Anchoring Bias

Recall Time  

Recall the instance when you went out to shop for something/ purchase something and ended up paying a price that was purely guided by the initial price set/ floated by the sales person; also the time when all our negotiations were around that initial established value over which we had no control whatsoever !  

Recall the instance when you went for that important salary negotiation and ended up discussing about it totally based upon your previously drawn salary. Alternatively, recall the instance, when as a freelancer,  your commercial negotiations for an assignment was being discussed and getting finalised based on some arbitrarily  assigned value/ number/ criteria !

Remember - the discounted sale where you were led into buying a lot of stuff (much beyond what your budgets/ pockets could afford) and that too with the "feel good" factor that the items were bought on a heavily discounted price vis-a-vis the initial price (Sales Price) ! 

Well, we could go on recalling plenty of similar instances as mentioned above, where a particular piece of information, already established, guided our decision and this piece of information or value is what triggered the bias known as "Anchoring". The point to note here is that this type of bias could creep in any area of our life and lead us into taking irrational decisions which is clearly highlighted by the examples quoted above.

Definition 

Anchoring Bias is a cognitive/ psychological phenomenon where people get influenced and made to rely too heavily on the first piece of information or value that they come across (related to the context). Much like the way, when a ship drops its anchor and thereafter all the subsequent movement of the ship is around that anchor point, in the same way, when we get affected by "anchoring bias" , all our subsequent judgements/ decisions are totally based on/ around the initial piece of information received by us.  

The simplest indication that we have fallen trap to the "anchoring bias" is when we find ourself  adjusting our judgement and decision around some available information or established value and not based on any logic or appropriate information.

Real Life Application/ Occurence 

• Marketers use anchoring technique very heavily to influence customers in some of the following ways
• Discounted price vis-a-vis Original price
• Annual package vis-a-vis Monthly package for subscription to magazines, channels, online tools, and similar stuff
• Combo deals on various items in departmental stores and other places
• Upgrades on gadgets, appliances, etc. offered on installment basis

• For Human Resource Professionals, anchoring bias comes into play during 
• Hiring where "last drawn salary" becomes the anchor
• Performance Appraisal/ Evaluation, when relative performance is set as an anchor
• Negotiation, when we let the other party set the anchor

• Healthcare when the first diagnostic establishes the initial impression and influences the subsequent line of treatment for the patient inspite of new/ other alternatives being available 

• Not opting to treat mental health issues because of stigma attached with them in many cultures  

Overcoming Anchoring Bias

• Don't always believe the "first impression" or your"gut reaction". Be prepared to look beyond these
• If need be, reset the existing "psychological anchor(s)"
• Whenever possible, set your own anchor and be flexible to adjust if and when the need arises
• Gather more facts, figures, supporting evidence and past history before taking the decision
• Don't take a decision when under stress. Whenever needed, go slow and take your time to decide. 

So, whether you are making a purchase, negotiating salary, pushing for promotion or planning to undergo treatment, don't let the first impression fool you into relying on the initial information / value for taking decision. Just remember that there's more to it than meets the eye ! 

Theme Reveal for #BlogchatterA2Z

Very excited to be participating in the A2Z challenge by Blogchatter once again. There couldn't be anything more exciting than being a part of like minded bloggers and churning out blogs daily (and that's what a blogger always yearns for :) ).

Much like the first time i participated in the challenge in 2017, this year also i attempt to pick up a theme that would help the readers become a better version of themselves.

This time my theme is "Cognitive/ Psychological Biases in Humans".

About the Theme of "Cognitive / Psychological Biases in Humans"

As humans, we are very susceptible to influences that mar our judgement and prompt us to take irrational decisions. One of the definition says that bias is "a particular tendency, trend, inclination, feeling, or opinion, especially one that is preconceived or unreasoned". So, during all those times when we sense that we are leaning in favour of something without any sound reasoning or we are being pulled to act in a particular manner, which doesn't appear very logical, it's because we are suffering from some bias in our thinking and behaviour. These biases can have a strong impact on our social approach, our decision-making and even our beliefs and so it becomes important that we address these biases in our personality and become more rational in our thinking.

For this challenge, i.e. from April 1 till April 30, 2019, I will be posting about a different bias everyday. I would try my best to delve into the bias and talk not only about the symptoms, their impact but about solutions as well. Wherever possible, i will mention about the mitigation strategies as well.

Hope the readers find the post interesting and useful :) !   

Playing Buddha At Work

Think about Buddha, and a serene, calm, meditative and enlightened image flashes across our mind. But Buddha isn't just a reference to an enlightened soul, it's so much more - it's about a way of living, a process, a disposition towards life and events. The more deep we dig into what Buddha denotes, the more we know that Buddha has many connotations related to mind, body and soul. Among the many connotations, the two I talk about here are - 1. An Awakened One, and 2. An Enlightened One. It's appropriate to mention that Buddha is not only referred to in context of spiritual upliftment but holds  an equal relevance in our mortal presence as well i.e. in our personal and professional sphere. In fact, never has there been a greater need to play Buddha at work than now, especially when chaos, commotion and confusion rule the workplace and just too many things seem to occur or pass us by in the "moment". All this leaves us completely disconnected with the present and to ponder over the following:

1. Why do i need to play Buddha at Work ? What if i don't ?
2. What if i ignore or miss the "moment" ?
3. How, playing Buddha, would help me at workplace ?

Let's try and answer the above

Defining a typical workplace in today's VUCA (Volatile, Uncertain, Complex, Ambiguous) environment is quite simple, obvious and easy. It would suffice to say that "Emotions running high and Camaraderie running dry" is what symbolises a typical workplace today and such a workplace is totally bereft of energy, excitement, enthusiasm, collaboration, productivity and results. 

It's well known that an organisation or workplace is all about people therein and creating a good workplace is an outcome of  building it (workplace) on the bedrock of relationships, which in turn is  built on the bedrock of positive interactions. Ever imagined, how every moment provides us with an opportunity to impact our interactions (positively or negatively) ? - by way of the small but consequential things we do during that moment, like the decisions we make, chances we take, collaboration we enter, work we delegate and the appreciation/ reprimand we offer.  Each of these interactions (with self or others) either makes or mars our chances of success and growth in the workplace, based on how we "involve" with the moment. Playing Buddha and engaging with the moment is a sure shot way to ensure that these interactions lead to success and happiness for us.

Now, moving to the most relevant piece - How to prepare ourself to play Buddha at work ? Well, ironically, the answer is much simpler than anyone could envisage and it's all about incorporating the following four fundamental elements in our every interaction, till it becomes a part of our DNA. Let us look at what these four fundamental elements are

• Understanding - Before starting to play Buddha, it makes good sense to gather an understanding of the same. Among the many connotations, one that best fits in the context here is "being an awakened one". Being awakened enables one to recognise the opportunities that exist in every occuring moment and capitalise on them in a productive way. Also, an understanding of the fact that each moment and each interaction is life defining for us makes it all the more imperative for us to build an understanding about expectations from us when we play Buddha. 
• Acknowledging - Addressing a situation is possible only when we notice it happening. Once acknowledged, we actually start to feel the moment and the interaction occuring therein which helps us to avoid taking the moment and the interaction lightly and not mess it up because of our oversight or inability to observe things closely.  
• Appreciating - Affirming (saying YES) and Approving (being OKAY) the moment and the interaction occuring therein is what Appreciating is all about. This is the step that prepares us to take constructive and productive action on what is occuring/ happening and that too without being judgemental or biased. 
• Acting (Taking Action) - This is where the rubber meets the road and every element imbibed by us is put to test against reality, comprising of the actual moments and the interactions happening in those moments. The actualisation of the intent of playing buddha happens here.  The outcome of this element is solely determined by the intent with which the other three elements have been imbibed. The foundation laid out by the other three defines whether this element will catapult us to success and productivity or push us down in the dungeons of failure and frustration.    

In a nutshell, the golden rules to play Buddha at work could be summarised as

• connect to the self and develop realisation of what's happening inside 
• connect to the moment, acknowledge it and accept it
• deal with the moment in a productive and constructive was, by being non-judgemental and unbiased  

So, always remember that "Playing Buddha is all about playing the moment well"

N.B : Image source: https://tricycle.org/magazine-issue/winter-2018/

Winning the Game of Life !

Courtesy: Google Search

When life hands us disappointment, failure, downturn and like, It's an indication that the time is ripe for some self-reflection and to ask ourself - How well are we playing the game of life and whether we are adequately equipped to play and win in this tricky GAME of life ?

With its uncanny nature and all the idiosyncracies, life always leaves us guessing about what's coming next. The unpredictable and uncertain nature of life never allow us to gain a grip over things and we tend to lack proactivity in addressing the challenges that life throws at us. Amidst all this, life still rolls on and leave us gasping to catch up with its' speed and pace. Though we can never be hundred percent prepared and equipped to deal with the twists and turns in life, but we can still manage to beat life at its' own game if we develop an effective strategy.

The strategy to win is plain and simple - incorporate in our repertoire of daily living, the elements of clarity, purpose and action which can effectively negotiate the after effects of unpredictability and uncertainty that life regularly poke us with.

Decode the acronym GAME, and voila, we arrive at 4 key elements for our survival kit in this VUCA (Volatile, Uncertain, Complex and Ambiguous) impacted world. Let's find out what these 4 elements are :

• G for GOALS - Who wants to keep moving in life without reaching anywhere ? With the exception of a rocking chair (pun intended), I am sure none us wants to live like that - living in a haze of confusion and be lost in our life, achieving and accomplishing nothing. This is where GOALS play the saviour for us by providing the much needed clarity, both in terms of where we are headed and where we intend to reach. Goals bring purpose to our life and act as a springboard to propel us to greater heights of success. Establishing goals are mandatory for us if we want to succeed and accomplish our dreams in life. Goals work as milestones and checkposts, keeping us focused on the way forward. A life without goals is like a meaningless meandering that we engage in but with goals, it becomes a purposeful quest for bringing meaning to our life.

• A for ATTITUDE - To win the GAME of life, it's important to understand how we approach it - either we can see opportunity in every challenge and make the most of life or see challenge in every opportunity and forever be stuck in life. To win the game of life, it's essential to carry an attitude of optimism, possibility and action because dark days outnumber the bright ones in life and if we can keep our spirit up during tough times then life is a song and then there's no stopping us. So, let's build an attitude that provides us altitude.
  

• M for MOTIVATION - Consistency is the hallmark of a winner. When we talk about the  game of life then progress, even if it is small, holds the key to success. This in turn depends on our type and level of motivation. Motivation is that inner urge which keeps us going towards our goal and more big and distant the goal is, the more the need to build sustained motivation in us. The main aspect of motivation that we need to work upon is not whether we are  motivated or not, because we are always motivated for something but rather about whether we are appropriately motivated, in alignment with our life's purpose and goals. So, if we plan to win the game of life, then we need to develop and sustain motivation that's directed towards our goals in life and not away from them.
  

• E for EMOTIONS - Talking about the hyper connected world that we live in today, it is our social identity that's defining our success so building a strong and sustainable relationship with our social connections, networks and groups becomes very crucial. Emotions play a major role in building a long lasting relationship, both with self and others and winning the game of life becomes much easier. Emotions is perhaps the most less understood among the 4 elements being discussed and if we have to thrive on relationships/ connections then we need to start building on our emotional skills. A highly developed emotional skill is all about a better awareness, understanding and application of emotions, in self and others. Once developed, this skill renders us more balanced, in better control and in a better frame of mind to take logical decisions. 

  

The Lost Connection

When did we last check the “likes” on your social media posts?

When did we last send/ receive “Add friend/ connection” request?

Most of us, in all probability, would answer “not too long back” to the above 2 questions.

Doesn’t the above clearly highlight our “obsessed” self and also indicates that to create space for ourselves in this digital cosmos we must take an oath of allegiance to “Attention” and “Connection”.  Quite characteristic of this cosmos (digital) is the chaos created by our craving for “popularity” and “likes” in our bid to remain visible and relevant in the parallel digital social world.     

Akin to the hyperconnected nature of the digitally connected world (Internet), our lives also, in this digital world, thrive on the ability to network so as to derive the best from this gigantic superhighway of (social) communication. The hyperconnected world characterised by WWW, Internet and various Social platforms has broken barriers of communication to such an extent that it just takes 3-4 hops to establish any new connection. Somewhere, our existence and relevance also, now seems to be substantiated only by the number of connections we have. “Recommendations and Referrals” has become the new currency of professional success and CNF (Connections, Networks and Friends) is assumed to be the panacea for all that we seek during our existence in this digital world.

But in all this hype about more connections, expanded network and more friends, we seem to have let go of the most important connection i.e.  the connection with the self. Agreed, the CNF (Connections, Networks and Friends) help us achieve and accomplish a lot but at what cost? The price we pay is huge, in terms of compromising on our most robust support system - our “inner self”. No doubt, man is a social animal and needs to connect with others for survival, but hasn’t this over-reliance and dependence on others gone too far under the garb of being trendy and to align with the needs of social platforms?  For few, it provides an opportunity to mask their inefficiencies, incompetencies and thrive solely on their skill of “networking” whereas for others, the competent ones, it lands them into this so called “popularity” rat race, where the focus is on maximising the likes, and incrementing the CNF (Connections, Network and Friends) at the fastest possible pace. A closer look at the downside and we can realise the intensity of the impact this over-reliance has on our personality by way of severely denting our self-esteem/ self-worth and also derailing us from our quest to evolve and grow, just to mention the key ones.

Isn’t it time to ponder whether disconnecting with the self is a reasonable price to pay for the paradox we are living, where what we are seeking is exactly what we are found wanting in ! The more attention we seek through CNF (Connections, Network and Friends), the less attentive we tend to be becoming; the more connections we are adding, the less connected we tend to be becoming. The need, at this point, clearly is not to get lost in this illusionary world of virtual existence where the crisis of losing our real identity looms large but to connect with our inner self, where the real world resides. This connection with the self may definitely turn out as panacea to the ills and after effects of digitally obsesses living and we can’t afford to let go of this crucial “self-connection” if we plan to smoothly surf this gigantic superhighway of information and connection.

The following few steps could easily help us establish and sustain the “self-connection”

·       Building regular self-time in our routine to focus on self-reflection

·       Practising mediation, mindfulness or any other similar practice to develop acceptance, acknowledgement and observation

·       Observing digital downtime to experience living in the “real world”

·       Replacing digital usage time with any hobby that helps build self-esteem and self-confidence

·       Practising an agenda driven digital consumption to avoid digital overuse

·       Practising independent decision making wherever possible to develop self-reliance and self-efficacy

·       Practising Minimalism and Essentialism to help develop the habit of “living with less”

Let's realise the potential that lie within us and harness the power of self-connection to beat the blues of obsession filled digital living ! 

Seek the "Bright Spot" in Life !

Image Source: www.larryraymonds.com

Do you remember the biggest turnaround of your life ? - That instance when you came out triumph even though the odds were stacked against you and everything was going amiss around you.

Ever wondered how you managed to turn it around in your favour ? What triggered the turnaround, that too at a time when you had lost all hope ?

You may reflect and come out with plenty of reasons but the most crucial would be how it all started - that mind shift which occurred that propelled you to look at the situation with a more positive intent and perspective. Amidst all the turbulence and tribulations, the moment you started seeking the "bright spot" is when the change started to happen for you. And this change is what resulted in turning your life around for better.

Whether the going is smooth or rough, there are 2 key things about life that we always need to remember -

1. Life is unpredictable and will always keep springing surprises and
2. The basic nature of life is "forward".

Given the above understanding about life, the only way to deal with the vagaries of life and keep momentum intact in life is to always look for the "bright spot", even in the worst of the scenarios. Whether you call it "being optimistic" or something else, all that matters is not to get bogged down by unfavourable situations and go into a "freeze" mode, but to figure out something positive and worthwhile in every adversity and keep growing in life.

The phrase "Every cloud has a silver lining" is just so apt to explain seeking the "bright spot". There's always something good you can find in any situation, something that cheers you up and tells you that

• Life is not about any one event or incident but rather about entirety; the realisation that life is a composition of all the events and incidents that have occurred in your life till now 
• Life is not about the experience per se but about the learning it provides to help you become much wiser for future
• Life is not about failure but about the feedback that every failure provides so that the mistakes are not repeated

Seeking the "bright spot" becomes a challenge if you start observing things in the shorter context of what is happening. The best way to overcome this challenge is to start observing things in the larger context of how less worse (if things are dismally bad) or better you could make it because the "whole is greater than the sum of its parts". So, start finding that "bright spot" that could turn it around for you - maybe there's a learning you could derive, maybe there's a bigger damage you could prevent, maybe there's a change of course you can identify, maybe there's some other realisation that could dawn on you.

Once you have sought the "bright spot" then you can be rest assured that life will only be as bad as you would allow it to be because you would have then seized the control of your life also. So, never get impacted by the bad things that may occur in your life at times (and may get even worse) because you still hold the control for turning the tide in your favour.

Live life to the fullest and next time you find yourself in a tight spot, just seek the "bright spot" and bring about the desired turnaround in your life. You can always create your best possible life if you don't sweat about the small stuff and just focus on the beauty of making your life much more worthwhile !    

What's Your Doorway To Life ?

Haven't we been spectators to our own life many a times when it spirals downwards, roller coasting downhill ? Those days when everything appears challenging and things just seem to go from bad to worse, when reaction overtakes the response and the external forces appear too many to handle and  then we assume that the only option left with us is to "confront" and the only thought that crosses our mind is to wait for things to get better (only if they will).

The events in life are never in our control and they may occur anytime, anywhere and in any form. Quite contrary to the events in out life and much against the popular belief, the outcome of any event is never pre-defined and is always under our control. Just a case in point - consider the day that starts off with a minor irritation but ends up with an exhibition of full blown anger. Few things that may still have gone in our favour also go the other way. Life seems like slipping away from our hold/ grip and and we are left in the lurch wondering what went wrong. The blame gets passed on to the events that occurred which catapulted a manageable day into an unmanageable one. 

All this while when the reasons were being sought to pass on the blame, a little introspection could have worked wonder. A little thought to the following could have brought back the control of the day and of life. 

Ask yourself - What's controlling my life and what's determining the outcomes in my life ?

And when we ask yourself the above, let's not settle for the most convenient and easy answer which is "external events". If that would have been the correct answer, then just about everyone would have been struggling to control/ manage their life. How is it, then, that so many still seize control of their life when they sense it slipping away ?  

The mantra is quite simple - "Identify your doorway to life !", which means finding out through what lens do we view life. Simply put, the doorway defines our attitude to life and the values/ philosophy we live by. Though the day may not begin as per our expectations many a times and we may face unfavourable situations, events or circumstances but still we can end our day well if our doorway is of positivity, hope, trust, faith, teamwork, and anything that makes our life better in some way. 

Getting perturbed by unfavourable events is easy and this can play spoiler in our unless we build a doorway on the foundation of trust and confidence - trust that things may seem bad right now but will surely get better in future, so let me focus on what this experience has to teach me; confidence in self that I possess the requisite capability and capacity to turn it around by holding onto enabling and empowering positive thoughts and actions.  

Always remember that we can seize the control of our life whenever we want to and nothing external can determine the outcome in my life except myself. Once I imbibe this, all I need to do is to build a doorway that's always empowering for me, helping me to accomplish more and evolve.

So, let's do whatever it takes to build a doorway that will even inspire the Universe to conspire and help us attract peace, love, harmony , success and happiness in our life !