Status Quo Bias versus Psychological Inertia

Status Quo Bias
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K R Sethuraman
Professor, Malaysia

Status Quo Bias versus Psychological Inertia

🔥NEW Quoting from Wikipedia: "Status quo bias should be distinguished from psychological inertia, which refers to a lack of intervention in the current course of affairs. For example, consider a pristine lake where an industrial firm is planning to dump toxic chemicals. Status quo bias would involve avoiding change, and therefore intervening to prevent the firm from dumping toxic chemicals in the lake. Conversely, inertia would involve not intervening in the course of events that will change the lake."
Therefore status quo bias is desirable / positive in certain contexts.

  K R Sethuraman
Professor, Malaysia
 

'Watchful Expectancy' and 'Masterly Inactivity' can be Valid Management Options in Healthcare

In several healthcare scenarios, 'Watchful Expectancy" and "Masterly Inactivity" are recommended as wise options to follow. These are differentiated from psychological inertia by the fact that periodic monitoring is done during the inactive watchful phase. It is also different from status quo because the expectation is for natural processes to resolve the healthcare problem; therefore it is not just a "status quo mindset". If anyone is interested, some common examples are discussed briefly in Wikipedia: (https://en. Wikipedia.org/wiki/Watchful_waiting)
I wonder if there are similar situations in other industries where 'Watchful Expectancy" and "Masterly Inactivity" are valid management options?

  Jaap de Jonge
Editor, Netherlands
 

Real Options

There definitely are scenarios and options like th (...)

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More on Status Quo Bias
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Organizational Sacred Cows
How to Overcome SQB?
Status Quo Bias versus Psychological Inertia
Quotes on SQB. Quotations
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