Naremon Thepchai Theatre production of Arthur Miller's 'Death of a Salesman', 1971(Source: Wikimedia Commons)|

Do Your Managers’ Responses to Market Results Damage Profits?

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Key Concept

Self-serving biases can lead managers to make less than optimal decisions when faced with poor results. This can hurt profits as their biases lead to the wrong quality and price responses to market results. However, forward looking executives can take steps to pre-emptively counter those biases when they make their initial price and quality improvement decisions.

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