Mastering Decision-Making: Strategies for Risk, Finance, and Execution

Introduction:

Decision-making is a crucial aspect of managerial roles, encompassing scenarios with varying degrees of certainty, risk, and uncertainty. Despite its importance, many managers lack formal training in effective decision-making techniques.

This Mastering Decision-Making: Strategies for Risk, Finance, and Execution course is designed to bridge this gap by equipping participants with essential decision-making models and methods. The course aims to enhance the quality of managerial decisions by illustrating response techniques, strategies, and other decision-making processes to improve success rates, effectiveness, and management of biases related to uncertainty and risks.

Participants will gain hands-on experience with business decision-making processes, tools, and strategies, enabling them to navigate the complexities of managerial decisions more effectively.

Objectives:

By the end of this Mastering Decision-Making: Strategies for Risk, Finance, and Execution course, participants will be able to:

• Define various decision-making models and terminology.
• Access, collect, and utilize necessary information for informed decision-making.
• Apply risk-based methods in business decision-making scenarios.
• Demonstrate fundamental financial literacy skills for decision analysis.
• Utilize appropriate techniques and tools for effective decision execution.

Training Methodology:

• Lectures
• Case Studies
• Group Discussions
• Interactive Workshops
• Simulations
• Role-Playing
• Data Analysis Activities
• Q&A Sessions

Course Outline:

UNIT 1: Discourse on Decision Making

• Critical analysis of business decision-making during transformations.
• Comparison of traditional and alternative decision-making approaches.
• Engagement with Townsend’s principles.
• Application of the RAPID strategy in decision implementation.

UNIT 2: Using the Database to Improve Decisions

• Assessing support and opposition using Lewin's force field analysis.
• Performing scenario analysis to anticipate outcomes and consequences.
• Influencing stakeholders using decision-making maps.
• Addressing the politics involved in decision-making.

UNIT 3: Decision Making Under Risk

• Utilizing the risk impact/probability chart for decision relevance.
• Understanding the role of risk/impact probability charts in decision making.
• Conducting decision tree analysis for complex scenarios.
• Practical exercises in decision-making processes.

UNIT 4: Financial Literacy for Decision Makers

• Analyzing capital budgeting’s role in decision making.
• Examining Accounting Rate of Return (ARR) and its usefulness.
• Evaluating the payback period and its application in decision making.
• Understanding Net Present Value (NPV) and Internal Rate of Return (IRR) for higher-level decisions.

UNIT 5: Executing Your Decisions Effectively

• Applying the Rounds Trap model for persuasive decision-making.
• Using the guided improvement cycle or Shewhart’s PDCA model for decision execution.
• Engaging in exercises to address business decision-making problems.
• Reviewing and applying decisions from projects undertaken.