Descriptive statistics
| Probability | Impact | ||||||
|---|---|---|---|---|---|---|---|
| Step | Distortion | Description | Effect | Mean | SD | Mean | SD |
| Vision and mission | Self-interested bias | Decision-makers prefer to set a certain outcome linked to their personal interest (financial or non-financial) | Decision-makers have preferences for setting a certain initial outcome because of their own personal interest (financial or non-financial) | 3.20 | 0.65 | 3.68 | 0.88 |
| Affect heuristic | Decision-makers minimize/exaggerate negative/positive outputs of something they emotionally like and vice versa | Decision-makers supposed to involve group members through stories and ways they like, without considering others' emotional drivers | 2.96 | 0.79 | 3.16 | 1.16 | |
| Halo effect | Decision-makers consider a person, an organization or an approach successful in a case as successful in another | Decision-makers choose generally successful objectives, instead of suitable ones | 2.28 | 0.94 | 3.56 | 0.98 | |
| Critical success factors | Self-interested bias | Decision-makers prefer to set a certain outcome linked to their personal interest (financial or non-financial) | Decision-makers have preferences for a certain key factor to choose because of their own personal interest (financial or non-financial) | 2.95 | 1.04 | 3.28 | 1.11 |
| Availability bias | Decision-makers take decisions on the basis of a limited range of data without engaging to find other information to get more | Decision-makers choose the key factors to pursue on the basis of a limited range of information they have about the market and the general context | 2.48 | 1.05 | 3.64 | 1.09 | |
| Anchoring bias | Decision-makers take decisions on the basis of an initial range of data without adjusting estimations according to the new information received | Decision-makers choose the key factors to pursue on the basis of an old range of information they have about the market and the general context | 2.12 | 0.88 | 3.64 | 1.29 | |
| Strategies and plans | Saliency bias | Decision-makers tend to adopt a proposal that is similar to a successful one in the past | Decision-makers, to reach the objectives, adopt past successful strategies instead of basing on current objectives and CSFs | 3.68 | 0.63 | 3.48 | 1.24 |
| Key performance indicators | Availability bias | Decision-makers take decisions on the basis of a limited range of data without engaging to find other information to get more | Decision-makers choose the KPIs to adopt on the basis of a limited range of information they have about the company objectives, CSFs and plans | 2.22 | 0.88 | 3.16 | 1.16 |
| Anchoring bias | Decision-makers take decisions on the basis of an initial range of data without adjusting estimations according to the new information received | Decision-makers choose the KPIs to adopt on the basis of an old range of information they have about the company objectives, CSFs and plans | 2.12 | 0.94 | 3.35 | 1.24 | |
| Target setting | Self-interested bias | Decision-makers prefer to set a certain outcome linked to their personal interest (financial or non-financial) | Decision-makers have preferences to select a certain target because of their own personal interest (financial or non-financial) | 2.96 | 1.17 | 3.32 | 1.16 |
| Availability bias | Decision-makers take decisions on the basis of a limited range of data without engaging to find other information to get more | Decision-makers choose the targets to pursue on the basis of a limited range of information they have about the market and the general context | 2.64 | 0.99 | 3.32 | 0.97 | |
| Groupthink | Decision-makers choose largely approved options to avoid conflicts | Decision-makers group chooses low targets no to stress each other’s work, to avoid conflicts | 2.20 | 1.12 | 2.88 | 1.21 | |
| Anchoring bias | Decision-makers take decisions on the basis of an initial range of data without adjusting estimations according to the new information received | Decision-makers choose the targets to pursue on the basis of an old range of information they have about the market and the general context | 2.28 | 0.79 | 3.28 | 1.04 | |
| Sunk cost | Decision-makers consider new investments not disregarding past expenditures that do not affect future costs or revenues | Decision-makers underestimate potential targets because they are influenced by past expenditures already absorbed | 2.68 | 1.22 | 3.04 | 1.18 | |
| Overconfidence | Decision-makers overestimate forecast relying on an overly optimistic base case | Decision-makers overestimate forecasts because of their optimism | 2.60 | 0.87 | 3.36 | 1.09 | |
| Disaster neglect | Decision-makers do not properly build the worst scenario | Decision-makers do not forecast the pessimistic scenario as negative enough and they will not be prepared for its consequences | 2.72 | 1.02 | 4.00 | 0.89 | |
| Loss aversion | Decision-makers take risky decisions preferring to avoid losses than desire gains | Decision-makers select more prudent targets because they prefer to avoid losses than desire gains | 2.76 | 0.93 | 2.80 | 1.20 | |
| Performance evaluation | Self-interested bias | Decision-makers prefer to set a certain outcome linked to their personal interest (financial or non-financial) | Decision-makers have preferences for positively evaluating a certain individual or group performance because of their own personal interest (financial or non-financial) | 2.84 | 1.25 | 3.20 | 1.08 |
| Affect heuristic | Decision-makers minimize/exaggerate negative/positive outputs of something they emotionally like and vice versa | Decision-makers minimize/exaggerate negative/positive performances of something they emotionally like and vice versa | 2.90 | 0.88 | 3.30 | 0.85 | |
| Confirmation bias | Decision-makers focus only on the alternative for which they aim to find confirmation | Decision-makers focus on evaluating only data confirming their initial impressions | 2.89 | 0.95 | 3.34 | 1.06 | |
| Groupthink | Decision-makers choose largely approved options to avoid conflicts | Decision-makers’ group positively evaluates each other's individual performances, instead of being impartial, to avoid conflicts | 2.52 | 1.12 | 3.04 | 1.31 | |
| Reward system | Self-interested bias | Decision-makers prefer to set a certain outcome linked to their personal interest (financial or non-financial) | Decision-makers have preferences for a certain reward policy because of their own personal interest (financial or non-financial) | 2.17 | 1.23 | 3.04 | 1.22 |
| PMSs change | Availability bias | Decision-makers take decisions on the basis of a limited range of data without engaging to find other information to get more | Decision-makers do not adjust PMS in response to company and context dynamics because of a limited range of information | 2.60 | 1.04 | 3.10 | 1.17 |
| Anchoring bias | Decision-makers take decisions on the basis of an initial range of data without adjusting estimations according to the new information received | Decision-makers do not adjust PMS in response to company and context dynamics because of an old range of information | 2.52 | 1.12 | 3.09 | 1.14 | |
| Probability | Impact | ||||||
|---|---|---|---|---|---|---|---|
| Step | Distortion | Description | Effect | Mean | SD | Mean | SD |
| Vision and mission | Decision-makers prefer to set a certain outcome linked to their personal interest (financial or non-financial) | Decision-makers have preferences for setting a certain initial outcome because of their own personal interest (financial or non-financial) | 3.20 | 0.65 | 3.68 | 0.88 | |
| Decision-makers minimize/exaggerate negative/positive outputs of something they emotionally like and vice versa | Decision-makers supposed to involve group members through stories and ways they like, without considering others' emotional drivers | 2.96 | 0.79 | 3.16 | 1.16 | ||
| Decision-makers consider a person, an organization or an approach successful in a case as successful in another | Decision-makers choose generally successful objectives, instead of suitable ones | 2.28 | 0.94 | 3.56 | 0.98 | ||
| Critical success factors | Decision-makers prefer to set a certain outcome linked to their personal interest (financial or non-financial) | Decision-makers have preferences for a certain key factor to choose because of their own personal interest (financial or non-financial) | 2.95 | 1.04 | 3.28 | 1.11 | |
| Decision-makers take decisions on the basis of a limited range of data without engaging to find other information to get more | Decision-makers choose the key factors to pursue on the basis of a limited range of information they have about the market and the general context | 2.48 | 1.05 | 3.64 | 1.09 | ||
| Decision-makers take decisions on the basis of an initial range of data without adjusting estimations according to the new information received | Decision-makers choose the key factors to pursue on the basis of an old range of information they have about the market and the general context | 2.12 | 0.88 | 3.64 | 1.29 | ||
| Strategies and plans | Decision-makers tend to adopt a proposal that is similar to a successful one in the past | Decision-makers, to reach the objectives, adopt past successful strategies instead of basing on current objectives and CSFs | 3.68 | 0.63 | 3.48 | 1.24 | |
| Key performance indicators | Decision-makers take decisions on the basis of a limited range of data without engaging to find other information to get more | Decision-makers choose the KPIs to adopt on the basis of a limited range of information they have about the company objectives, CSFs and plans | 2.22 | 0.88 | 3.16 | 1.16 | |
| Decision-makers take decisions on the basis of an initial range of data without adjusting estimations according to the new information received | Decision-makers choose the KPIs to adopt on the basis of an old range of information they have about the company objectives, CSFs and plans | 2.12 | 0.94 | 3.35 | 1.24 | ||
| Target setting | Decision-makers prefer to set a certain outcome linked to their personal interest (financial or non-financial) | Decision-makers have preferences to select a certain target because of their own personal interest (financial or non-financial) | 2.96 | 1.17 | 3.32 | 1.16 | |
| Decision-makers take decisions on the basis of a limited range of data without engaging to find other information to get more | Decision-makers choose the targets to pursue on the basis of a limited range of information they have about the market and the general context | 2.64 | 0.99 | 3.32 | 0.97 | ||
| Decision-makers choose largely approved options to avoid conflicts | Decision-makers group chooses low targets no to stress each other’s work, to avoid conflicts | 2.20 | 1.12 | 2.88 | 1.21 | ||
| Decision-makers take decisions on the basis of an initial range of data without adjusting estimations according to the new information received | Decision-makers choose the targets to pursue on the basis of an old range of information they have about the market and the general context | 2.28 | 0.79 | 3.28 | 1.04 | ||
| Decision-makers consider new investments not disregarding past expenditures that do not affect future costs or revenues | Decision-makers underestimate potential targets because they are influenced by past expenditures already absorbed | 2.68 | 1.22 | 3.04 | 1.18 | ||
| Decision-makers overestimate forecast relying on an overly optimistic base case | Decision-makers overestimate forecasts because of their optimism | 2.60 | 0.87 | 3.36 | 1.09 | ||
| Decision-makers do not properly build the worst scenario | Decision-makers do not forecast the pessimistic scenario as negative enough and they will not be prepared for its consequences | 2.72 | 1.02 | 4.00 | 0.89 | ||
| Decision-makers take risky decisions preferring to avoid losses than desire gains | Decision-makers select more prudent targets because they prefer to avoid losses than desire gains | 2.76 | 0.93 | 2.80 | 1.20 | ||
| Performance evaluation | Decision-makers prefer to set a certain outcome linked to their personal interest (financial or non-financial) | Decision-makers have preferences for positively evaluating a certain individual or group performance because of their own personal interest (financial or non-financial) | 2.84 | 1.25 | 3.20 | 1.08 | |
| Decision-makers minimize/exaggerate negative/positive outputs of something they emotionally like and vice versa | Decision-makers minimize/exaggerate negative/positive performances of something they emotionally like and vice versa | 2.90 | 0.88 | 3.30 | 0.85 | ||
| Decision-makers focus only on the alternative for which they aim to find confirmation | Decision-makers focus on evaluating only data confirming their initial impressions | 2.89 | 0.95 | 3.34 | 1.06 | ||
| Decision-makers choose largely approved options to avoid conflicts | Decision-makers’ group positively evaluates each other's individual performances, instead of being impartial, to avoid conflicts | 2.52 | 1.12 | 3.04 | 1.31 | ||
| Reward system | Decision-makers prefer to set a certain outcome linked to their personal interest (financial or non-financial) | Decision-makers have preferences for a certain reward policy because of their own personal interest (financial or non-financial) | 2.17 | 1.23 | 3.04 | 1.22 | |
| PMSs change | Decision-makers take decisions on the basis of a limited range of data without engaging to find other information to get more | Decision-makers do not adjust PMS in response to company and context dynamics because of a limited range of information | 2.60 | 1.04 | 3.10 | 1.17 | |
| Decision-makers take decisions on the basis of an initial range of data without adjusting estimations according to the new information received | Decision-makers do not adjust PMS in response to company and context dynamics because of an old range of information | 2.52 | 1.12 | 3.09 | 1.14 | ||