Risk Taking and Decision Making for Poker Business and Life
Even as we start to climb out of the worst economic slump of living memory, “Risk” has become a subject very close to all our hearts. The fact is that whether you make a living playing poker, trading Sterling in the markets, planning next year’s training budgets, managing junior executives, marketing FMCG, or negotiating with regulators... risk plays a role in YOUR LIFE!
Why? Because whenever we take a decision... we are effectively taking a risk. And we do that hundreds, if not thousands, of times every day! The good news is that there is a science of risk, and decision making, which is illuminating for anyone who has to make decisions in their professional lives. My role as a corporate speaker is to make this science interesting and accessible to people who don’t happen to have a PhD in applied mathematics.
Participants will leave with:
- A better understanding of what “risk” is and how it is calculated in its essential form. This calibrated mathematical language is based on an understanding of what a decision is: the investment of scarce resources with the intention of yielding a long term return in the form of one or more scarce resources as a result.
- An understanding of how to apply this theory in practice in their own personal and professional lives whether that be in sales, innovation, management, continuous improvement, creativity, negotiation or delegation.
- An understanding of the cause of risk aversion among humans: why we are reluctant to embrace short term failures for long term gain (and, for that matter, why we do the opposite when we gamble.) An empowering method for using our own natural risk aversion as a motivational tool that can be used to drive ourselves or others to achieve better long term results in ANYTHING we do!