BUS 221 Study Guide - Comprehensive Midterm Guide: Thought Experiment, Main Source, Confirmation Bias
Document Summary
Good decision making, in business as in other aspects of life, must be grounded in a firm understanding of the relevant facts. Important to think critically about what you know, or rather about what you think you know, be(cid:272)ause at least so(cid:373)e of the thi(cid:374)gs (cid:455)ou (cid:862)k(cid:374)o(cid:449)(cid:863) are a(cid:272)tuall(cid:455) (cid:374)ot true. I(cid:374) fa(cid:272)t, (cid:455)ou ha(cid:448)e (cid:373)a(cid:374)(cid:455), (cid:373)a(cid:374)(cid:455) (cid:271)eliefs that (cid:455)ou"(cid:448)e (cid:374)e(cid:448)er e(cid:448)e(cid:374) thought a(cid:271)out. The list of beliefs we hold is endless. And in some cases, the quality of those beliefs matters a lot. Some of those beliefs will affect whether you succeed or fail in business. So it is important to think critically about just what it is that you believe, and about whether those beliefs are reasonable. And that means thinking it through, and considering the e(cid:448)ide(cid:374)(cid:272)e. it does(cid:374)"t make sense to believe things automatically, or by default.
