Unit 6 Business Decision Making
4 OUTLINE CONTENT
1 Be able to use a variety of sources for the collection of data, both primary and secondary
Primary sources: survey methodology; questionnaire design; sample frame; sampling methods; sample error
Secondary sources: internet research; government and other published data; by-product data
Storage: security of information; data protection issues; ethical issues
2 Understand a range of techniques to analyse data effectively for business purposes
Representative values: mean, median, mode; calculation from raw data and frequency distributions using appropriate software; using the results to draw valid conclusions
Measures of dispersion: standard deviation for small and large samples; typical uses (statistical process eg control, buffer stock levels)
Calculation: use of quartiles, percentiles, correlation coefficient
3 Be able to produce information in appropriate formats for decision making in an organisational context
Creation and interpretation of graphs using spreadsheets: line, pie, bar charts and histograms
Scatter (XY) graphs and linear trend lines: extrapolation for forecasting (reliability)
Presentations and report writing: use of appropriate formats; presentation software and techniques
4 Be able to use software-generated information to make decisions in an organisation
Management information systems: computers and information processing tools for operational, tactical and strategic levels of the organisation
Project management: networking and critical path analysis, Gantt and Pert charts
Financial tools: net present value; discounted cash flow; internal rates of return
5 TEACHING AND LEARNING APPROACH
This module will be delivered through a combination of lectures and tutorials. Lectures will consider key ideas and concepts. In tutorial sessions you will be able to discuss relevant concepts as they are introduced and link them to the world of work wherever possible.
Overview
This
1 Be able to use a variety of sources for the collection of data, both primary and secondary
Primary sources: survey methodology; questionnaire design; sample frame; sampling methods; sample error
Secondary sources: internet research; government and other published data; by-product data
Storage: security of information; data protection issues; ethical issues
2 Understand a range of techniques to analyse data effectively for business purposes
Representative values: mean, median, mode; calculation from raw data and frequency distributions using appropriate software; using the results to draw valid conclusions
Measures of dispersion: standard deviation for small and large samples; typical uses (statistical process eg control, buffer stock levels)
Calculation: use of quartiles, percentiles, correlation coefficient
3 Be able to produce information in appropriate formats for decision making in an organisational context
Creation and interpretation of graphs using spreadsheets: line, pie, bar charts and histograms
Scatter (XY) graphs and linear trend lines: extrapolation for forecasting (reliability)
Presentations and report writing: use of appropriate formats; presentation software and techniques
4 Be able to use software-generated information to make decisions in an organisation
Management information systems: computers and information processing tools for operational, tactical and strategic levels of the organisation
Project management: networking and critical path analysis, Gantt and Pert charts
Financial tools: net present value; discounted cash flow; internal rates of return
5 TEACHING AND LEARNING APPROACH
This module will be delivered through a combination of lectures and tutorials. Lectures will consider key ideas and concepts. In tutorial sessions you will be able to discuss relevant concepts as they are introduced and link them to the world of work wherever possible.
Overview
This