Final answer:
Emotional intelligence is the key competency involved in recognizing and managing one's own emotions and the emotions of others, which plays a significant role in rational thinking and decision-making.
Step-by-step explanation:
Emotional intelligence is the ability to recognize, understand, pay attention to, and manage one's own emotions and the emotions of others. Emotional intelligence integrates the use of cognitive skills to make decisions and act altruistically to benefit others. It is supported by the idea that emotions play a significant role in rational thought, challenging the notion that rational thinking should eliminate the influence of emotions. Antonio Damasio's work indicates that our most rational thoughts are intertwined with our emotions. Heuristics are rules of thumb that help simplify decision-making processes and are one tool for managing cognitive load. However, these shortcuts can sometimes lead to incorrect conclusions, which is why understanding how emotions and biases influence our decision-making is important. In conclusion, emotional intelligence is a key component not only for personal success but also for effective group interaction and decision-making.