Business Decision Making

Topics: Decision making, Decision theory, Decision making software Pages: 25 (3621 words) Published: November 21, 2013


HND BUSINESS MANAGEMENT
Module Descriptor:
Unit 6: Business Decision making
Academic Year: 2012/13

School: IT & Business
Faculty: Business and Financial Management
Director of studies: Dr Stove Gulnara
Asst Director of studies: Yaroslava Chopey
Course Leader: George Reginald Anokye
Date of approval: 25th June 2012
Table of Contents

Introduction……………………………………………………………………………………………………………………… 3

Supporting Materials…………………………………………………………………………………………………………. 4

Weekly Course Schedule…………………………………………………………………………………………………… 5

Teaching Methods…………………………………………………………………………………………………………….. 6

Assessment Method…………………………………………………………………………………………………………. 6

Assignment Briefing…………………………………………………………………………………………………………… 7

Introduction
In business, good decision making requires the effective use of information. This unit gives learners the opportunity to examine a variety of sources and develop techniques for four aspects of information: data gathering, data storage, and the tools available to create useful information and present it.

Computers are used in business for much of this and thus the appreciation and use of appropriate IT software is central to the completion of this unit. Specifically, learners will use spreadsheets and other software for data analysis and the preparation of information. The use of spreadsheets for the manipulation of numbers, and understanding of how to apply the results, are seen as more important than the mathematical derivation of formulae used. They will also gain an appreciation of information systems currently used at all levels in an organisation as aids to decision making.

Aims
On successful completion of this unit a learner will:

Use a variety of sources for the collection of data, both primary and secondary Apply a range of techniques to analyse data effectively for business purposes Produce information in appropriate formats for decision making in an organisational Context. Use software-generated information to make decisions at operational, tactical and strategic levels in an organisation. Skills

Application of basic statistical tools in management and interpretation of data. Key IT skills including efficient use of Microsoft office programs like word, Excel and Power-point in report writing and presentations of a business case. Key presentation and demonstration skills as an important leadership trait.

Supporting Material: Resources
Textbooks
Bedward D — Quantitative Methods — A Business Perspective 1st Edition (Butterworth Heinemann, 1999) ISBN: 0750640936
Curwin and Slater — Quantitative Methods for Business Decisions 5th Edition (Chapman Hall, 2001) ISBN: 1861525311
Schultheis R — Management Information Systems 4th Edition (McGraw Hill 1998) ISBN: 0071155481
Smailes J and McGrane A — Essential Business Statistics (Pearson Education, 2000) ISBN: 0273643339
Waters D — Quantitative Methods for Business (FT Prentice Hall, 2001) ISBN: 027364694X Websites
For coverage of relevant topics:
www.4pm.com/repository.htm Project Management, critical path analysis www.ct-yankee.com Levinson Productivity Systems PC —
quantitative techniques outlined
www.itl.nist.gov National Institute of Statistics — variety of quantitative techniques
www.mindtools.com Mindtools — very useful management tools For research or secondary data:
www.bankofengland.co.uk/mfsd/index.htm Bank of England statistics www.bized.ac.uk provides case studies appropriate for educational purposes
www.dti.gov.uk/mbp Department of Trade and Industry
www.moneyworld.co.uk Moneyworld — manage your stocks and shares http://sol.brunel.ac.uk/~jarvis/bola Business Open Learning archive www.statistics.gov.uk UK government statistics
www.upmystreet.co.uk Up My Street — local information anywhere in UK

Weekly Course Schedule
SCHEME OF STUDY

Lecturer: Arun Chalise

WEEK/ DATE
TOPIC
DETAIL
1st
25/06/12
Introduction
Module Overview
Sources of Data...
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