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Behavioral strategy refers to the application of insights from psychology and behavioral economics to the research and practice of strategic management. In one definition of the field, "Behavioral strategy merges cognitive and social psychology with strategic management theory and practice. Behavioral strategy aims to bring realistic ...
Cognitive strategy. Cognitive strategies are the specific methods that people use to solve problems and/or exploit opportunities, including all sorts of reasoning, planning, arithmetic, etc. Importantly, a cognitive strategy need not be all "in the head", but will almost always interact with various aspects of what might be called the ...
Escalation of commitment. Escalation of commitment is a human behavior pattern in which an individual or group facing increasingly negative outcomes from a decision, action, or investment nevertheless continue the behavior instead of altering course. The actor maintains behaviors that are irrational, but align with previous decisions and actions.
e. Strategic thinking is a mental or thinking process applied by an individual in the context of achieving a goal or set of goals. As a cognitive activity, it produces thought. When applied in an organizational strategic management process, strategic thinking involves the generation and application of unique business insights and opportunities ...
0-316-17791-1. Preceded by. Masterthinker's Handbook (1985) Followed by. I Am Right, You Are Wrong (1991) Six Thinking Hats was written by Dr. Edward de Bono. "Six Thinking Hats" and the associated idea parallel thinking provide a means for groups to plan thinking processes in a detailed and cohesive way, and in doing so to think together more ...
Heuristic (psychology) Heuristics (from Ancient Greek εὑρίσκω, heurískō, "I find, discover") is the process by which humans use mental shortcuts to arrive at decisions. Heuristics are simple strategies that humans, animals, [1][2][3] organizations, [4] and even machines [5] use to quickly form judgments, make decisions, and find ...
Behavioral game theory. Behavioral game theory seeks to examine how people's strategic decision-making behavior is shaped by social preferences, social utility and other psychological factors. [ 1 ] Behavioral game theory analyzes interactive strategic decisions and behavior using the methods of game theory, [ 2 ] experimental economics, and ...
In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options. It could be either rational or irrational. The decision-making process is a reasoning process based on assumptions of ...