August 2016
Beginner to intermediate
200 pages
4h
English
Content preview from Demand Forecasting for Managers
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10.1 Intuition vs. Cognition
Any visit to the business book section of a local bookstore will reveal plenty of titles that emphasize that managers need to trust their gut feeling and follow their instincts (e.g., Robinson 2006), indicating that their judgment should play an essential role in organizational decision-making processes. The last three decades of academic research have, however, also produced a counter-movement to this view, which mostly centers on the study of cognitive biases (Kahneman, Lovallo, and Sibony 2011). In this line of thought, human judgment is seen as inherently fallible. Intuition, as a decision-making system, has evolved in order to help us quickly make sense of the surrounding world, but ...
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