Bias busters: A better way to make decisions

Despite their best intentions, executives can often fall prey to cognitive and organizational biases that get in the way of good decisions.

A host of universal human biases, such as over-optimism about the likelihood of success, can lead business decisions astray. Most companies know this, but few can systematically identify and address harmful patterns of distortion that can affect their strategy discussions.

Join our webcast on Wednesday, January 23, 10:00 a.m. to 11:00 a.m. EDT/3:00 p.m. to 4:00 p.m. GMT, as McKinsey partner Tim Koller and business professor Dan Lovallo explain how to address two of the most common biases: failing to take the “outside view” when it comes to evaluating strategic options and getting stuck on last year’s numbers during this year’s budget discussions.

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About the presenters

Partner, New York

Tim Koller

Tim leads McKinsey’s Strategy & Trend Analysis Center, the firm’s hub for financial and capital-market analysis and valuation. He is the founder of journal McKinsey on Finance and the lead author of Valuation: Measuring and Managing the Value of Companies (John Wiley & Sons, 1990). Tim received his bachelor’s degree from Loyola Marymount University and his master’s degree from the University of Chicago Booth School of Business.
Professor, University of Sydney

Dan Lovallo

Dan is a professor of business strategy at the University of Sydney; a senior research fellow at the University of California, Berkeley; and an adviser to McKinsey. Through research, he has developed a number of insights into what is now called “behavioral strategy.” Dan holds a PhD in behavioral economics and decision sciences from the University of California, Berkeley.