Choice Architecture: Designing the Decision Making Environment for Results

October 18–19, 2017 $2,700

Business leaders are faced with the need to make decisions every day. To succeed, they need to be able to understand what information is required and how to structure information in order to generate the best possible decisions from customers, organization stakeholders, or senior management.

For example:

  • A purchasing manager has come across new information that may change the continued investment in a costly capital expenditure. How does he ensure that he’s not falling victim to default thinking that will lead him to potentially make a more costly decision in the long run?
  • A finance manager must help a client make sound investment decisions. How does she present information to signal a worthwhile investment choice?
  • A corporate growth manager has just completed a final round of interviews with three candidates. How can she can eliminate bias and make the best hiring decision for her organization?

In this new program, you’ll explore choice architecture and the inner workings of human biases and judgment. You’ll gain insights on how inherent bias or poorly structured information can significantly affect the decisions that are made for various business scenarios, such as what business strategy to employ, the potential to realize increased revenue, or how product information is structured on a website.

Through engaging case studies, discussion, and exercises, you’ll learn when and where flawed thinking can occur, how you can intervene, and how you can ultimately make smarter, more profitable decisions for your organization.

Program Benefits

    • Understand how heuristics and biases can affect the decisions you make everyday 
    • Explore the fast-growing fields of behavioral economics, behavioral insights, and behavioral decision making––and why they matter 
    • Discover the psychological factors that drive economic decisions––and how these impact your business and bottom line  
    • Understand how to leverage the power of “nudges” and behavioral interventions  
    • Improve your ability to forecast
    • Learn to optimize business outcomes through choice architecture

    Topics Covered

      Judgment

      • Human biases that affect judgment
      • Conscious and unconscious choice-drivers 
      • The effect of emotion on judgment
      • Judgmental errors that plague all organizations
      • Ways to “de-bias” judgment

      Decision Making 

      • Understanding of choice architecture 
      • Exploration of the origins of behavioral decision making
      • Perception of risk, its impact on choices, and how to better communicate it 
      • Decision making under uncertainty and what an ideal decision looks like

      Choice Architecture in Business  

      • How businesses and governments are using behavioral economics to design decision making
      • The promises and pitfalls of forecasting 
      • Experimentation and data to optimize performance
      • How to become an effective decision architect by redesigning the decision-making context

      Who Should Enroll

      The knowledge and skills in this program are applicable to anyone who is interested in bringing knowledge to their organization that could impact future business decisions. This program is designed for those in general management roles but would especially benefit those working in:

      • Marketing 
      • Market research 
      • Advertising
      • Product management 
      • Communications 
      • Public relations 
      • Sales
      • Finance and investment
      • Consulting  
      • Strategy

      Program Information

      Program Dates

      October 18–19, 2017
      Instructor: J. Peter Scoblic

      Class Times

      Programs run from 9 am to 5 pm

      Program Fee

      2017 Program Fee: $2,700

      Location

      Division of Continuing Education classrooms, One Brattle Square

      Instructor

       J. Peter Scoblic is a fellow in the International Security Program at New America, where he writes and speaks about prediction. Previously, he served as executive editor of Foreign Policy and The New Republic. He was also deputy staff director of the Senate Committee on Foreign Relations, where he was a nuclear weapons adviser and chief foreign policy speechwriter for Chairman John Kerry. He has written for publications from The New York Times to the journal Science, and in 2008 Viking Press published his book, U.S. vs. Them, an intellectual history of the modern conservative movement and its impact on American foreign policy. He received his A.B. in political science, with honors, from Brown University, and he is currently pursuing his doctorate in management at Harvard Business School.