PURPOSE OF THE WORKSHOP

Decision-making under conditions of uncertainty is one of the central and most important managerial activities. The purpose of the workshop is to empower participants with tools, techniques, processes and strategies for effective decision-making. Participants will  enhance the quality of their decision-making under conditions of uncertainty, competing objectives, and complicated constraints.

OVERVIEW

In this short program we will lay out foundations for recognizing a decision situation, understand its essential features, and obtain insights that makes clear what the appropriate action is and why. Specifically, participants will be actively engaged through interactive examples, exercises and cases, and will gain a workable understanding of standard decision analysis tools, ranging from decision framing and overcoming judgmental biases, to modeling uncertainty and making optimal decisions in complex settings.

WHO SHOULD ATTEND:

Any manager facing complex consequential decisions under risk/uncertainty could benefit from attending the program. Thus, the course could be of interest to mid to high level managers in a variety of industries. 

BENEFITS TO PARTICIPANTS:

• Learn how to apply critical thinking in decision-making, and supplement and complement intuitive heuristic approaches.
• Develop skills for improving decision-making by avoiding and correcting for cognitive biases.
• Learn methods for structuring and analyzing complex decisions. Learn how to model risk and uncertainty in the decision-making context.
• Embrace efficient decision-making processes and strategies for reaching optimal decisions in individual and group settings.
• Become an empowered decision-maker and learn how to strengthen decision-making in your organization.

CURRICULUM OUTLINE

• Understanding behavioral biases in individual judgment and decision-making
• Individual decision-making: decision framing, modeling uncertainty, structuring decision process.
• Tools for efficient team decision making.
• Decision-making in presence of conflicting objectives and in competitive settings.

FACULTY

Saša Pekeč is a faculty in the Decision Sciences area at Duke University's Fuqua School of Business, one of the world's leading business schools. He has won multiple awards for teaching in Duke's MBA and executive MBA programs.

Professor Pekeč research is interdisciplinary and revolves around decision-making in complex competitive environments, and includes work on multiple object auction design, subset choice and bundle valuations, preference elicitation and information aggregation. He has published articles in Management Science and Operations Research, as well as in top academic journals in other fields such as economics, mathematics and psychology. His work on combinatorial auctions had been widely cited and had influenced design of a new generation of now standard procurement auction procedures in a variety of industries.  

Professor Pekeč’s consulting experience includes banking, internet, pharmaceutical, retail, and telecommunications industries. He serves on the Supervisory Board of Atlantic Grupa, one of the leading FMCG companies in SE Europe. Professor Pekeč is a member of the Council of Economic Advisers to the President of Croatia.