by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
What is Outcome Bias?Outcome bias is a form of cognitive prejudice against a particular decision or event based on the results of previous decisions or events. Outcome bias result in decisions without adequately evaluating the factors responsible for such outcomes and...
by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
What is the Texas Sharpshooter Fallacy?The Texas Sharpshooter Fallacy, commonly known as a clustering illusion or the hot hand fallacy, refers to the human tendency to analyze outcomes consisting of clusters in a random sequence of events as non-random. In simpler...
by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
What is a Paradigm Shift?A paradigm shift refers to a major change in understanding and in how certain processes are achieved. In business, a paradigm shift often occurs when new technology is introduced which radically changes a goods production process.
by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
What is Confirmation Bias?Confirmation bias refers to a type of bias in which individuals favor information that aligns with their opinions or perspectives combined with a tendency to disregard all contrary information. In psychology, confirmation bias is a situation...
by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
What is Conflict Theory?Conflict theory argues that society, individuals, and groups within social confines interact with one another not on the basis of consensus but on conflict. More specifically, it claims that the society is consistently in a state of conflict,...
by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
What is the Adaptive Expectations Hypothesis?Adaptive Expectations Hypothesis theory states that people adjust their expectations on what the future will be based on experiences and events of the recent past. Rational ExpectationsAdaptive expectation is closely...
