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BA-300: Exam 1 / Block 1 terms (sections 5 &6) Questions and Answers 100% Pass £10.47
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BA-300: Exam 1 / Block 1 terms (sections 5 &6) Questions and Answers 100% Pass
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BA-300: Exam 1 / Block 1 terms (sections 5 &6) Questions and Answers 100% Pass confirmation trap - cognitive bias- influences your choice of which facts to gather and where to look. arises out of trying to reduce uncertainty and simplify their world. - What causes cognitive weaknesses and bia...

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  • January 8, 2025
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • ba 300 exam 1 block 1 terms sections 5 6 que

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  • BA 300
  • BA 300

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BA-300: Exam 1 / Block 1 terms
(sections 5 &6) Questions and
Answers 100% Pass

confirmation trap - ✔✔cognitive bias- influences your choice of which facts to gather

and where to look.


arises out of trying to reduce uncertainty and simplify their world. - ✔✔What causes

cognitive weaknesses and biases?


to become aware of them and incorporate steps into your decision making process

explicitly aimed at reducing their impact. - ✔✔What is the best way to avoid decision

making weaknesses and biases?


get the facts - ✔✔What is the first step in good ethical decision making?


example of confirmation trap - ✔✔"Historically, what percent of mortgages have

defaulted?"


think of ways you could be wrong. ask yourself questions... "how could I be wrong?" -

✔✔how do you avoid confirmation trap?




Emily Charlene © All Rights Reserved 2025. 1

, - consult a broad range of people who have a stake in the decision


- invite input from all interested parties, especially those that disagree with you and

those with the most to lose. - ✔✔How can you reduce the number of consequences of a

decision?


few amount of people. - ✔✔you are more likely to ignore consequences that are thought

to affect...


in a self interest manner- this is because consequences to self are more immediate or

more imminent. Also they tend to chose decisions that are preferable to them over one

that is more just. - ✔✔people tend to make decisions ...


illusion of optimism - ✔✔underestimate potential risks- overestimate the likelihood of

good future events and underestimate the bad.


illusion of control - ✔✔believe that we are in charge of what happens- people generally

believe they are less susceptible to risk than other people are


important consequences- so it is important to recognize this tendency. - ✔✔If managers

ignore risks, they are also ignoring...


confirmation bias - ✔✔tendency to contribute downplaying risk/ the tendency to

attend to information that will help confirm the decision we would prefer to make.




Emily Charlene © All Rights Reserved 2025. 2

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