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ASP NCA Presents: Why We Make Bad Decisions and How We Can Improve Strategic Decision Making
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ASP NCA Presents: Why We Make Bad Decisions and How We Can Improve Strategic Decision Making

This session will: open a window on the growing body of knowledge on mental biases, traps, fallacies and errors that inhibit making good strategic decisions; diagnose a few high-profile situations in which biases, traps, fallacies and errors led to very bad decisions and disastrous results; and offer insight on how to spot and avoid or remedy the most prevalent biases, traps, fallacies and errors to improve your and your organization's decision making and strategic outcomes for greater success.

 Export to Your Calendar 5/2/2017
When: Tuesday, May 2, 2017
6:00 PM
Where: North Highland
1501 Wilson Blvd
Suite 900
Arlington, Virginia  22209
United States
Contact: Patrick Behan
(571) 274-5933


Online registration is available until: 5/2/2017
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Bad Strategic Decisions: Why We and Our Organizations Make Bad Decisions and How We Can Improve Strategic Decision Making

With Lee Crumbaugh, SMP, Forrest Consulting

Seemingly smart leaders and organizations can make huge strategic errors. Consider these actions that led to bad outcomes:

  • Samsung introduced an exploding smart phone.

  • Marissa Mayer believed she could turn around Yahoo by using her experience at Google.

  • Volkswagen’s executives and engineers put software in diesel cars to cheat on emissions testing.

  • John Stumpf pushed an incentives scheme that led Wells Fargo bankers to open two million accounts without customers’ knowledge.

  • BP executives kept the massive Deepwater Horizon oil rig pumping despite warnings of blowout risks and a raft of evidence of faulty, inadequate and improperly installed equipment.

  • Richard Fuld led Lehman Brothers to double down on subprime lending and credit default swaps.

What led these leaders and organization to make such bad decisions? Consider mental traps, biases, fallacies and errors.

The evidence is clear that strategic planning improves organizational success. The common belief is that use of good process and a rational decision-making system will produce an effective plan and good decisions. So why, then, is it that most organizations don’t plan or plan poorly, or don’t implement their plans, or implement poorly?

What is generally unaccounted for in planning and decision making are mental traps that can skew even a good process and undermine rational decision making.

This session will:

  • Open a window on the growing body of knowledge being produced by behavioral economists, psychologists, sociologists, anthropologists and brain researchers on the hundreds of mental biases, traps, fallacies and errors that inhibit making good strategic decisions. 
  • Diagnose a few high-profile situations in which biases, traps, fallacies and errors led to very bad decisions and disastrous results.
  • Offer insight on how to spot and avoid or remedy the most prevalent biases, traps, fallacies and errors and ways to improve your and your organization's decision making and strategic outcomes for greater success.

 

 

Lee Crumbaugh, SMP, President, Forrest Consulting (www.forrestconsult.com) is Immediate Past President of the Association for Strategic Planning and author of AHEAD: Strategy is the way to a better future (Amazon paperback and Kindle e-book) and Big Decisions: Why we make them badly, how to make them better (in draft).

Lee has delivered management counsel, effective planning, and winning marketing, communications and business development programs to companies, associations and non-profit organizations in 50 industries and business segments.

He founded Forrest Consulting in 1988 and led it for eight years.  After 15 years in senior operating roles as a banker, trade association executive, publisher and United Way executive, he re-opened the firm in 2011.

 

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