This might seem unlikely to impact business decisions if you work for an organization that hires only the best and the brightest.
That might be the case, but there are going to be team members who you personally don’t connect with, even though they excel at their job.
It means we do the research and learn before making a decision.
Plus, being innovative requires taking risks and being aggressive.
But just because it’s coming from your boss, doesn’t necessarily make the argument correct.
But the argument from authority doesn’t need to come from a person in the organization who literally has authority over you.We give people authority all the time for little to no good reason.Have you ever been at the supermarket and picked up a product, thinking: “I hear this is great!” Then you realize you heard that from a spokesperson on a TV commercial.It’s important to only trust a person in authority if they’ve earned that trust because they’re knowledgeable, experienced and skilled.In order to better understand the affects of logical fallacies on business, let’s just focus on one aspect: decision making.How can logical fallacies harm your decision-making process?It’s making a decision without all the facts having first been gathered and understood in context of the decision you’re making.For example, let’s say you’re going to exploit what you see as a consumer need for some kind of widget.As a result of this adherence to emotion, many people and businesses often fall prey to the trap of logical fallacies.A logical fallacy is an incorrect argument in logic and rhetoric that contains a fatal flaw which undermines its soundness, thereby leading to an erroneous, and potentially damaging, conclusion. Unfortunately, businesses can and do commit these fallacies, and the consequences are often immediate and, if not, eventually come and wreak havoc on their bottom line.