The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

In this episode of The Brainy Business podcast, Melina Palmer is joined by Dr. David Daniels, a Presidential Young Professor at NUS Business School, as they dive into groundbreaking research on the value of gender diversity in companies. David discusses his extensive work that quantifies the impact of workforce gender diversity on company performance, revealing that a mere 1% increase in gender diversity can lead to significant financial gains—up to $152 million for tech companies and $18.7 million for financial firms. The conversation explores the long-standing debate around the business case for diversity, addressing challenges in establishing causality and the importance of using innovative research designs to uncover real-world insights. David shares how his unique approach utilizes stock market reactions to diversity reports from major companies like Google and eBay, providing a fresh perspective on how investors perceive and value diversity. In this episode: Discover the financial implications of gender diversity in the workplace and how it affects company valuations. Learn about the challenges researchers face in establishing causality in diversity studies. Explore the differences in investor reactions to diversity reports from tech and financial companies. Understand the psychological factors influencing investor behavior regarding diversity. Gain insights into the evolving discourse around diversity and its implications for organizations today. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/477. Looking to explore applications of behavioral economics further?  Learn With Us on our website: thebrainybusiness.com/learn-with-us/ Subscribe to Melina’s Newsletter Brainy Bites  Let’s connect: Send Us a Message: thebrainybusiness.com/contact/ Follow Melina on LinkedIn: linkedin.com/in/melinapalmer/ The Brainy Business on Youtube: youtube.com/c/thebrainybusiness The Brainy Business on Instagram: instagram.com/thebrainybiz/

In this episode of The Brainy Business podcast, Melina Palmer dives into the essential topic of setting up experiments in your business. While many organizations may shy away from testing due to intimidation or lack of experience, Melina shares her top tips to make experimentation accessible and effective. Drawing from her own academic and professional journey, she emphasizes the importance of small, focused tests that can yield significant insights without overwhelming your resources. Listeners will learn how to design experiments that provide clear evidence of what works and what doesn't, moving beyond gut feelings to data-driven decisions. Melina discusses the value of keeping experiments narrow in scope, being thoughtful in your approach, and testing frequently to foster a culture of continuous improvement. In this episode: Understand the importance of experimentation in making informed business decisions. Learn how to keep your experiments small and focused for better results. Discover the significance of being thoughtful in your testing approach and planning. Explore various testing methods, including A/B testing, to optimize your marketing efforts. Gain insights into analyzing both qualitative and quantitative data from your experiments. Get important links, top recommended books and episodes, and a full transcript at thebrainybusiness.com/476. Looking to explore applications of behavioral economics further?  Learn With Us on our website: thebrainybusiness.com/learn-with-us/ Subscribe to Melina’s Newsletter Brainy Bites  Let’s connect: Send Us a Message: thebrainybusiness.com/contact/ Follow Melina on LinkedIn: linkedin.com/in/melinapalmer/ The Brainy Business on Youtube: youtube.com/c/thebrainybusiness The Brainy Business on Instagram: instagram.com/thebrainybiz/

In this engaging discussion, Oliver Burkeman, a bestselling author known for '4000 Weeks' and 'Meditations for Mortals', shares profound insights on embracing mortality. He emphasizes how recognizing our finite time can inspire meaningful choices and personal growth. Burkeman introduces 'imperfectionism', encouraging listeners to act despite the messiness of life. The conversation also explores the value of accepting limitations, finding joy in daily challenges, and celebrating small accomplishments to create a fulfilling existence.

Discover the art of setting impactful goals that last beyond New Year’s resolutions. Learn why focusing on just three primary goals maximizes productivity while sidestepping distractions. Dive into practical strategies for breaking goals into tiny, manageable steps, and see how visualization keeps your ambitions front and center. Melina shares personal stories of balancing professional goals with family time, emphasizing the importance of clarity and support in achieving success. Transform your goal-setting approach today!

Barry Conchie, founder of Conchie Associates, and Sarah Dalton, a partner at the same firm, unveil their research on leadership effectiveness. They identify five critical talents that predict extraordinary performance in leaders. The discussion highlights the importance of innate traits in hiring over mere likability, urging organizations to reassess their selection criteria. Barry and Sarah emphasize the need for diversity in teams and the role of self-assessment in leadership development. Listeners will gain insights into crafting effective interview questions to find top talent.

Dr. Agnis Stibe, a leading expert in behavioral economics and transformation design, joins the discussion to illuminate the fascinating world of hyper-performance. He reveals how overcoming psychological barriers can lead to remarkable success, using the Stibe Method. The conversation dives into the role of AI in enhancing human decision-making and the power of social proof for punctuality in meetings. Agnis also shares innovative solutions like the lottery incentive for waste management, proving how technology can drive collective behavior change for cleaner urban spaces.

In this conversation, Ann Chow, the former CEO of AT&T Business and a trailblazer for inclusive leadership, shares her insights on what it means to 'lead bigger.' She discusses the need for empathy and understanding diverse identities in effective leadership. Ann emphasizes the shift in work culture post-pandemic, highlighting the importance of human connection and flexible leadership that integrates personal and professional lives. Listeners gain valuable perspectives on fostering belonging and inclusion while adapting to evolving workforce expectations.

Discover the transformative power of vulnerability loops in building trust and deeper connections. Embrace vulnerability as a leadership superpower that fosters openness within teams. Learn a five-step process to create meaningful relationships, both personally and professionally. Get practical tips on cultivating a safe environment for team communication. Find out how asking the right questions can lead to genuine connections and enhanced collaboration. Dive into insights that challenge the perception of vulnerability as a weakness.

Bob Gerard, Learning Ingenuity lead at Accenture and co-host of the Learning Geeks podcast, shares insights on transforming corporate training into engaging experiences. He introduces eight principles of durable learning, emphasizing relevance, engagement, and reflection. Bob explores how technology, including AI, personalizes learning, and the importance of social interactions in retention. He highlights the shift towards innovative, immersive methods that cater to shorter attention spans, paving the way for impactful and lasting behavior change in the corporate world.

Nate Andorsky, an entrepreneur and author of Decoding the Why, dives into how behavioral science shapes business strategies. He shares his journey into this field, influenced by the book Nudge. Discover how understanding the 'why' behind decisions can transform product design, especially in technology. Nate discusses leveraging principles like social norms and commitment devices to enhance user engagement, alongside real-world examples in sectors like nonprofit and education. He emphasizes the role of testing and insights in refining strategies for better user experiences.