified. In particular, the authors emphasize that all critical behavioral issues, which surround a decision-making process, should be identified, and the factors, which maximize the chances of errors, should be removed. Special attention is laid to the importance of mitigating the impacts of different emotional biases and poor motivation. Generally, ...

Although many determinants are involved in business decision-making, a significant number of strong scholarly arguments confirm the idea that the main underlying aspects in this regard are motivation of the leaders and their cognitive biases (Monahan, 2000). This essay speaks about the key underlying causes of cognitive biases and poor motivation of company leaders, and speaks about potential solutions in this regard. Cognitive bias is a systemic deviation from rational judgment, i.e. a popular cause, which compels people to think and adopt decisions in an illogical way. At the same time, the practice revealed that in some cases cognitive ...