2-Day Program

Strategic Decision Making

The art and science of decision-making

About the program

Decision-making is arguably the most critical job of a manager and bad choices can damage careers and the bottom line. This 2-day session explores the blending of the art and the science of decision-making into a practical process that enable you to consider your choices both intuitively and analytically. It will further enable you to understand how your decisions can have ramifications across the entire organization.

This Program will enable you to:

  • Learn how successful managers and business leaders make their decisions and understand prescriptions for positive decision-making practices in the future
  • Discuss and build a framework for both strategic and tactical problem-solving – an asset for any managers faced with making important decisions about their businesses
  • Understand the impact of your decisions across the organization

Who should attend

Senior managers from all functional areas involved in strategic and major tactical decision-making.

You might also be interested in: Leadership, Strategic Analytics, Strategy

Personal benefits

  • Avoid common biases to arrive at and implement decisions that are both effective and ethical
  • Blend the art and science of decision making into a practical process
  • Increased responsiveness to internal and external customer needs
  • Heightened business literacy and financial acumen
  • Deep understanding of the overall business impact of financial decisions

Organizational benefits

  • Make effective decisions in uncertain and risky environments
  • Avoid decision-making traps and resolve decision-making bottlenecks
  • Ensure that decisions are made at the right level in the organization
  • Improved productivity through better teamwork, communication and coordination
  • Alignment around the “big picture” and a deeper level understanding of strategy and tactical initiatives
  • Better decisions for optimal allocation of limited resources
  • Increased responsiveness to internal and external customer needs
  • Heightened business literacy and financial acumen

Day 1 – Decision Making Framework (Salman Mufti)

During Day 1, participants will examine strategic decision making, as well as study managerial and organizational decision processes in the context of breakthrough research from business management, behavioural economics and cognitive science. In this interactive session—with briefings, case studies, exercises—participants will explore decision making challenges, especially in uncertain and changing business situations, and consider a framework for making effective decisions.

On Day 1, participants will:

  • Learn how to analyze uncertain and complex industry and business environments, and discuss the risks of under- and over-analysis.
  • Study the role of intuition and judgment in strategic decision making, as well as look at inherent biases and traps in such approaches.
  • Through case study discussion, analyze decision making situations, and evaluate feasible alternatives and criteria.
  • Learn how to blend the art and science of decision making into a practical framework for solving strategic problems.
  • Consider barriers and bottlenecks that can bog down decision processes, and discuss approaches for improving the efficiency and quality of organizational decision making.

Day 2 – Decision Making Simulation (Paul Roman)

During Day 2, the lessons and frameworks covered during Day 1 will be put to work. Participants will work in small teams to select the best strategy to turnaround a struggling organization. A simulation exercise will enable decision making to continue into the execution of the strategy as teams learn the advantages and challenges of a balanced scorecard approach to define, monitor and track performance while making course corrections over several simulated years.

On Day 2, participants will:

  • Learn how to use the balanced scorecard to define strategy, implement strategy, and measure strategic execution.
  • Understand that a strategy is more likely to be effective if the initiatives chosen and implemented are synergistic with each other and mutually supporting of the strategy.
  • Explore the strengths, weaknesses and potential pitfalls of the balanced scorecard approach.
  • Recognize that financial metrics are often lagging, volatile, and non-controllable measures of performance.
  • Appreciate the importance of interrelated non-financial metrics to provide leading indications of performance to allow for timely corrective action.

Salman Mufti is the Associate Dean and Executive Director of Smith School of Business Executive Education.  In addition, Salman is an Associate Professor of Management Information Systems at Smith School of Business.  He is an award-winning teacher and has extensive domestic and international teaching experience in both degree and non-degree executive education. He is a former Director of Queen's Executive MBA and of Queen's Full-time MBA. He regularly advises senior managers in corporations and the public sector, and is frequently featured in the press on matters relating to managerial decision making and technology strategy.  He has consulted with numerous organizations including Bell Canada, Sun Life Insurance, Canadian National Railway, Accenture, and Business Development Bank of Canada.

During his 20-year military career in Communications and Electronics, Paul commanded the Canadian Army's only electronic warfare squadron. He also served as Director of the Canadian Army Experimentation Centre, where he conducted studies to assist the Army in making capability development decisions, putting him at the forefront of validating most of our modern military decision support and command support practices. Since leaving DND in 2001, Paul has pursued an academic career at both The Royal Military College and currently at Smith School of Business where he is an Associate Professor of Management Science specializing in Operations Management. He has also been an active consultant and facilitator in the development of two Army Campaign Plans and the Canadian Forces Transformation Campaign Planning Team. Paul has two research awards and numerous teaching awards to his credit and is a partner at Strategic Red Team Consulting headquartered in Ottawa. Since July of 2011 Paul has been the Director of the Executive MBA Americas Program.

Enroll Now
Katie Parks

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Call 1.888.393.2338 or
Monday to Friday. 8:30 am - 4:00 pm EDT

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Upcoming Sessions

    Toronto, Ontario, Canada

    SmithToronto
    200 Front Street West, 30th Floor
  • Oct 1 to Oct 2

Fees

$3,300 CAD (plus applicable taxes)