Synopsis:
I had the privilege of delivering the 13th Foundation Day speech at the Indian Institute of Management, Indore and took the opportunity to highlight amazing insights that brain research has been throwing up in the last two decades which have great relevance to business as well as other leaders especially in the current challenging environment.
In the first half, I talked about behavioral economics findings showing how our unconscious biases make us behave irrationally and how tribalism or strong in-group vs out-group distinctions drive people to take extreme positions leading to conflicts.
I talked about optimism bias affects our decisions and how feelings of un-fairness and status anxiety can trigger disproportionately strong reactions.
I touched upon belief systems, Cognitive Dissonance, framing and loss aversion.
In the second half of the talk I emphasized how intrinsic motivation is lot more effective than extrinsic motivation. I then explained how anchoring bias is exploited by retailers and most critically stressed the need for leaders to walk the talk, I showed how people are vulnerable to priming and the contagious nature of human behavior. I touched upon neuro-marketing and ended with the need to understand false memories.
Will be happy to hear your comments.
