Heuristics and Cognitive Biases Tool

In brief: In the boardroom, cognitive biases and heuristics, in the form of fast and slow thinking, can be both a help and a hindrance to effective oversight. This tool works to channel these heuristics into productive and helpful methods for overcoming obstacles. When directors are shown examples of cognitive biases and some techniques for adapting their analysis process to account for them, they can improve their decision-making ability.

• Directors will learn about how fast and slow thinking impacts decision making, particularly in the boardroom.

• Directors will be equipped with methods they can use to mitigate some of the negative consequences of fast and slow thinking.

• An overview of common cognitive biases faced by directors is provided.