How to screw up less when it matters most: Olivier Sibony

PodcastJanuary 26, 2021
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Everything that I’m talking about here is about the important decisions, whether they are the once-in-a-lifetime strategic decisions, or the big merger or the recurring strategic decisions, the new product launches, the big R&D decisions, the big investments. All large organizations make a number of strategic decisions. They don’t just make one strategic decision every couple of years. They make a number. I’m not going to say how many, but it’s dozens, it’s not hundreds of strategic decisions every year. That’s what I’m talking about.

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Intro

In this episode of The Decision Corner podcast, Brooke is lucky to be joined by Olivier Sibony. Olivier is a thoroughly experienced strategic consultant and a learned researcher on applied behavioral science at the most senior level. He has 25 years of experience at McKinsey and Co. that inform his investigation into successful practices and common pitfalls of organizational behaviour. This conversation brings Olivier’s insights to bear on the issue of decision-making in the C-suite. He draws out some essential guidelines, both from anecdotes and focused research, which culminate in applicable strategies to make any group better able to accomplish its goals. Some of the topics we discuss include:

  • How countering individual cognitive biases may be the secret to a successful corporation
  • Implicit guidelines in the social order of any organization
  • Some apparent paradoxes in the patterns of risk aversion and risk-seeking behaviour in the business world
  • Small vs big risks and how to engineer the right risks at the right times
  • The all-consuming morass of corporate culture
  • Searching for a portfolio approach towards risk: getting in front of the situations that dictate organizational success
  • Which decisions are the important ones, and the case for bureaucracy

About the Guest

Olivier Sibony

Olivier Sibony

Olivier Sibony is a professor, writer, and keynote speaker specializing in the quality of strategic thinking and the design of decision processes. Olivier teaches Strategy, Decision-Making, and Problem Solving at HEC Paris. He is also an Associate Fellow of Saïd Business School at Oxford University. Previously, Olivier spent 25 years with McKinsey & Company in France and in the U.S., where he was a Senior Partner. There, he was, at various times, a leader of the Global Strategy Practice and of the Consumer Goods & Retail Sector. Olivier’s research interests focus on improving the quality of decision-making by reducing the impact of behavioral biases. He is the author or co-author of numerous scientific articles in peer-reviewed journals and he builds on this research and on his experience to advise senior leaders on strategic and operational decision-making. He is a frequent keynote speaker and facilitator of top management and board meetings. He also serves as a member of corporate, advisory, and investment boards.

About the Interviewer

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Dr. Brooke Struck

Dr. Brooke Struck is the Research Director at The Decision Lab. He is an internationally recognized voice in applied behavioural science, representing TDL’s work in outlets such as Forbes, Vox, Huffington Post and Bloomberg, as well as Canadian venues such as the Globe & Mail, CBC and Global Media. Dr. Struck hosts TDL’s podcast “The Decision Corner” and speaks regularly to practicing professionals in industries from finance to health & wellbeing to tech & AI.

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