Opportunity Cost Neglect
A cognitive bias where individuals overlook or underestimate the cost of opportunities they forego when making decisions.
148 topics found for
“strategic decisions”
Cost-Benefit
An analysis comparing the costs and benefits of a decision or project to determine its feasibility and value.
Moneyball
The practice of using data analytics and metrics to make informed decisions, focusing on measurable outcomes and efficiency rather than intuition or traditional methods.
Irrational Escalation
The phenomenon where people continue a failing course of action due to the amount of resources already invested.
Design Strategy
An approach to design that aligns design activities with strategic business goals, ensuring that design contributes to overall organizational success.
Product Council
A group of stakeholders that regularly meet to discuss and guide the development and strategy of a product or product line.
PESTEL Analysis
A strategic framework used to analyze the external macro-environmental factors affecting an organization: Political, Economic, Social, Technological, Environmental, and Legal.
Anchoring
Anchoring (also known as Focalism) is a cognitive bias where individuals rely heavily on the first piece of information (the "anchor") when making decisions.
Program Manager
A professional responsible for overseeing and coordinating multiple related projects to ensure they align with organizational goals and deliver strategic value.