The New Leadership Mindset

Ideally, there should be no business outcomes that are left to chances or luck in any serious organisation made up of professional individuals employed by reasons of their personal skills and professional abilities. Nevertheless, many businesses, big and small, still leave important choices to either chance, luck, or even both, rather than be made deliberately and decisively.

An organisation’s success depends largely upon its leaders’ capacity for making strong and informed judgments. However, many leaders often rely on previously established patterns and habits (the precedent) when making decisions without considering all available information, patterns, and trends including updates.

Although it could involve some hard work when consistently applying conscientious judgment and decision- making skills, it is arguably the hallmark of success within any leadership context. Furthermore, there are several components relevant to judgment and decision-making that remain unknown to many leaders and managers; these are the whole essence and value of this course offering.

This course covers theoretical knowledge and practical skills providing theability to develop managerial decision-making skills that are based on the application of various methods within both local international environments, including: studying the process of making economic and managerial decisions; analysing situations requiring decisions; studying simple and complex decision-making methods.

Theory and practice of decision-making methods would be thoroughly explored through individual and group presentations, class discussions, case study analyses and individual numerous activities. The course is intensive and highly interactive. There are several written and audio-visual materials for this course. In addition, a case pack with required and suggested readings and cases will be made available to delegates for personal practice and reflection.

A willingness to discuss, critique and challenge views of others is required for effective participation. Most materials for tasks, cases and readings would be e-mailed to delegates ahead of commencement. The course will use a variety of methods including lectures, case studies, tasks calculation, work groups, discussions, and Q & A sessions. Links for additional resources are given at the end of the course for continuous learning and development.

Within the course, an individual project on decision-making methods application and analyses would be presented as a final case study focusing on providing delegates with the opportunity for building their individual portfolio of Behavioural Economics Academy, which is the collection of personal and leadership development courses offered by the business school. This individual project on organisation decision-making analyses includes: – collecting data in selected business, developing corporate strategy, improving organisational development, making necessary changes to plans and ensuring their implementation.

LEARNING OUTCOMES

Upon satisfactorily completing this course, delegates should be able to:

1. Describe the elements of the critical decision-making process and distinguish effective from ineffective examples
2. Identify System 1 and System 2 thinking
3. Determine the times and situations for applying System 2 thinking
4. Clarify the purpose of the decision, evaluate alternatives, and assess risks
5. Identify the value of intuition and pattern recognition in making informed, effective decisions
6. Identify decision making traps and employ techniques for avoiding these traps
7. Make sense of ambiguous situations by visualizing the ideal future state
8. Enhance creativity by creating a climate that nurtures creativity and limiting the common organizational obstacles to creativity
9. Acknowledge and address personal and organizational indecisiveness
10. Evaluate the impact of past experiences in making the right or best decision
11. Evaluate the decision by applying a potential problem analysis
    Identify potential problems with the chosen alternative and take appropriate preventive or contingent actions
12. Encourage others to query unfounded and hidden assumptions
13. Make better choices based on intentions and clearly defined outcomes
14. Make the best use of available information, patterns, and trends
15. Think critically and decisively to enhance choices and their outcomes