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BUSI45715: IMPROVING MANAGEMENT DECISION MAKING (PT/EXECUTIVE)

It is possible that changes to modules or programmes might need to be made during the academic year, in response to the impact of Covid-19 and/or any further changes in public health advice.

Type Tied
Level 4
Credits 15
Availability Not available in 2024/2025
Module Cap
Location Durham
Department Management and Marketing

Prerequisites

  • None.

Corequisites

  • None.

Excluded Combinations of Modules

  • None.

Aims

  • To give students an in-depth understanding at an advanced level of the complexities of decision-making, and how decisions can be improved by specialist techniques such as decision analysis and scenario thinking. Emphasis is placed on critically evaluating both the quality of management judgement and the assumptions underlying decision-aiding techniques.

Content

  • How people choose between alternatives.
  • Improving choice using multi-attributable value analysis techniques.
  • Psychological pitfalls in choice: overconfidence, escalation of commitment, shift-to-risk in decision making.
  • Decision analysis - methods and techniques for making decisions that involve uncertainties.
  • Scenario planning versus decision analysis - creativity and the framing of decisions.
  • Decision making in management teams - pitfalls and remedies.

Learning Outcomes

Subject-specific Knowledge:

  • Upon successful completion of the module, the students will have:
  • a specialist knowledge of the pitfalls in how individuals and management teams make decisions;
  • a critical appreciation of the assumptions, implications, and limitations of decision analysis.

Subject-specific Skills:

  • Upon successful completion of the module, the students will have:
  • advanced skills in, and a critical understanding of, the techniques of decision analysis.

Key Skills:

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

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

  • 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.

Teaching Methods and Learning Hours

ActivityNumberFrequencyDurationTotalMonitored
Workshops (a combination of lectures, groupwork, case studies and discussion)28Yes
Preparation and Reading122 
Total150 

Summative Assessment

Component: Written AssignmentComponent Weighting: 100%
ElementLength / DurationElement WeightingResit Opportunity
Written Assignment4,000 words maximum.100 

Formative Assessment

None.

More information

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