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ISSN 2063-5346
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Neuroscience and its relevance to Decision Making among Businesswomen โ€“ A Case Study

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Mrs. Sayee Bhuvaneswari, Dr. S.N. Sugumar
ยป doi: 10.48047/ecb/2023.12.7.273

Abstract

The Indian Economy is thriving on global business expansions through innovative strategies. Industrial expansion and business start-ups are pivotal for our growth. Governments across the globe are emphasizing more on women-led businesses which enables them with support for skill development, financial aid, welfare schemes, etc. Their business acumen in adapting to changes in the business environment, managing the challenges in the volatile market, sustaining the tempo of business development, and yet being different in their domain plays an indispensable role in their success. All of these revolve around one key aspect of any business, which is decision-making. Most of the time, businesswomen may assume that they have rational decisions when they make choices, However, there may be various biases like emotional biases or cognitive biases which may not yield an optimal choice decision. Neuroeconomics is a combined field of psychology, economics, and neuroscience. It gives an insight into value-based decision-making. It also delves into the role of neurobiology on the choices we make, and the role of emotions that may lead to biases. This qualitative research paper is based on two case studies to study the role of emotions in decision-making among Businesswomen and to understand the role of the neuro-programming structure of the brain behind these emotions. The findings suggested that emotions especially neutral emotions play a key role in value-driven decisions making particularly in business, and financial decisions. The style of decision-making is influenced by the emotional state.

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