bad decisions

Bad Decisions
Student’s Name:
Institution:
Decision-making is a cognitive process which comprises of different thinking styles. Depending on the resources required, amount of obtained information and the degree of analyses, there are three different categories of decision-making. These are non-analytical, unaided analytical and aided analytical (Paluch, 2012, p.10, para.2). Through the decision-making process good and bad decisions are made, but it is the bad ones that cost the business and the involved parties heavily. According to Andersen (2013, para.2), these bad decisions arise due to the decision makers lack of facts relevant to the issue, disregard for the input of other involved parties and assumptions based on fear or ego. This essay will discuss some of the bad decisions that have been made in the recent past specifically the cases of The Beatles and George Lucas. It will further expound on the biases that were involved in the decision making of the two cases and their impacts and will conclude with a summary of the cases in regard to bad decision making.
Paul McCartney, John Lennon, George Harrison and Ringo Starr (who replaced drummer Pete Best) are the members of The Beatles, a famous rock band group from Liverpool (Lifton, 2016, para.5). In their early career before they got their ‘big break’, the Beatles performed fifteen songs live in an audition for the staff of Decca Records (the best record label of their era) based in London (Andersen, 2013, pa…