Moving the Spotlight from Innovation to Problem Solving in Pharmaceutical Companies
An industry facing uncertainty and change must adopt new decision-making frames.
By Gaurab Bhardwaj
How Mental Frames Affect Decisions
We simplify the complexities of our world with mental frames. They determine what aspects of the world we see. Frames bring some things to the forefront of our attention and push others in the background to be given less attention or none at all. Frames affect what we think about, the choices we make, the resources we allocate. Frames include beliefs, assumptions, concepts, predispositions, what is taken for granted, and views about what drives success.
Often, we are not conscious of the frames we use in our thinking, and how powerfully they may be driving our choices. Because they can lead to both good decisions and bad ones, it is important to be aware of the frames we use and judge whether they are best suited for the circumstances facing us. If not, then we should consider new frames. ...
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About the Author
Gaurab Bhardwaj is an associate professor and holder of the Lavigne Family Endowed Term Chair at Babson. His research, teaching, speaking, and facilitating expertise are in strategy, innovation, corporate entrepreneurship, and decision making in biotechnology, pharmaceuticals, and other life sciences and health-related businesses.