How do managers deal with decision-making dilemmas? In this one-hour masterclass with an academic and/or postgraduate ambassadors, students will develop their understanding of strategic decision making. They will think critically about the impact of external and internal factors on the continued cost effectiveness of a strategy and the need for responsive strategy. How do managers decide when is the right time to change strategy after the investment of time, money, and resources (known as the sunk cost fallacy)?

Curriculum Links:

• Business (Key Sage 4/ Level 2) – External influences on Business
• Economics (Key Sage 4/ Level 2) – costs and benefits
• Business (Key Stage 5/ Level 3) – market conditions and competition
• Economics (Key Stage 5/ Level 3) – sunk costs and contestability

Gatsby Benchmarks:

Masterclass: 1, 3, 4, 7

Taster Day: 1, 2, 3, 4, 7

Make it a Taster Day: Includes a campus tour and HE information talk. You can choose this when you complete the booking form.