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Quotes of the day:
Business strategies can interestingly be assimilated with medicinal drugs. There are no better or worse strategies. There are only adequately adopted business strategies or inappropriately selected and implemented strategies.
Outcome bias arises when a decision is based on the outcome of previous events, without regard to how the past events developed. Outcome bias does not involve analysis of factors that lead to a previous event, and instead de-emphasizes the events preceding the outcomes and overemphasizes the outcome. Unlike hindsight bias, outcome bias does not involve the distortion of past events.
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