Personal Site of Bill Hall

Accelerating Corporate Change Using Technology and Learning

What Execs Are Saying About T&D Needs

Strategic-Training

This is common: End of year slow-down at work. It is a wonderful time for me to clean-up, think, reach-out, and get caught up on the thousands of things that don't get done during the year. For those that have never run a training program, let me share a little insight: It is far more work than it looks like. As a result, our office looks like a war zone: Computers need updating with a good month of organization usually needs to happen. Thus, this is a great time of the season.

During this time is usually when I reach out to executives inside large companies to catch up, listen to trends, and get a pulse on what they're thinking for the following year. This year, more than ever, I am hearing a very consistent theme:

Training Needs To Apply Directly To Business Outcomes

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Game Theory vs. Behavioral Economics vs. Game Mechanics

business-game-theores

When I'm talking with perspective customers, I often have to reference economic game theory, behavioral economics, and game mechanics. You can practically hear them fog over in boredom and discomfort about where the discussion is going. A couple sentences later, most are very interested in what all this means, why/how it applies, and how it can actually be used. This is a short article about what,why, and how. Here goes:

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Behavioral Economics Demonstrates Need for Business Strategy Gamification

behavior_syndromes

Behavioral Economics Demonstrates The Need for Business Strategy Gamification
First, it’s important to set a foundation by defining behavioral economics. BE studies the effects of psychological, social, cognitive, and emotional factors on the economic decisions of individuals and institutions and the consequences for market prices, returns, and resource allocation, although not always that narrowly, but also more generally, of the impact of different kinds of behavior, in different environments of varying experimental values. (source: Wikipedia). I have to say that this is actually a pretty easy to understand and overall nicely laid out description of such a complicated topic.

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