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BEworks: Experimentation in Business
In 2016, a luxury cosmetic company approached BEworks Inc. (BEworks), a management consulting firm based in Toronto, Ontario, to gain a better understanding of its customers in an effort to develop better-tailored communications. BEworks was the world’s first management consulting firm to specialize in solutions for real-world challenges by applying behavioural economics—an emerging field that sought to understand human behaviour in the context of psychological, social, cognitive, and emotional influences. Of special interest to the luxury cosmetic company was the design of key messages to drive sales growth. BEworks offered a unique approach to strategic problems by using empirical data obtained through experiments. The client and BEworks together decided on a variety of promising messages to assess. BEworks needed to decide on the design of a test to best gauge the effectiveness of these messages. -
BEworks: Experimentation in Business
In 2016, a luxury cosmetic company approached BEworks Inc. (BEworks), a management consulting firm based in Toronto, Ontario, to gain a better understanding of its customers in an effort to develop better-tailored communications. BEworks was the world's first management consulting firm to specialize in solutions for real-world challenges by applying behavioural economics-an emerging field that sought to understand human behaviour in the context of psychological, social, cognitive, and emotional influences. Of special interest to the luxury cosmetic company was the design of key messages to drive sales growth. BEworks offered a unique approach to strategic problems by using empirical data obtained through experiments. The client and BEworks together decided on a variety of promising messages to assess. BEworks needed to decide on the design of a test to best gauge the effectiveness of these messages. -
Policy by Design: The Dawn of Behaviourally-Informed Government
From Canada to Australia, Denmark to Singapore, governments are embracing insights from Behavioural Economics to improve the lives of their citizens. The authors describe the basics of 'Choice Architecture' and show that testing different 'nudges' with users provides an outlet to review the status quo and improve interactions with the public.