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How can firms manage bias and assumptions developed while managing the firm's domestic business?

How can firms manage bias and assumptions developed while managing the firm's domestic business?

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Answer #1

How can firms manage bias and assumptions developed while managing the firm's domestic business?

  • Firms can define set of principles to guide their domestic business
  • Firms can also define rules and regulations to curb assumptions during business
  • Firms managers could practice ethical transactions within business to remove bias
  • Firms should increase transparency to curb biased nature within processes
  • To remove bias, Firms should remove centralized leadership, instead firm should follow empowering individuals to challenge biased transactions
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