This module aims to provide a practical introduction to decision-making concepts and techniques that may be encountered in a variety of business organisations and to the role of managers as central actors in the process. It is intended to engender an appreciation of the complexity of decision making and the impact of risk and uncertainty on managerial decisions. The module will demonstrate how to identify, formulate and apply solutions to common business problems, which often requires a choice between different courses of action. It will also illustrate how spreadsheet packages, like Excel, can be used to model and solve decision problems in an effective way.
After successfully completing this module students will be able to: Conceptualise the essential components of common business problems of varying complexity and specify and formulate appropriate managerial solutions. Select and apply appropriate quantitative and qualitative techniques in the framing, analysis, solution and interpretation of short-term and long-term business decisions. Demonstrate understanding of the difficulties that imperfect information, risk and uncertainty impose upon decision-makers and determine how these difficulties may best be mitigated, using appropriate risk management techniques. Articulate the differences between individual and group decision making and problem solving behaviour, and apply appropriate decision making and implementation skills; Evaluate how information management can effectively support the decision making process.
Dr Vincent Rich (VR), Room C416, Marylebone
Telephone: 0207 911 5000 x66599 Email: email@example.com
Dr Tantawy Moussa (TM), Room C388, Marylebone
Telephone: 0207 911 5000 x66804 Email: firstname.lastname@example.org
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Teaching and Learning Methods:
There are three hours of weekly contact time. These will be divided equally between lecture and classroom-based seminars. The lecture will outline key concepts and techniques. The classroom-based seminars will be used to discuss and extend topics introduced in lectures, and to undertake decision problems and exercises. Structured independent study will involve you working in small groups (typically with two other students) on a Two-part integrative case study, focused around a hypothetical company and the sorts of issues and decisions it may have to consider (please see the Teaching Programme, below, which indicates the timing and form of this element). You will receive additional guidance and formative feedback (including ‘solutions’) from your seminar tutor. Your work on the integrative case study will help you to prepare for the in-class test, which will be held in Week 12 (see below).
We will use the Blackboard VLE to provide lecture slides, outline seminar activities and solutions, and other support materials, which you will be expected to download.
For each weekly topic we will indicate what you will be expected to cover in the seminars and provide guidance on other reading and activities that will enable you to fully cover the learning objectives of the module. These elements are designated as:
Seminar: Questions/activities that will be covered in the seminars. Attempt: Questions or activities which you are invited to try before the...
Links: Core reading: Rich, Moorjani & Moussa (R, M & M), Chapter 1
(Chapter 9 from Fundamentals of Management, by Smith, 2011)
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