BUSI49315: APPROACHES TO DECISION MAKING (FT)

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• To provide an advanced understanding of the ways in which decision making frameworks may help in making sense of the complex world in which managers manage.

• Optimisation: using linear programming to find best solutions.
• Multi-attribute problems: how to trade off different sorts of outcomes.
• Risky decisions: how to cope with uncertainty.
• Subjectivity and bias: why we need help in making rational decisions.
• Competition and cooperation: the application of game theory.
• Problem structuring: describing complexity using soft systems and pattern languages.

Subject-specific Knowledge:

• Upon successful completion of the module, the students will:
• have an in-depth understanding of the contribution that analytical decision methods (mainly, but not only, quantitative) can make to the solution of decision problems in business;
• have a critical appreciation of how to structure complex problems.

Subject-specific Skills:

• Upon successful completion of the module, the students will:
• be able to formulate and solve models to assist management decision making.

Key Skills:

• Written communication; planning, organising and time management; problem solving and analysis; using initiative; computer literacy.

• Learning outcomes will be met through a combination of lectures, groupwork, case studies and discussion, supported by guided reading. The written assignment will test students' understanding of relevant concepts and their ability to apply and interpret what they have learned to the analysis of a particular issue in depth.

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