5.1 Board decision making

Question 1

What is evidence based practice?

Answer 1

The coscientious, explicit and judicious use of the best available evidence from multiple sources to increase the likelihood of a favourable outcome.

Question 2

Decision making theory has shifted from its classic rational e__________ model to one that is underpinned by the understanding that people and groups are predictably i___________

Answer 2

economics

irrational

Question 3

Boards, like many other spheres of industry may benefit from a d_______-making approach that utilised e_________-based practice

Answer 3

decision

evidence

Question 4

In order to be more evidence-based, d_________ must become aware of and put into place processes to mitigate the variety of individual and group b________ to which we are prone.

Answer 4

directors

biases

Question 5

There are specific issues associated with boardroom decision making to consider such as the s___ of the board, quality of board and committee meetings, board d________, l__________culture and s___________ conversations.

Answer 5

size
diversity
leadership
stakeholder