MBA Insights

By: MBA Insight Collective
  • Summary

  • Dive into real scripts from the world’s leading MBA programs. MBA Insights brings you authentic lessons, from finance fundamentals to strategic marketing and leadership ethics, as taught in top 100 business school. Each episode distills high-level concepts, case studies, and actionable insights, making elite business education accessible and practical. Elevate your career with knowledge straight from the world’s best business schools — without the tuition fees.
    MBA Insight Collective
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Episodes
  • Organizational Behavior #04: System 1 & System 2 Thinking
    Nov 16 2024

    In this episode, we dive into the fascinating concept of System 2, as described in Daniel Kahneman's influential book "Thinking, Fast and Slow." System 2 represents the part of our brain responsible for effortful thinking—tasks that require focus, deliberate thought, and self-control. It handles everything from complex calculations to evaluating logical arguments. But here’s the catch: System 2 is inherently lazy and follows what Kahneman calls the "law of least effort."

    We’ll explore how System 2’s preference for shortcuts affects our everyday decision-making, often allowing System 1, our fast and intuitive thinking system, to take over. This is evident in examples like the "bat and ball" problem, where many people quickly respond with an intuitive but incorrect answer because System 2 avoids the extra work of checking the math. Similarly, System 2 tends to accept plausible conclusions without examining their validity, especially in situations involving logical syllogisms.

    This tendency of System 2 to "check out" can leave us more susceptible to cognitive biases and errors, particularly under stress or cognitive load. When System 2 is tired or occupied, System 1 steps in, leading us to make impulsive or flawed decisions based on gut reactions rather than reasoned thought.

    However, Kahneman’s research also provides hope: with practice, we can train System 2 to be more vigilant. By practicing mindfulness, actively questioning our intuitive responses, and challenging ourselves to engage in deeper thinking, we can reduce errors and make more thoughtful decisions.

    Tune in to this episode to gain insight into the dual-process theory of the mind, understand how System 2’s "laziness" shapes our judgments, and discover strategies to strengthen your mental effort for more accurate and reliable decision-making.

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    13 mins
  • Organizational Behavior #03: Thinking, Fast and Slow
    Nov 15 2024

    In this episode, we explore the groundbreaking two-system model of the mind introduced in Daniel Kahneman's "Thinking, Fast and Slow." This framework explains how we think and make decisions through two distinct systems: System 1, the intuitive thinker, and System 2, the effortful thinker.

    System 1 operates automatically and effortlessly, handling quick judgments, emotional reactions, and simple tasks. It’s always active, offering fast responses and instincts based on memory associations. In contrast, System 2 takes on complex, deliberate thinking tasks, requiring focus and energy to solve problems, evaluate arguments, and monitor our behavior. While System 2 can intervene when System 1 encounters challenges, it prefers to conserve energy, often resulting in shortcuts and potential errors.

    We also discuss how these systems interact, sometimes clashing—such as when System 1 misperceives a visual illusion despite System 2's knowledge of reality. This dual-process model reveals both the strengths and biases inherent in our thought processes and highlights the role of reasoned decision-making. Tune in to understand how this two-system view shapes everything from daily choices to complex judgments, providing valuable insights into human behavior and cognitive bias.

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    29 mins
  • Organizational Behavior #02: Power, Well-Being and Life Satisfaction
    Nov 14 2024

    In this episode, we explore the intricate dynamics between the experiencing self and the remembering self, two facets of our identity that shape how we perceive happiness and satisfaction. The experiencing self lives in the present, while the remembering self reflects on our past, often through a biased lens. These biases, like the peak-end rule and duration neglect, influence how we remember experiences, sometimes leading us to make choices that may not truly enhance our happiness.

    We discuss the day reconstruction method (DRM), a powerful tool designed to capture genuine well-being by focusing on specific episodes and their associated emotions. Through DRM findings, we uncover how daily activities like work and commuting can contribute to negative affect, while social interactions and intimacy bring positive emotions. This insight suggests we could improve our overall happiness by prioritizing activities that align with our well-being.

    We also delve into the focusing illusion, which occurs when we overemphasize certain life aspects—such as marriage—while judging our happiness. This tendency can temporarily boost life satisfaction, only to see it return to baseline levels as our focus shifts, highlighting the impact of attention on our perceptions of joy.

    Finally, we pose a fundamental question: Should we prioritize the momentary satisfaction of the experiencing self, or are we more inclined to shape a positive narrative for our remembering self? This choice has profound implications, prompting us to think about what truly matters in our personal and professional lives. Tune in to reflect on how these insights could guide your approach to happiness, fulfillment, and meaningful decision-making.

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    12 mins

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