Product Council
A group of stakeholders that regularly meet to discuss and guide the development and strategy of a product or product line.
224 topics found for
“decision-making strategies”
Scarcity Principle
The economic theory that suggests limited availability of a resource increases its value, influencing decision-making and behavior.
Discounted Utility
A concept in behavioral economics that describes how future benefits are perceived as less valuable than immediate ones.
Inflection Point
A moment of significant change in a process or system, where the direction of growth, performance, or trend shifts markedly.
MINDSPACE
Messenger, Incentives, Norms, Defaults, Salience, Priming, Affect, Commitment, and Ego (MINDSPACE) is a framework used to understand and influence behavior.
Organizational Goals
The strategic objectives that an organization aims to achieve, guiding its operations and decision-making processes.
Probability Matching
A decision-making strategy where individuals allocate resources proportionally to the probability of an outcome occurring, rather than optimizing the most likely outcome.
Choice Paralysis
A situation in which an individual is unable to make a decision due to the overwhelming number of options available.
Active Choice
A decision-making strategy where individuals are prompted to make a choice rather than defaulting to a pre-set option.