Biases in Decision-Making

Understand the ways in which your mind, personality, and social structures can degrade your decision-making.

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Overview

The human mind isn’t wired to make high-quality decisions. Because of how our minds work, errors and pitfalls keep us and our colleagues from making decisions that add the most value. Understand how natural behavioral processes lead to biases, distortion and mistakes. Explore the preventive measures and techniques you can use to reduce these biases, improve individual decisions and enrich organizational decision processes.

Strategic Decision and Risk Management

Clarify problems, explore available options, develop a structured framework, understand the impact, and commit to your choice.

Two & Half Day Concentrated Program

Registration begins 30 minutes before class starts. Classes beginning on Monday start at 8:00 am and conclude at 12:00pm on Wednesday. Classes beginning on Wednesday start at 1:00 pm and conclude at 5:00 pm on Friday.

Strategic Decision Professionals

Our partnership with SDG combines UT's academic research and SDG's real-world experience in decision consulting to create an unmatched learning experience.

Benefits

  • Discover six categories of biases that produce most of the mistakes in decision making
  • Discuss how overconfidence, confirmation bias and hindsight bias can keep us from seeking critical information and making realistic judgments
  • Understand the limiting effects of unconscious self-serving biases in yourself and others
  • Examine five types of associations we use to make judgments which can be misleading
  • Recognize the distortions created by relative comparisons and simplification
  • Anticipate how capacity on perception, attention, memory, reasoning and choice influence our decisions
  • Balance conflict and cooperation to minimize the negative effects and increase the positive influences of group dynamics
  • Develop a personal action plan for counteracting natural decision problems and reducing the impact of negative decision behaviors in your organization

Additional Information

Prerequisites:None
CEUs: Participants earn 1.75 CEUs and/or 17.5 CPEs for this course. A certificate of completion will be presented from Texas Executive Education.
Course Credits: 1.50
Hotel Information: Texas Executive Education classes qualify for discounted hotel room rates at the AT&T Executive Education and Conference Center on a limited basis. Discount code will be provided on the course materials page after class registration is complete.


Faculty

Art Markman

Dr. Art Markman is the Annabel Irion Worsham Centennial Professor of Psychology and Marketing at the University of Texas at Austin. He is also the Founding Director of the Program in the Human Dimensions of Organizations.

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Jennifer Meyer

Dr. Jennifer Meyer is Senior Engagement Manger at Strategic Decisions Group and has over 25 years of experience as an educator and strategy consultant.

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Carl Spetzler

Dr. Carl Spetzler co-founded Strategic Decisions Group in 1981 and currently serves as chairman and CEO. He is a leader in strategy and innovation processes, helping corporate leaders cope with the lack of explicit strategic alternatives, deal with the complexities of uncertainty and risk over long time horizons, and achieve lasting change.

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Raghunath Rao

Raghunath Singh Rao is an Associate Professor affiliated with McCombs School of Business at the University of Texas at Austin.

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Julie Irwin

Dr. Irwin is the Marlene and Morton Meyerson Centennial Professor of Business at the McCombs School. In addition to the University of Texas, she has served on the faculty of the Stern School of Business at New York University and the Wharton School of the University of Pennsylvania.

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Course Details

Price: $3,495.00

There are no sessions scheduled at this time. For more information about the next class date, please contact us at execed@mccombs.utexas.edu or 512-471-5893.