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School of Hotel Administration

Strategic Decision Making

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Next dates

May 1
Online
USD 769
May 15
Online
USD 769
May 29
Online
USD 769
+16 more options

Categories

FinanceStrategy

Description

The ability to make effective and timely decisions is an essential skill for successful executives. Mastery of this skill influences all aspects of day-to-day operations as well as strategic planning. In this course, developed by Professor Robert Bloomfield, Ph.D. of Cornell University’s Johnson Graduate School of Management, you will hone your decision-making skills by following a methodology based on tested actions and sound organizational approaches. You will leave this course better equipped to confidently tackle any decision large or small, and you’ll do so in a way that creates the optimal conditions for success.

Key Benefits

Participants who complete this course will be able to...

  • Respond decisively and consistently when faced with situations that require a decision
  • Determine the most important features of the decision you need to make, based on the setting and the context
  • Recognize and compensate for psychological factors in yourself and in others that affect decision quality
  • Incorporate available information into decisions, with an awareness of the limitations of that information
  • Establish responsibilities and accountabilities to ensure effective follow-through on decisions made

Topics Include

Module 1 - Deliberate, Delegate or Trust Your Gut?

  • Recognizing and Handling Urgency
  • When Taking Your Time Makes Sense
  • Decision-Making Wins and Fails

Module 2 - Identify Alternatives

  • Unbundling and Rebundling Attributes
  • Using Options to Split the Difference
  • Techniques for Expanding Alternatives

Module 3 - Account for Biases

  • Availability Bias, Future Framing, and the Halo Effect
  • Escalation Bias and the Planning Fallacy
  • Identify and Counteract Biases

Module 4 - Gather and Weight Information

  • Clarifying Strategy with a Causal Map
  • Gathering Data
  • Assessing Data Quality

Module 5 - How to Value Risk in Outcomes

  • Options, Risk Management, and Maximizing Value

Module 6 - Follow Through

  • Responsibility and Accountability
  • Inputs, Outputs, and Outcomes
  • Assign Responsibilities and Accountabilities

Who should attend

This course is intended for mid- to upper-level managers, high potentials, and senior leaders with over three years’ experience. Learners may come from every continent and from a diverse range of organizations, including for profits large and small, NGOs, and governmental agencies.

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