Analytical Thinking and Decision Making (UWS)
An introduction to decision making theory and the tools that might be used to aid decision making and problem solving.
Analytical thinking and effective decision making is critical to the success of any organisation. However, regardless of context, all decisions depend on developing and forming a judgement. Difficulty arises as these judgements are often complicated by a variety of factors that could influence the outcome. Decision making therefore involves analysing information and utilising various strategies and techniques in order to effectively resolve decision problems or identify the most appropriate course of action.
This module provides an introduction to decision making theory and discusses the application of various tools to aid decision makers. The module outlines several different approaches to decision making and decision analysis in order to support analytical thinking and problem solving within complex decisions.
Within the module students will explore decisions involving multiple objectives, probability and uncertainty, risk, and the application of various tools and techniques to support effective decision making.
At the end of this module the student will be able to:
L1. Develop an in-depth knowledge of management decision making theory.
L2. Critically evaluate models of management decision making.
L3. Gather and evaluate data to support analytical thinking and decision making in the organisation.
L4. Demonstrate the ability to apply tools, techniques and practices to complex business problems (identify, investigate, formulate, and advocate novel and creative solutions and ideas).
L5. Critically evaluate the various factors which impact on sound decision making.
What will you study
This module introduces students to decision making theory and the tools that might be used to aid decision making and problem solving. It will equip the student to develop an understanding of different approaches to analytical decision making. Students will develop the ability to gather relevant information and identify key issues from a base of information; relating and comparing data from different sources. They will develop the knowledge and skills to identify cause - effect relationships; determine and evaluate risk and draw conclusions use different analytical decision making techniques to support analytical thinking and problem solving required in complex decision making.
The module will enable students to focus on the definition of opportunities and develop and implement sound solutions. They will identify critical issues and implement recommendations understanding the different roles and responsibilities of the individuals in decisive decision making.
The Assessment consists of:
Written coursework - 60%
and syndicate work - 40%
Appropriate resit arrangements will be made available for individuals who do not complete the group work to a satisfactory standard or who have left the group. The resit assessment will be agreed between the tutor and the individual student and subject to the approval of the external examiner.
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