Removing Bias from your Strategy and Decisions- 1 day
This course will focus on introducing business executives to various behavioural biases observed among individuals and discussing how one can make optimal business decision-making given such biases. Natural field experiments and randomized controlled trials have become the gold standard for generating useful business and policy insights in fields of management such as economics, strategy, finance, and organizational behaviour. Pioneering work by academic researchers and various behavioural insight units including Behavioural Research in Action at Rotman (BEAR) and those by provincial and federal governments of Ontario and Canada showed how public and business policy based on insights generated from interaction of economics and behavioural science can be useful in improving decision-making at both individual and organizational levels.
Who Should Attend:
This course will be beneficial for managers in both private and public sectors who are interested in using cutting-edge and innovative behavioural insights in making better decisions and devising better strategy. Examples will include increasing revenues and profits, increasing organ donations, improving pricing strategy, reducing compliance failure by consumers, and increasing worker productivity. Incorporating real-world examples from our own research, we will demonstrate how these insights can be used to effectively mitigate consumer biases and design optimal business strategy, leading to greater efficiency and higher profits.