We individually worked on the Organizational Behavior Simulation: Judgement in Crisis. In the simulation, I was in the position of product manager at Matterhorn Health and was presented with the high inaccuracy rates of GlucoGauge, a device that can be used to monitor the blood levels each day with ease and comfort. I have done research about the background information and determined that the problems associated with inaccurate readings using the monitor were due to consumers misusing the device in the field.
This exercise helped me to realize that I meet biases everyday in my life, it’s the same as with problems, to solve it, first of all, I need to identify it. We have learned confirmation, sunk-cost, anchoring, and framing biases.
There are ways to overcome these biases. Everyone should remember that sunk cost cannot be recovered. I can improve myself by tracking my investments (time, money, or effort). I must be able to stop my losses when the numbers go down and down. I should allow myself to make mistakes and admit them. This will help me to be more “stable” if something goes wrong, and it would definitely save my energy. To work on overcoming this bias, I will firstly define my vision, and make the decision based on it. I will “put” my vision into a detailed format, so I can reference it. To overcome anchoring bias, first of all, I should ask questions that may reveal this bias, then I should consider history to make the decision. This will have an impact on my critical thinking since I need to analyze the situation more deeply. And better critical thinking leads to better decision making. To overcome this bias, I will define the weaknesses of my mind and anticipate biased evaluation. To overcome framing bias, I need to reframe the problem. In other words, if the message is framed as a gain then reframe it as a loss and otherwise. I should see different perspectives of the problem, and having people around me that can help me with it is a one of my life goals. Seeing various aspects of the issue will improve my thinking and make me more adaptive to life challenges.
The most challenging decision for me was to identify how many smartphone-using customers wait a month between syncing their readings. Anchoring bias occurs when people rely on the first available information they find when making decisions. Information that was given to me is that one doctor estimated about 10% of their smartphone-using patients only sync readings monthly, for example just before an appointment. I remember that my first thought was about 50%, but then I have also started to think that it is too far away from the number given to me. My final answer was 47% based on the real life experience. I have almost displayed an anchoring bias by refusing my first thought and relying too much on pre-existing information, but then I seeked for additional information that helped me overcome this bias.
A real-life scenario that mirrors the conditions of the simulation is launched in August 2016, Samsung’s Note 7 device was marketed as a large-screen top-end device and positioned as a rival to Apple’s iPhone. But in September, Samsung had to recall about 2.5 million phones after complaints of overheating and exploding batteries. The firm insisted that all replaced devices were safe. I think Samsung handled the crisis quickly, and effectively.