Cognitive biases affect the most important strategic decisions made by the smartest managers in the best companies
The Case for Behavioral Strategy, McKinsey Quarterly
Designed as an introduction to critical and systems thinking, the course includes how to identify and construct strong arguments that support conclusions, and practical tools that can help in daily decision making. The course will benefit both those early in their professional careers and seasoned managers who must guide their teams to better decisions and outcomes.
BNNano of Burlington, NC is one of only two firms in the United States that manufacture high-purity boron nitride nanotubes, a very rare material with virtually unlimited applications from industry and the military to medical technology.
In less than one year, the BNNano founders started the firm, funded their venture through a private raise, set up manufacturing and closed their first customer orders. They had created a great product in record time and were ready to get the word out and support their sales activities.
A startup company with a new product and restricted resources, BNNano was facing challenges that are typical of many such firms today.
Diversity and Inclusion (DI) is a high-interest pursuit in corporate America today, in large part because the benefits can be substantial. According to a Forbes article, diversity and inclusion research has revealed that:
Inclusive teams make better business decisions up to 87% of the time.
Teams that follow an inclusive process make decisions 2X faster with 1/2 the meetings.
Decisions made and executed by diverse teams delivered 60% better results.
Even with the many benefits that diversity and inclusion offer, you may still be facing challenges in your DI initiatives.
Diversity Best Practices notes that newly recruited underrepresented employees are not staying with their employers very long, and people are neither working well together nor trusting each other across cultural lines. Further, DI training that was expected to improve understanding, awareness, and sensitivity to others has “yielded limited success.”
So how can simulated business training strengthen your Diversity & Inclusion initiatives?