Making Decisions Dynamically


Overview/Description
Target Audience
Expected Duration
Lesson Objectives
Course Number


Overview/Description
Your decisions determine your life. This simple statement is most evident in today's business world. Made consciously or unconsciously, your decisions represent the fundamental tool you use in facing the opportunities, challenges and uncertainties of life. It's not a case, however, of "make a decision, any decision". The increased complexity and competition of the 21st century marketplace calls for dynamic decision making—the kind of decision making that significantly boosts productivity. The objective of this course is to turn you and others in your organisation into dynamic decision makers. You'll gain the skills necessary to avoid the psychological difficulties that have a negative effect on decision making. You'll enhance your decision-making ability in risky and uncertain circumstances. This course will equip you with concrete and powerful decision-making tools, both rational and statistical. When you use the decision-modelling techniques presented here, you'll enjoy enhanced accuracy and, hence, business confidence. Then, with these strategies in hand, you'll explore ways to better make decisions even when you're working with others who aren't completely "on your side". It's true that decisions determine your life. It's time now to better determine your decisions.

Target Audience
Executives, managers, supervisors, team leaders and other business professionals who want to enhance their ability to solve business problems and make effective personal and organisational decisions

Expected Duration (hours)
2.5

Lesson Objectives

Making Decisions Dynamically

  • recognise the value of understanding the factors that influence decision making.
  • select descriptions of sound decision-making principles.
  • match decision-making styles to their corresponding descriptions.
  • recognise benefits of skilfully using decision-making techniques.
  • analyse the effectiveness of a PMI analysis used to evaluate a business decision.
  • analyse the effectiveness of an ease-and-effect matrix used to prioritise potential business decisions.
  • analyse the effectiveness of a team using the nominal group technique to make a business decision.
  • identify steps of using a return-on-investment measure to evaluate a business decision.
  • analyse the effectiveness of a devil's advocacy technique used to evaluate a proposed business decision.
  • recognise benefits of effectively discussing potential business decisions with uneasy or competitive parties.
  • identify effective strategies for making compromises and managing trade-offs.
  • apply techniques to conduct a genuine dialogue about a business decision with another party.
  • Course Number:
    pd_04_a04_bs_enin