Thursday, 3 September 2015

Experience & biases attached to it

In one of my earlier blogs, talked about undue importance being given to ‘Experience’ while ascertaining relevance of a person to a job. It is being proved time & again by youngsters today who are yet to graduate out of their colleges that it is not experience but certain mettle which counts more. Some, at this point may get into arguments with some numbers about a large number of start-ups failing to prove that experience is more important, but so is the case with ‘experienced CEOs'.  Count, how many CEOs do give back to their shareholders continuous better than average returns. At the same time, even I go to the extent of not denying peeved impact of experience on many decisions, where we feel, right decision are taken due to having some experience. But experience alone is not what makes one successful. 

Observations around and top of that research in the field of Neuroscience has made considerably clear that experience has its own biases which effect decisions as equally bad as taken by a novice. Although, further research may give us some more insight about our brain functioning and decision-making ability in near future.

Research studies, so far had proved that experience has much little importance to play in our decision making ability, again due to human biases. Errors & judgements prima-facie effect our decision making. This happens due to two hard-wire processes for decision making. One, where brain assesses what’s going on using PATTERN RECOGNITION and how does a person react or ignore to that pattern/ information. Other is EMOTIONAL TAGGING that reveals that decision making takes effect due to emotional tags that are stored in our memories. Biases of what you did last, effect decision today.

Both these processes are very important for human beings to take decisions but due to inherent challenges, these processes mislead us. For example pattern recognition misleads a person while dealing seemingly with familiar situations where brain assumes being taken right decisions, but that is not the fact. So, is the case with Emotional Tagging, whereby people taking decisions, do give un-due importance to their experience or emotional tags.

It can be merit out of the fact that an issue arising at different times, needs different solutions, keeping in view circumstances & facts; and not simply copy-past of someone’s success on the issue in the past. Many times, you see professionals failing due to their emotional tags or pattern of the past being pasted in current work-related challenges. Try relieving one's own past and looking at the situation in right & new perspective is what is more desirable.

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