Decision Making
Today's business leaders are increasingly forced to make quick decisions. Good managers instinctively set out to make reasoned, well-thought-out judgment calls. Yet a rational approach to tackling decisions is only one side of the story. All too often, intuition becomes overemphasized. Personal biases begin to fundamentally influence – and fatally flaw – decision making. Would it not be better if the decision-making process was complemented by sound analysis?
Decision Making looks at both sides of the equation. Together with an international peer group and world-class faculty, the program combines practical experience with up-to-date theoretical concepts. In addition to discussing case studies and participating in individual and group exercises, participants will have the opportunity to explore – and tackle – common challenges in decision making.
The program is designed to help managers achieve greater insight and exercise sound judgment. You will deepen your decision-making skills and design more effective decision-making processes. You will also avoid common mistakes by learning to break down decision problems into manageable parts. In doing so, you will better be able to consider alternatives, assess all available information and identify relevant decision-making preferences. Finally, you will gain a greater understanding of your own personal biases in order to avoid their influence on future decisions.
Target Audience
Managers and consultants who make pivotal decisions on issues affecting market entry, production site closure, products, investments or personnel.Key Topics
Making good decisions
- Framing decisions
- Asking the right questions
- Making group decisions
- Creating effective decision-making processes
Negotiation risk
- Structuring decisions
- Managing uncertainty
- Evaluating alternatives
- Valuing additional information
Understanding decision-making psychology
- Identifying risk attitudes
- Recognizing personal bias
- Avoiding common pitfalls
Take-Home Value
- Improve business performance by developing a deep understanding of what drives effective and ineffective decisions
- Learn to identify the right questions, use appropriate frameworks and stop overanalyzing
- Avoid common decision traps
- Develop cooperative decision-making skills in situations where collaboration produces better outcomes
Meet the Faculty
Christoph Burger (Program Director)Full biography
Christoph Burger is a member of the ESMT faculty and heads the Practice Group Telecommunication, Transport and Utilities, ESMT Customized Solutions. Christoph Burger has professional experience in strategy, post merger integration, equity financing as well as customer and supplier management. He has solid international experience, spanning Northern and Eastern Europe and the United States. Christoph teaches consulting skills, strategy and leadership in ESMT’s MBA and executive education programs. His publications focus on customer management, industry outlook and business plan assessment.
Francis de Véricourt
Full biography
Francis de Véricourt joined the ESMT faculty in September of 2007 as a full professor as well as the first associate dean of R&D, where he plays an integral part in guiding the direction of ESMT’s research activities. He was previously at the Fuqua School of Business at Duke University and taught Executive MBA, MBA, Executive Education and PhD courses. Prior joining Duke, he was a visiting researcher at the Massachusetts Institute of Technology (M.I.T.). He also worked on decision models at Bouygues Telecom, France.
