![]() Politically speaking, in an organization, strategic misrepresentation can also be witnessed easily. When compiling a set of outcomes for a project or plan, one party can purposely increase the number of deliverables or strategically underestimate the costs of the proposed scheme, pre-determining and quite likely also overestimating the potential clients' benefits. This advantage can be exploited when one party or organization knows less information than the other or is relying on the other organizations' information for their own benefit. Through various factors may it be political, economic, social or all three cohesively implemented in unity, strategic misrepresentation is often used to seize a potential advantage on another company. In corporations, whether largely publicized or not strategic misrepresentation occurs and is almost inevitable. This increased satisfaction boosts continual drive for success, even with mishaps, the mentality of individuals has been changed to a higher level of output and thinking.įigure 1: Comparing the relationship between Strategic misrepresentation (deception) and optimism bias (delusion) through factors of knowledge and corpooration and governmental power The study found that when individuals succeed, they attribute their success to their personal traits. Not only are potential higher target reached, but self-satisfaction is drastically increased no matter the outcome as noted by Psychologists Margaret Marshall and John Brown's theory of Optimism Bias, presented by Associate Professor of Cognitive Neuroscience Tali Sharot in a TED talk. Although this sounds negative if not met, increased expectations help people in a corporation and the business its self, grow considerably as the company will continuously strive for potential new feats. An over-confidence in the desired outcome would increase expectations of an individual or company as it is falsely made to look that it is easier to achieve. However, an increased Optimism Bias can be seen as quite a positive aspect of a business plan. Optimism bias can be both positive and negative, for example, an overoptimistic overall outcome of a project's benefits can lead to poor planning, budgeting and other factors in the early stages of the project portfolio. All these factors significantly contribute to the bias, potentially skewing judgement on a project. ![]() Factors that contribute to Optimism bias is if an individual or corporation has a more informative view of the desired end state of the project, the cognitive mechanisms in use, the information the individual or company has to begin with and the overall mood of the project scope. This bias refers to the belief that there are reduced negative externalities about a specific situation. Optimism bias by definition is a form of cognitive bias.
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