How can you, as a leader, make better decisions? Being a leader requires not only the ability to make important decisions independently but also the capacity to influence others’ decisions.
In this program, we will use the frameworks of choice architecture to examine the decision-making process. We’ll study the various ways choices are framed—and how this framing can influence decisions. The topics explored will help you become a better decision maker in your professional life and beyond.
Choice architecture—popularized by economist Richard Thaler and legal scholar Cass Sunstein—was originally designed to influence consumer behavior. But its applications have proven constructive for organizational leaders and managers who need to make and influence important decisions.
Through engaging case studies, discussion, and exercises, you’ll learn when and where flawed thinking can occur, how you can intervene, and how you can ultimately make and influence smarter decisions for your organization.
You will uncover the inner workings of human biases and judgment. And you’ll gain insights into how inherent bias or poorly structured information can affect business decisions. You will learn to recognize these hurdles so you can develop better decision-making outcomes and improve your bottom line.
Program Benefits
Explore the fast-growing fields of behavioral economics, behavioral insights, and behavioral decision making––and why they matter
Learn how to identify cognitive biases and structure your environment to eliminate destructive bias
Discover the psychological factors that drive economic decisions and how they impact your business and bottom line
Improve your ability to forecast the outcomes of decisions
Understand how to leverage the power of “nudges” and behavioral interventions
Understand how heuristics and biases can affect the decisions you make everyday
Earn a Certificate of Participation from the Pild Division of Continuing Education
Topics Covered
Judgment
Human biases that affect judgment
Conscious and unconscious choice-drivers
The effect of emotion on judgment
Judgmental errors that plague all organizations
Ways to “de-bias” judgment
Decision Making
Understanding of choice architecture
Exploration of the origins of behavioral decision making
Perception of risk, its impact on choices, and how to better communicate it
Decision making under uncertainty and what an ideal decision looks like
Choice Architecture in Business
How businesses and governments are using behavioral economics to design decision making
The promises and pitfalls of forecasting
Experimentation and data to optimize performance
How to become an effective decision architect by redesigning the decision-making context
Who Should Enroll
This program is applicable to anyone in general management who wants to improve decision making at their organization and positively affect the bottom line.