Behavioral Strategy Primer (PowerPoint PPT)

DESCRIPTION

What is Behavioral Strategy?

First, to understand Behavioral Strategy, we must first examine the concept of Cognitive Biases. There are 2 different types of biases in people that cause them to stray from rational decision making: cognitive and emotional. Cognitive biases arise due to incomplete information or the inability to analyze the available data. These preconceived notions can be categorized as either Belief Persistence or Processing Errors.

This PowerPoint presentation on Behavioral Strategy begins with an explanation of Cognitive Biases and identifies the 9 most common Cognitive Biases. The purpose of Behavioral Strategy is to mitigate against our cognitive biases.

However, research reveals that executives tend to overlook human biases while making decisions. These biases cause the people to move away from rational decision making. In order to better manage these tendencies, executives need to identify the biases prevalent in their organizations and embrace practices to minimize their bearing on strategic decisions. This is where Behavioral Strategy comes in.

To understand and develop an effective Behavioral Strategy, we first examine the 5 building blocks of Behavioral Strategy. They provide key principles and practices to neutralize Cognitive Biases. These building blocks represent specific counter actions leaders should take to remove potential biases.

This Behavioral Strategy PPT also presents a 4-step approach to adopting Behavioral Strategy in Decision Making:

1. Determine the Decision That Warrants the Effort
2. Identify the Biases Most Likely to Impact Important Decisions
3. Select Practices and Tools to Counter the Most Relevant Biases
4. Embed and Operationalize Practices in Formal Processes

This approach leverages better decisions and engaged managers. Each step is explained in depth. To truly improve decision making and overcome biases, we need to follow this structured approach to formulate and implement an actual Behavioral Strategy.

This Behavioral Strategy PPT deck also includes some slide templates illustrating the 5 Building Blocks of Behavioral Strategy and the 4-step Approach to Behavioral Strategy. In fact, you can re-purpose the majority of these Behavioral Strategy slides in your own business presentations.

This presentation provides a comprehensive overview of the 9 most common cognitive biases and the 5 core building blocks to mitigate them. It also includes actionable templates that can be easily repurposed for your own strategic initiatives.

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Source: Best Practices in Decision Making, Cognitive Bias, Behavioral Economics PowerPoint Slides: Behavioral Strategy Primer PowerPoint (PPT) Presentation, LearnPPT Consulting