DECISION-MAKING EXECUTIVE TRAINING, an example of what you may learn about in a training session:
All trainings include how the bias and flaws apply to business decision-making and what to do to keep them under check:
+ Confirmation bias: the tendency to look out and consider only information that confirms our prior beliefs and disregard information that contradicts our beliefs.
+ What you See is All There Is (WYSIATI): the tendency to assume that the information we have about something is the only information that exists, thus disregarding that there is likely information that we do not know.
+ Availability bias: the tendency to believe that something is true or more important because something is memorable.
+ Thinking fallacies, such as the tendency to create narratives and mental models about situations and people. That is, the mind uses some of the facts available and fills in gaps with assumptions which are not necessarily backed up by evidence or even statistically probable.
+ Endowment effect: the tendency to overestimate the value and importance of what we own and preference towards not giving it up, even when it is irrational not to do so (for this reason often advertising is phrased as "don't miss out on this offer now available", rather than "take advantage of this offer").
+ Sunk cost fallacy: sometimes costs and expenses cannot be recovered; these are "sunk costs". People tend to make future decisions attempting to "save" past sunk costs even though these cannot be recovered.
+ Superforecasting: scientifically proven characteristics of more accurate decision-making.
These are just examples of common decision-making fallacies that can be covered. I always discuss with my clients what they want to achieve and tailor the training to their business needs and their goals.
Follow-on support is always included to help my clients with any questions and to support them in their progress.