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Trigger Strategy
076: Surviving survivorship bias
Sep 25, 2024
Explore the hidden pitfalls of survivorship bias and how it skews our perception of success. Discover the importance of examining failures and cautionary tales in decision-making. The conversation dives into the complexities of theory-driven practices and the need for adaptability in productizing consulting services. Learn about innovative methodologies like estuarine mapping and the challenges of aligning organizational goals. Ultimately, it’s an exploration of how we can navigate biases and improve our strategies.
25:45
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Quick takeaways
- Survivorship bias challenges our understanding of success by emphasizing the need to consider both successes and failures in learning processes.
- Adopting a portfolio of strategies enables organizations to innovate and adapt by exploring diverse approaches instead of relying solely on past successes.
Deep dives
Understanding Survivorship Bias
Survivorship bias refers to the tendency of focusing on successful individuals or companies while ignoring those that have failed, ultimately leading to misleading conclusions about how to achieve success. This bias can result in the misconception that replicating the decisions of successful entities guarantees similar outcomes, forgetting that numerous others may have tried the same strategies and failed without any acknowledgment. An example highlighted is the academic file drawer effect, where only studies with positive results are published, leading to an incomplete understanding of a topic. Addressing this bias requires a conscious effort to recognize the limitations of observation, prompting the need for a more comprehensive view that encompasses both successes and failures.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode