Strategic Decision Making
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.
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
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.