Strategic Decision Making
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Decision-making is a central element of strategic processes within firms. A firm’s strategic position, resource sets, and degree of competitive advantage are the outcome of a string of “big-bet” strategic decisions. Thus, these decisions are central in determining the strategic success or failure of the firm. However, manager’s experiences, stories in the business press, and academic research all demonstrate that the strategic decisions often fail. Are these failures an inevitable outcome due to the riskiness of the decisions, or are they predictable surprises?
In this program, we will explore the process of strategic decision-making and will aim to identify issues that both impede and improve the likelihood of decision success. In our discussions, we will examine how the characteristics of decision makers, the structure and dynamics of the decision team, and the steps used in the decision process all impact the likelihood of decision success.
At the end of the program, participants will have new insights on the factors that predictably but unnecessarily lead organizations to fail in the strategic actions they undertake and the tips they can employ to avoid predictable surprises.
Key Learning Outcomes
After attending this program, participants will have learned how to:
- Effectively frame a decision
- Structure the decision process
- Better draw in decision stakeholders
- Foster decision involvement
- Select from a strong set of alternatives
- Avoid common decision pitfalls
- Understand your own decision biases
- Create the conditions for decision implementation
Who should attend
This program is designed for mid-level to senior-level management such as vice presidents, general managers, division or department heads, project team leaders, director and others in key decision making positions for their organization.