Corporate Resilience and Decision Making

by

At times of immense pressure, like now, businesses make decisions that affect their whole future. This course looks at how to optimise our decision making to cope now, and with any future shock that could be thrown at us.

£100 +VAT

4 CPD hours

120 days’ access

Use ACPD101 for 10% off any purchase.

Corporate Resilience and Decision Making

£100 +VAT

4 CPD hours 120 days’ access
Use ACPD101 for 10% off any purchase.

Corporate Resilience and Decision Making

This course is not currently available. To find out more, please get in touch.

This course will enable you to

  • Make good decisions even when under pressure
  • Understand and use appropriate decision making methods to solve problems and make good choices
  • Understand how biases, preconditions and assumptions can impact decision making
  • Avoid common pitfalls and mistakes in the decision making process
  • Establish the optimal decision making systems and structures to ensure you can respond rapidly and robustly to any future shocks.

About the course

At times of immense pressure, businesses can make decisions that affect their whole future, and sometimes those decisions can be bad ones. The coronavirus pandemic wiped out whole businesses before they even had a chance to react. It’s critical that we think about the way that we make decisions, so that we can develop a plan for the future, and so that we can respond robustly and rapidly to any future shocks.
This course looks at the way that we make decisions, how sometimes we make bad decisions, some common mistakes and traps we can fall into, and how we can develop a methodology to optimise our decision making to cope with any future shock the world may throw at us.

Contents

The decision making process

Cause and effect
Decision making and problem solving
Naturalistic decision making
Rational models of decision making
Adaptive decision making
Analysis paralysis
Trust the process
Making decisions in risky or uncertain conditions
Risk analysis
Decision trees

How to make bad decisions

Bad decisions
Avoiding regret
Preconditions affecting the decision making process
Overconfidence and the illusion of control
Leaping to conclusions
The normalisation of deviance
Recognising bias
Biased thinking

Avoiding the traps

Your role
Don’t fall into the traps
Behavioural issues
You’ve been framed
Framing
Loss aversion
Peer pressure

Optimising decision making

Knowledge is power
Making good decisions
Emotional intelligence
Knowns and unknowns
Preventing near misses
Checking the process
Assessing the process
Overconfidence and the illusion of control
Overcoming framing bias

How it works

Author

John Taylor

John Taylor

John is a Chartered Accountant who has spent many years advising small and medium-sized businesses across the North of England. John is the author of two industry standard textbooks: Millichamp – Auditing and Forensic Accounting. He has also written several auditing textbooks for AAT courses.