The role of neuroscience and neurotechnology: decision making in corporate enviroments
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Decision making is a basic cognitive process and a critical skill set that can lead to a transformational change. This research is a study of the neurobiological basis of decision making, and how its results can be applied to the corporate world. Given the number of new discoveries in neuroscience due to technological advancements in neuroimaging, only partial knowledge about human brain have been utilized for business purposes. This research explores how this knowledge can be applied in business to improve decision making under uncertainty, and to find ways where business and science can be integrated and share best practices. It suggests to focus on cognition because its improvement is a key to high performance in business. Enhancement of cognition can be developed through training and practice of intelligence functions by creating virtual training environments that fully resemble real life, such as modelling and simulations. This practical training could also measure cognitive abilities and identify weak spots in the decision-making process on individuals. The results could be especially valuable to decision makers in fast-paced operating environment, under stress and uncertainty, and could offer vital insights for policy makers and business leaders making decisions in management, ethics, and marketing.