Who is Sheena Iyengar?
Sheena S. Iyengar is the inaugural S. T. Lee Professor of Business in the Management Division of the Columbia Business School. She is also Rated as one of the ‘Worlds 50 best B-School professors’ by Poets and Quants.
Growing up in a Sikh-American family, the business professor became fascinated with decisions. As she gradually grew blind, she wondered how much her own choices would be diminished. Most of her research, thus is about ‘choices’. She is also known for her book – The Art Of Choosing.
What does the talk say?
The talk in summary says just these things:
– There are 3 main consequences of offering people too many choices:
- Engagement – they tend to procrastinate
- Quality – Make worse choices
- Satisfaction – they are less happy with their choice, even if their decision is objectively better.
– This choice overload can be prevented by using these 4 techniques:
- Cut – reduce the redundant options.
- Concretisation – Relate a decision in terms that mean something.
- Categorisation – Reduce the objects into categories that mean something to the chooser.
- Condition for Complexity – Gradually increase the complexity.
Why are we recommending this talk to you?
Ever heard of paradox of choice? Most of us as consumers face this problem on an everyday basis. But what is most interesting (and highlighted in this talk) is that this paradox effects executives too!
Honestly, when we began M.O.M we had nothing but great content in mind. Options like merchandising, publishing, gaming, etc were all thrown our way. We tried many but soon realized that LESS IS MORE.
What helped us decide? – Videos like this. Try it!
And now – The Video!
Happy Wednesday to you!