Wednesday, 18 November 2009, 12:00AM
Barnard's Inn Hall

If at first you don’t succeed, then what?

Professor Helga Drummond

One of the most important decisions we may ever need to make is whether to continue investing time and money in a decision that is not turning out as expected. This lecture explores what drives us to persist despite poor odds and how, as a result, we can end up 'throwing good money after bad'. Helga Drummond is Professor of Decision Sciences at the University of Liverpool Management School. Her latest book, How to be a Successful Entrepreneur, is published by Kogan Page.

Speaker_HelgaDrummond_370x370.jpg

Helga Drummond is Visiting Gresham Professor of Business and Professor of Decision Sciences at the University of Liverpool Management School, a position that she has held since 1997.

Professor Drummond is an Independent Member of the Defence Scientific Advisory Committee (DSAC), which advises the Ministry of Defence on science and technology. Professor Drummond is also Lay Member the Licence Committee of the Human Fertilisation and Embryology Authority (HFEA), the General Optical Council Fitness to Practice Committee and the Royal College of Veterinary Surgeons Discipline Committee. Past external appointments include Non-Executive Director of two executive agencies of the Ministry of Defence, the Royal Institution of Chartered Surveyors and Lay Member of the Joint Council of the Inns of Court.

As well as her wide-ranging articles for both academic and lay publications, her numerous books include The Economist Guide to Decision-Making (2012), Escalation in Decision-Making: Behavioural Economics in Business (2011) and How to be a Successful Entrepreneur (2009).

Most of Professor Drummond’s research has centred upon decision-making amidst risk and uncertainty. Her studies have ranged from high profile business failures, such as the collapse of Barings’ Bank, to that of a dilapidated hairdressers’ shop. She has delivered invited lectures on these topics at a wide range leading institutions, including LSE, University of Oxford, University of Cambridge, the Defence Academy and the British Legal Association.

Professor Drummond’s series of three public lectures begins in December 2014 and are collected under the title, Gambling with the Gods: Decision-making in a Turbulent World. On her series, she explains:

“We make our decisions. Our decisions make us and our organisations. But it is seldom easy. Ambiguity always lurks. Things are rarely quite what they seem to be. Bright promises fail. Bold claims return to haunt. Best laid plans frequently go awry. This programme of lectures is about how to get important decisions more right than wrong and even profit from uncertainty”.

All of Professor Drummond's past lectures may be accessed here.

Read More
Read Less

Transcript

18 November 2009

If at first you don’t succeed, then what?
Professor Helga Drummond

View PDF
Print
Related Future Lectures
Related Past Lectures
WATCHED
Part of a series

House, Shop and Wardrobe in London's Merchant Community

Simon Thurley CBE
Wednesday, 6 December 2017 - 6:00PM
WATCHED
Part of a series

London Merchants and Their Residences

Simon Thurley CBE
Wednesday, 17 January 2018 - 6:00PM
WATCHED
Part of a series

The Housing Market

Professor Jagjit Chadha
Thursday, 25 January 2018 - 1:00PM
WATCHED
Part of a series

The Structure of Finance

Professor Jagjit Chadha
Thursday, 15 March 2018 - 6:00PM
WATCHED
Part of a series

Is 'Green Business' a Contradiction in Terms?

Professor Carolyn Roberts
Thursday, 22 March 2018 - 6:00PM
WATCHED
Part of a series

Regional, Industrial and Infrastructure Policies

Professor Jagjit Chadha
Thursday, 19 April 2018 - 6:00PM
WATCHED
Part of a series

Mobilising Savings for Investment

Professor Jagjit Chadha
Thursday, 9 November 2017 - 1:00PM
WATCHED
Part of a series

The Productivity Puzzle

Professor Jagjit Chadha
Thursday, 21 September 2017 - 6:00PM
WATCHED
Part of a series

The Policy Responses

Professor Jagjit Chadha
Thursday, 1 June 2017 - 6:00PM
WATCHED
Part of a series

The External Financing Position

Professor Jagjit Chadha
Thursday, 27 April 2017 - 6:00PM
WATCHED

What will happen when Artificial Intelligence and the Internet meet the Professions?

Richard Susskind
Thursday, 30 March 2017 - 6:00PM
WATCHED
Part of a series

Debt and the Household Balance Sheet

Professor Jagjit Chadha
Thursday, 16 March 2017 - 6:00PM
WATCHED
Part of a series

"Knee deep in the big muddy": Escalation of Commitment

Professor Helga Drummond
Thursday, 12 March 2015 - 1:00PM
WATCHED
Part of a series

The Psychology of Doing Nothing

Professor Helga Drummond
Thursday, 29 January 2015 - 1:00PM
WATCHED
Part of a series

Predictable Surprises

Professor Helga Drummond
Thursday, 4 December 2014 - 1:00PM
WATCHED

Problems Causing Lack of Productivity and Comparing to Other Countires

Professor Jagjit Chadha
Thursday, 24 November 2016 - 1:59PM
WATCHED

Do You Think The UK's Weak Trade Unions Is Related To Low Productivity?

Professor Jagjit Chadha
Thursday, 24 November 2016 - 1:58PM
WATCHED

Does Technology Have An Influence On The Way Labour Models Work?

Professor Jagjit Chadha
Thursday, 24 November 2016 - 1:55PM
WATCHED

Why did it take longer for rates to recover in the 1980's compared to previous centuries?

Professor Jagjit Chadha
Thursday, 29 September 2016 - 6:58PM
WATCHED

Doesn't paying back debt end up with someone having money in their pocket?

Professor Jagjit Chadha
Thursday, 29 September 2016 - 6:55PM
WATCHED

Immigrants and the Economy: Positive Impact and Political Disregard

Professor Jagjit Chadha
Thursday, 2 June 2016 - 6:00PM