Decision-making is like being the captain of a ship in a foggy ocean – except the crew keeps yelling conflicting advice, the compass is spinning wildly, and you’re pretty sure that iceberg over there is a metaphor for your career. AI? It’s the lighthouse guiding you through the madness. Decision-Making: Before AI Ah, the good ol’ days of decision-making,…
Week 14: Leadership and Communication in Decision-Making Overview This module explores leadership’s role in decision-making, the significance of communication in implementing decisions, and how leaders manage and engage stakeholders. Leaders must balance rational analysis, ethical considerations, and stakeholder expectations when making decisions. The effectiveness of their leadership is often determined by how well they communicate decisions and navigate stakeholder…
Week 13: Strategic Decision Making in Practice Lesson Title: Applying Strategic Decision-Making Skills to Real-World Scenarios Introduction: Bridging Theory and Practice Strategic decision-making is not just about understanding concepts; it’s about applying them effectively in real-world contexts. In this lesson, we will delve into case studies, engage in collaborative group projects, and apply decision-making tools and techniques to realistic…
Week 12: Behavioral Decision Making Lesson Title: Understanding and Improving Decision-Making in Strategic Contexts Introduction: The Complexity of Decision-Making Decision-making is an integral part of personal and professional life. Yet, even the most experienced decision-makers are not immune to psychological biases and heuristics that shape their choices, often unconsciously. These mental shortcuts, while useful in simple scenarios, can result…
Week 11: Game Theory and Strategic Interactions Lesson Overview This lesson introduces the principles of game theory and how it applies to strategic interactions in business. Students will learn the basics of game theory, explore how competitive strategies are formulated based on strategic interactions, and analyze real-world applications of game theory in business decisions. The goal is to equip…
Week 10: Risk Analysis and Management Lesson Overview This lesson will focus on the critical aspects of risk analysis and management, essential components of strategic decision-making in any organization. Students will learn how to identify and assess risks, explore different risk management frameworks and strategies, and make informed decisions under uncertainty. The goal is to equip students with the…
Week 9: Data-Driven Decision Making Lesson Overview This lesson will explore the critical role of data in strategic decision-making. Students will learn about the importance of using data to drive decisions, various data collection and analysis methods, and how to integrate data analytics into the decision-making process effectively. The goal is to equip students with the knowledge and skills…
Week 8: Decision Trees and Scenario Planning Lesson Overview This lesson focuses on Decision Trees and Scenario Planning, two powerful tools for strategic decision making. Students will learn about the structure and application of decision trees, techniques and benefits of scenario planning, and will analyze case studies to understand practical applications of these tools. Learning Objectives By the end…
Week 7: Balanced Scorecard Lesson Overview This lesson will delve into the Balanced Scorecard, a strategic planning and management tool that helps organizations translate their vision and strategy into actionable objectives. Students will learn about the Balanced Scorecard framework, how to develop perspectives for it, and how to use it for strategic management to enhance organizational performance and alignment….
Week 6: Porter’s Five Forces Lesson Overview This lesson focuses on Porter’s Five Forces model, a strategic tool used to analyze the competitive forces within an industry and understand its structure and dynamics. Students will learn the components of the model, how to analyze industry structure and competitive dynamics, and how to apply the model in strategy formulation to…
Week 5: PESTEL Analysis Lesson Overview This lesson focuses on the PESTEL analysis, a strategic tool used to identify and analyze the macro-environmental factors that can impact an organization. Students will learn the importance of PESTEL analysis, how to conduct one, and how to integrate the findings into strategic decision-making processes to enhance organizational planning and performance. Learning Objectives…
Week 4: SWOT Analysis Lesson Overview This lesson focuses on the SWOT analysis, a strategic planning tool used to identify and evaluate the Strengths, Weaknesses, Opportunities, and Threats of an organization or project. Students will learn the importance of SWOT analysis, how to conduct one, and how to apply the findings in strategic planning to enhance decision making and…
Week 3: Decision-Making Models and Frameworks Lesson Overview This lesson will provide an in-depth exploration of various decision-making models and frameworks. Students will learn about the rational decision-making model, bounded rationality and satisficing, the incremental decision-making model, and the garbage can model of decision making. The goal is to understand the strengths and limitations of each model and how…
Foundations of Strategic Decision Making 1. Introduction to Strategic Decision Making Definition of Strategic Decision Making: Strategic decision making involves long-term planning and setting directions for an organization, with a focus on achieving major goals and initiatives. It encompasses decisions that have significant impacts on an organization’s future, resource allocation, and market position. 2. Definition and Scope of Strategic…
“Strategic Decision Making: Tools and Techniques” Course Introduction and Overview Strategic decision making is a critical skill in business, enabling leaders to navigate complex environments and make choices that drive long-term success. This course, “Strategic Decision Making: Tools and Techniques,” is designed to provide a comprehensive understanding of the strategic decision-making process, equipping students with the knowledge and tools…
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