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Smith School of Business

Strategic Decision Making

Oct 1—2, 2019
2 days
Toronto, Canada
CAD 3300 ≈USD 2492
CAD 1650 per day
Apr 21—22, 2020
2 days
Toronto, Ontario, Canada
CAD 3300 ≈USD 2492
CAD 1650 per day
Nov 12—13, 2020
2 days
Toronto, Ontario, Canada
CAD 3300 ≈USD 2492
CAD 1650 per day

How it works

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Description

Decision-making is arguably the most critical job of a manager and bad choices can damage careers and the bottom line. This 2-day session explores the blending of the art and the science of decision-making into a practical process that enable you to consider your choices both intuitively and analytically. It will further enable you to understand how your decisions can have ramifications across the entire organization.

This Program will enable you to:

  • Learn how successful managers and business leaders make their decisions and understand prescriptions for positive decision-making practices in the future
  • Discuss and build a framework for both strategic and tactical problem-solving – an asset for any managers faced with making important decisions about their businesses
  • Understand the impact of your decisions across the organization

Personal benefits

  • Avoid common biases to arrive at and implement decisions that are both effective and ethical
  • Blend the art and science of decision making into a practical process
  • Increased responsiveness to internal and external customer needs
  • Heightened business literacy and financial acumen
  • Deep understanding of the overall business impact of financial decisions

Organizational benefits

  • Make effective decisions in uncertain and risky environments
  • Avoid decision-making traps and resolve decision-making bottlenecks
  • Ensure that decisions are made at the right level in the organization
  • Improved productivity through better teamwork, communication and coordination
  • Alignment around the “big picture” and a deeper level understanding of strategy and tactical initiatives
  • Better decisions for optimal allocation of limited resources
  • Increased responsiveness to internal and external customer needs
  • Heightened business literacy and financial acumen

DAY 1 - CONSISTS OF FIVE INTERRELATED TOPICS

  • Analytical Decision-Making: How to analyze an uncertain and complex situation?
  • Intuitive Decision-Making: What is the role of intuition and judgment in strategic decision-making?
  • Decision-Making Traps: What are the common cognitive biases and mistakes?
  • Decision-Making Process: Is there a structured yet practical framework that can help avoid under- or over-analysis?
  • Decision-Making Issues: Is there an effective way to decentralize decision-making in a large organization and assign roles and responsibilities to unclog bottlenecks?

DAY 2 – CELEMI DECISION BASE™ SIMULATION EXERCISE

On Day 2, participants take on the role of the management team – comprised of finance, production, marketing and corporate intelligence. Their challenge is to make the right investments at the right time – and to get the required return. Teams manage the strategic, operational and financial variables that will help lower costs and penetrate new markets. Tough investment decisions lie ahead:

  • Invest now…or later?
  • Pursue all markets… or just a few?
  • Take the lead… or be an early follower?
  • Build efficient assembly lines… or flexible flow shops?
  • Borrow money… or earn it first?
  • Stick to the basics… or pursue the cutting edge?

Teams learn to better utilize financial statements and financial ratios as planning tools to boost productivity and profitability over a 10-year period. Working together, they increase their awareness of the complex nature of inter-departmental financial relationships.

And in the process, they understand what it takes to pull in the same direction – as well as how to bring their new skills and insights into reality.

Who should attend

Senior managers from all functional areas involved in strategic and major tactical decision-making.

Experts

Adjunct Associate Professor Paul Roman has been researching and lecturing in operations management with emphasis on reliability and maintainability and modeling and simulation for over 15 years.  His 20-year military career included duty with 4 Canadian Mechanized Brigade Group in Germany, Off...
Associate Dean and Executive Director of Smith School of Business - Executive Education & Adjunct Associate Professor Salman Mufti is Associate Dean and Executive Director of Smith School of Business - Executive Education. He is also Associate Professor of Management Information Systems at...

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Detailed Description

Next dates

Oct 1—2, 2019
2 days
Toronto, Canada
CAD 3300 ≈USD 2492
CAD 1650 per day
Apr 21—22, 2020
2 days
Toronto, Ontario, Canada
CAD 3300 ≈USD 2492
CAD 1650 per day
Nov 12—13, 2020
2 days
Toronto, Ontario, Canada
CAD 3300 ≈USD 2492
CAD 1650 per day

How it works

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