Problem Solving and Decision Making for Executives

At the heart of every decision is the desire to solve a problem, whether defined in terms of a deficiency or an opportunity. Executives and leaders generally, are made or broken by the decisions / choices we make or fail to make. A recent world Economic Forum article (2016) on the Future of Jobs lists complex problem solving, critical thinking and decision making as 3 of the top ten skills required to function in the work place by the year 2020.

Formal economic models of decision-making often begin with the assumption that we are inclined to make choices that leave us as well off as possible. However, research and experience suggest that we often make choices that seem opposed to our best interests or at best are suboptimal.

It is important to understand that problem solving and decision making is necessarily a two-dimensional phenomenon. To make more optimal choices, we must understand how these dimensions interact especially in time-bound, uncertain and volatile contexts.

This seminar will equip participants with knowledge, tools and frameworks required for solving problems and making decisions, especially in our peculiar contexts.

Programme Curriculum

The psychology of Decision Making

• Personality and decision making
• Cognitive biases and decision making
• Judgment & decision making
• Decision Making as Process
• Decision Making as Process
• Solving complex problems
• Gathering intelligence
• Analytical thinking for decision making
• People and context in Decision Making
• Group Dynamics and the Decision-Making Process
• Communicating decisions to different stakeholders
• Dealing with uncertainty and the constraint of time

Key Learning Outcomes

At the end, participants would have:

• Developed a strategy for handling complex problem situations
• Learnt how to handle/use information correctly
• Learnt to handle cognitive limitations that plague the decision making process
• Learnetto think according to defined parameters and frameworks that aid optimal decision making
• Honed their thinking capabilities to accommodate novel, non-routine decision situations
• Learned when and how to engage participatory decision making