A recent World Economic Forum report on The Future of Jobs lists complex problem solving, critical thinking and decision making as three of the top 10 skills required to succeed in the workplace. Managers and executives, on all levels, are daily faced with tough decisions that have implications for organisations.
At the heart of every decision is the desire to solve a problem, whether defined in terms of a deficiency or an opportunity. Formal economic models of decision-making often begin with the assumption that we are inclined to make choices that leave us as well off as possible. However, research and experience show that we often make choices that are either suboptimal or opposed to our best interests
Research also suggests that two forms of mental operations are involved in decision making: one is rational, systematic and analytical while the other is effective, instinctive and intuitive. Therefore, to make more optimal choices, we must understand how these dimensions interact in time-bound and uncertain contexts.
Key Learning Outcomes
This online course will equip you with the knowledge required to develop your decision-making skills in today’s world. At the end of the course, you will be able to:
- Understand the context of a decision
- Analyse and generate options for solving problems
- Evaluate said options
- Choose the most plausible option that will help make an informed and rational decision
- Collect feedback on your solution to determine the effectiveness of your decision
- Module 1: Rational decision making
- Module 2: Problem analysis and diagnosis
- Module 3: Cognitive biases in decision making
- Module 4: Decision making in a complex and uncertain world