How the status quo bias affects decision-making inside the company?

Asked on 13.12.2018 in All Questions,   Business,   Sociology.
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One of the types of biases that can affect corporate decision making is status quo bias. According to Samuelson and Zeckhauser status quo bias is when people prefer the current state and tend to resist change. If we experience something every day, we get comfortable with it. For example, if we go to the workplace by bus, we are unlikely to walk there or even change our usual route. We do not want to risk by changing the things. In everyday decisions the risk is small, but still, we tend to stick to the usual way of doing things. We do not want to get out of our comfort zones even being aware that something needs to be changed. Let’s look at the USA gun culture. Since the country’s earliest days,...
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