This module aims to provide a practical introduction to business decision-making concepts and techniques, including the key role of information, risk and complexity, and the internal and the external economic and financial environment within which these decisions are made.
Emphasis is placed on the students’ ability to identify, select and use appropriate data, in a range of formats, to analyse and solve a range of business problems. This module uses a business ‘game’ to simulate real-world decision making.
Learning Outcomes
On successful completion of this module you should be able to:
1. Describe, and evaluate the impact on organisations of the key global economic and financial issues facing the world today.
2. Understand and justify how organisations secure and deploy financial resources according to their capability and capacity.
3. Select, evaluate and apply concepts, data, tools and techniques in a practical context.
4. Use quantitative information to verify and extend existing theory.
5. Understand, evaluate and use business data analysis to provide a range of solutions for a Business problem.
6. Critically review current research and critically evaluate arguments, assumptions, abstract concepts and data to make own judgement.
7. Understand and apply suitable business and management research methods.
8. Interact effectively within a group, allocating tasks, receiving and giving information and ideas, and modifying responses where necessary to achieve team goals.
Indicative Syllabus Content
• The decision context: operating in a complex and uncertain world
• Making good decisions: researching information and gathering data
• Framing decision scenarios: critically reviewing the evidence
• Managing Risk: modelling business and financial risk
• Accessing and deploying financial resources for decision making
• Frameworks and techniques for decision making: the short-run
• Frameworks and techniques for decision making: the long-run
• Integrated decision scenarios: using ‘games’ to model business decisions
