Strategic Decision Making & Problem Solving
Effective decision-making and problem-solving are critical to organizational success. Research by McKinsey shows that organizations making high-quality decisions can potentially improve their performance by up to 20%, while poor decision-making can cost companies as much as $250 million annually in wasted resources. However, individual outcomes will vary, and these figures are not guaranteed for all organizations.
This course equips participants with the frameworks and tools needed to analyze complex situations, make informed decisions, and solve problems efficiently to drive long-term success.
Class Topics:
Foundations of Strategic Decision Making
Learn the principles of effective decision-making and how to balance risk, reward, and organizational goals.Problem-Solving Frameworks
Explore structured approaches to solving complex business problems, including root-cause analysis and solution development.Evaluating Risks and Trade-Offs
Develop the ability to evaluate risks, weigh options, and make decisions that align with your organization's overall strategy.Decision-Making in Uncertain Environments
Learn how to navigate uncertainty and make decisions that support long-term sustainability in volatile markets.
Assignments/Projects (Even Class Weeks):
Week 2: Analyze a recent business decision or problem and evaluate the decision-making process used.
Week 4: Develop a problem-solving framework for a real or hypothetical business challenge and propose a solution using proven, problem solving tools.
Week 6: Create a risk assessment for a strategic decision, identifying potential trade-offs and outcomes.
Week 8: Participate in a decision-making simulation that requires evaluating risks, solving problems, and proposing strategic actions.
Common Work Problems Addressed:
Inefficient Decision-Making: Slow or poor decision-making can lead to missed opportunities and wasted resources.
Unresolved Problems: Failure to properly address and solve problems can create bottlenecks that hinder progress.
High Risk Exposure: Without a clear risk evaluation process, organizations may expose themselves to unnecessary risks.
Skills You’ll Learn:
How to use structured decision-making frameworks to improve outcomes.
Techniques for analyzing complex problems and developing actionable solutions.
Risk assessment strategies to evaluate trade-offs and reduce uncertainty.
Benefits:
Improved Decision Quality: Make smarter, faster decisions that align with organizational goals.
Efficient Problem Solving: Solve problems more effectively to minimize disruption and increase productivity.
Risk Mitigation: Reduce exposure to risk by evaluating decisions with a clear, strategic approach.