Have situations like these ever happened to you? (A) You land up at a doctor’s clinic with atypical symptoms that do not immediately threaten your health. The doctor hears you out but rather than adopting a wait and watch strategy, the doctor might ask you to go through a battery of diagnostic tests and none of them yield any results. A few months later, the symptoms vanish on their own. (B) Have you ever made a hasty buy or sell decision driven by unforeseen market movements only to later regret not having a more strategic plan based on long term objective? If any of such incidences have happened for you then you have suffered from the phenomenon of action bias. Action bias is our instinctive drive to act, sometimes when pausing or doing nothing would be the wiser option. Historically, the action bias was beneficial for survival, embedding a preference for activity in our psychology. In addition, an overestimation of our ability to influence outcomes positively and a desire to control our environment also propel us towards unnecessary actions. Instead of a reflexive response, a deliberate evaluation of the outcomes of both action and inaction should be conducted. Today’s story is about action bias. #stories #storytelling #storiesatwork #businessstorytelling #storytelling #PanenkaManoeuver #Football #UEFACup #AntoninPanenka #EuropeanChampionship #ActionBias For more #storiesatwork do subscribe to our YouTube channel which has two playlists – #StoryBank https://bit.ly/WStoryB and #LeaderSpeak https://bit.ly/WLeaderS You can also join our WhatsApp group to get a copy of this video. https://bit.ly/SW_WA_11
