Managers and entrepreneurs walk past lucrative opportunities all the time, and later kick themselves when someone else exploits the strategy they overlooked. Why does this happen? It’s often because of the natural human tendency known to psychologists as confirmation bias: People tend to notice data that confirms their existing attitudes and beliefs, and ignore or discredit information that challenges them.
Although it is difficult to overcome confirmation bias, it is not impossible. Managers can increase their skill at spotting hidden opportunities by learning to pay attention to the subtle clues all around them. These are often contradictions, incongruities, and anomalies that don’t jibe with most of the prevailing assumptions about what should happen. Here is my own “top 10” field guide to clues for hidden breakthrough opportunities, observed in a wide variety of industries, countries, and markets. If you find yourself noticing one or more of them, a major opportunity for growth could be lurking behind it.
Author: Donald Sull
via Alltop RSS http://www.mbadepot.com/redir.php?id=18031&%3Brefer=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MBADepot+%28MBA+Depot+-+Latest+Content+Added%29 Matt Sileno
http://www.lead411.com/Matt_Sileno_3146962.html The Intuitive Group Inc
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