Being a leader requires not only the ability to make important decisions independently but also the capacity to influence others’ decisions.
In this two-day 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.
- 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
- 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