The Art of Decision Making
Combine rationality and intuition to achieve better decision-making processes
Today’s business leaders are increasingly forced to make quick decisions. Good managers instinctively set out to make reasoned, wellthoughtout judgment calls, yet a rational approach to tackling decisions is only one side of the story. Too often, too much emphasis is placed on intuition, and personal biases begin to influence – and fatally flaw – the decisionmaking process. Doubtless, this process should be complemented with sound analysis.
The Art of Decision Making (DMA) looks at both sides of the equation. Combining an international peer group and distinguished faculty, the program merges practical expe rience with uptodate theoretical concepts. In addition to discussing case studies and participating in individual and group exercises, participants will explore their decision making style and tackle common decisionmaking challenges.
The program is designed to help managers achieve greater insight and learn to exercise sound judgment by honing decisionmaking skills and designing more effective group processes. Participants will learn to avoid common decisionmaking mistakes by breaking problems into manageable parts, effectively analyzing information, considering alter natives, and identifying the objectives they need to achieve. Finally, they will gain a greater understanding of their own decision making style and personal biases, how these affect the decisions they make, and how to prevent them from influencing future decisions.
The German language alternative program is “Die Kunst der Entscheidungsfindung” (ENT).
Managers in all functions who are actively engaged in decision making during uncertainty and risk.
- Improve business performance by developing a deeper understanding of what drives effective versus ineffective decisions
- Learn to ask the right kinds of questions, use appropriate frameworks, and stop overanalyzing to avoid common decision traps
- Understand your decision making style and ways to improve it
Making good decisions
- Managing uncertainty
- Evaluating alternatives
- Valuing additional information
Understanding decision-making psychology
- Identifying risk attitudes
- Recognizing personal biases
- Avoiding common pitfalls
Optimizing decision making processes
- Combining different decision making aspects
- Contributing to group decision processes
- Understanding different decision making approaches
“The faculty members were enthusiastic and incredibly knowledgeable, and the wide variety, backgrounds, and experiences of my fellow students added great value, too. All this set in beautiful surroundings with historical significance.”
Ruth Beadle, Senior Business & Development Analyst, Gazprom Marketing & Trading
Meet the teaching staff
Christoph Burger (Program Director)
is senior lecturer at ESMT Berlin. Before joining in 2003, he worked five years in industry at Otto Versand and as vice president at the Bertelsmann Buch AG, five years at consulting practice Arthur D. Little, and five years as independent consultant focusing on private equity financing of SMEs.
His research focus is in decision making/ negotiation, innovation/ blockchain and energy markets.
Christoph studied business administration at the University of Saarbrücken (Germany) and the University of St. Gallen (Switzerland) as well as economics at the University of Michigan, Ann Arbor (USA).
is a program director at ESMT Berlin. From 2007 to 2009, he worked as a manager at the economic consultancy ESMT Competition Analysis.
Jens’ research focus lies in the analysis of decision making in regulation, competition policy, and innovation, with a special interest in energy and transport.
He received his PhD from London Business School in decision sciences.