Cognitive Toolkit

Cognitive Toolkit

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Sunk Cost Fallacy - let's keep digging a deeper hole...
Sunk Cost Fallacy - let's keep digging a deeper hole...
Parts of this article are from my new book, How Many Economists Does It Take To Change A Lightbulb? - check it out on Amazon! And for those located in Asia, I'll be mass-ordering to save on individual shipping costs, so drop me a message if you're keen to get a copy! Have you ever worn an uncomforta
·linkedin.com·
Sunk Cost Fallacy - let's keep digging a deeper hole...
What Is a Sunk Cost—and the Sunk Cost Fallacy?
What Is a Sunk Cost—and the Sunk Cost Fallacy?
A sunk cost is an expense that cannot be recovered. These types of costs should be excluded from decision-making.
·investopedia.com·
What Is a Sunk Cost—and the Sunk Cost Fallacy?
The Sunk Cost Fallacy - The Decision Lab
The Sunk Cost Fallacy - The Decision Lab
The Sunk Cost Fallacy describes our tendency to follow through on an endeavor if we have already invested time, effort, or money into it, whether or not the current costs outweigh the benefits.
the sunk cost fallacy?
·thedecisionlab.com·
The Sunk Cost Fallacy - The Decision Lab
Understanding the Dunning-Kruger Effect and Its Impact on Leadership
Understanding the Dunning-Kruger Effect and Its Impact on Leadership
For most of my career, being blindly confident about things I knew little about was my signature move. My desire to be seen as the expert meant that I moved forward when I had what I thought was enough information to make me a self-described expert.
·linkedin.com·
Understanding the Dunning-Kruger Effect and Its Impact on Leadership
Better decisions: two systems
Better decisions: two systems
“If there is time to reflect, slowing down is likely to be a good idea.”
·uxdesign.cc·
Better decisions: two systems
What is Divergent thinking vs Convergent thinking
What is Divergent thinking vs Convergent thinking
When reading about creativity and creativity techniques like brainstorming, you will almost always hear about two important forms of thinking: Divergent Thinking and Convergent Thinking.
·ideatovalue.com·
What is Divergent thinking vs Convergent thinking
Convergent vs. Divergent Thinking
Convergent vs. Divergent Thinking
Anne Manning demonstrates the concepts of divergent and convergent thinking to inspire new ways to approach problem-solving with your team.
·youtube.com·
Convergent vs. Divergent Thinking
Convergent Thinking Versus Divergent Thinking
Convergent Thinking Versus Divergent Thinking
If you would like to use this video in a training, please check out https://www.visualizelearning.com/ for licensing information. Description: Imagine you have a problem you need to solve and you’re looking for innovative solutions. In this moment, there’s a good chance you’ll choose one of two cognitive approaches. In 1956, the psychologist J.P. Guilford coined the terms convergent thinking and divergent thinking to describe these contrasting approaches. Convergent thinking is linear and systematic while divergent thinking is web-like, focusing on the connections between ideas. Convergent thinking narrows down multiple ideas into a single solution. On the other hand, divergent thinking expands outward by generating multiple ideas, often thinking like a hacker and using materials in original ways. Here, you treat barriers as design opportunities. Convergent thinking tends to be more focused (target) while divergent thinking is more flexible and iterative. Convergent thinking is analytical and focused on what’s best. By contrast, divergent thinking is open-ended. Participants are encouraged to take creative risks. even though some ideas might not work. Convergent thinking asks, “Why?” Divergent thinking asks, “Why not?” While these might seem like competitive approaches, they actually go hand-in-hand. Often, teams will use divergent thinking to generate multiple ideas followed by convergent thinking to analyze and narrow down ideas. Later, they might use divergent thinking to come up with fresh perspectives, followed by convergent thinking, in an ongoing cycle.
·youtube.com·
Convergent Thinking Versus Divergent Thinking
Maslow's Hierarchy of Needs
Maslow's Hierarchy of Needs
Maslow's hierarchy of needs is a pyramid of the needs that motivate people. Individuals most basic needs, at the base of the pyramid, are physiological. Once they have fulfilled these needs, people move on to their safety needs, social well-being, self-esteem then ultimately their need for self-actualization.
·simplypsychology.org·
Maslow's Hierarchy of Needs
Maslow's Hierarchy of Entrepreneurial Needs
Maslow's Hierarchy of Entrepreneurial Needs
“It isn't normal to know what we want. It is a rare and difficult psychological achievement.” ~ Abraham Maslow All great entrepreneurs have this in
·saasacademy.com·
Maslow's Hierarchy of Entrepreneurial Needs
Maslow's hierarchy of needs
Maslow's hierarchy of needs
Maslow's hierarchy of needs, or Maslow's pyramid of needs, was created as the basis for a theory of human motivation by the psychologist Abraham Maslow shared in a 1943 paper.
·sketchplanations.com·
Maslow's hierarchy of needs
The Pyramid Principle
The Pyramid Principle
The Pyramid Principle is an approach to getting your message across by starting with the main idea supported by the relevant facts or arguments.
·sketchplanations.com·
The Pyramid Principle
The Pyramid Principle
The Pyramid Principle
The Pyramid Principle is a framework created by McKinsey to convey information quickly and clearly to busy business execs. Use it to ace your case...
·myconsultingoffer.org·
The Pyramid Principle
The Pyramid Principle
The Pyramid Principle
At McKinsey, one of the lessons I learned was the importance of structured thinking and communication. We often had to crisply present a recommendation to busy executives. Many times, we only had a…
·medium.com·
The Pyramid Principle
Minto Pyramid
Minto Pyramid
Make your communication more efficient and clear.
·untools.co·
Minto Pyramid
Cynefin Framework
Cynefin Framework
The idea of the Cynefin framework is that it offers decision-makers a "sense of place" from which to view their perceptions.
·thecynefin.co·
Cynefin Framework
Cynefin framework
Cynefin framework
Make sense of different situations to choose an appropriate response.
·untools.co·
Cynefin framework
The OODA Loop
The OODA Loop
Commonly known as ‘the OODA Loop’ or ‘the Boyd Cycle,’ this information-processing framework is often presented as a simple cycle of four states: Observation, Orientation, Decision, and Action.
·thedecisionlab.com·
The OODA Loop
OODA loop
OODA loop
The OODA loop is a decision-making model developed by United States Air Force Colonel John Boyd. He applied the concept to the combat operations process, often at the operational level during military campaigns. It is often applied to understand commercial operations and learning processes. The approach explains how agility can overcome raw power in dealing with human opponents.
·en.wikipedia.org·
OODA loop
The OODA Loop and the Half-Beat
The OODA Loop and the Half-Beat
By understanding that speed and timing are complementary, the potential of the OODA Loop can be maximized by focusing it to identify those moments when an opponent is most vulnerable, and providing options to exploit those openings at the most opportune time.
·thestrategybridge.org·
The OODA Loop and the Half-Beat
John Boyd and The OODA Loop
John Boyd and The OODA Loop
John Boyd and The OODA Loop John Boyd’s OODA loops are more than just an esoteric strategic concept; they’ve earned a huge following online and around the world. In this article, I highlight key points about OODA loops along with a glimpse into […]
·psychsafety.co.uk·
John Boyd and The OODA Loop
The OODA Loop: How Fighter Pilots Make Fast and Accurate Decisions
The OODA Loop: How Fighter Pilots Make Fast and Accurate Decisions
The OODA Loop is a four-step process for making effective decisions in high-stakes situations. It involves collecting relevant information, recognizing potential biases, deciding, and acting, then repeating the process with new information. Read on to learn how to use the OODA Loop.
·fs.blog·
The OODA Loop: How Fighter Pilots Make Fast and Accurate Decisions