Course Title: Management Decision Making

Part A: Course Overview

Course Title: Management Decision Making

Credit Points: 12


Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

BUSM4075

RMIT Vietnam Hanoi Campus

Postgraduate

660H Grad School of Bus and Law

Face-to-Face

Viet3 2009

BUSM2346

City Campus

Postgraduate

660H Grad School of Bus and Law

Face-to-Face

Sem 1 2006,
Spring2009,
Sem 1 2010,
Spring2010,
Spring2011

BUSM4074

RMIT Intl University Vietnam

Postgraduate

660H Grad School of Bus and Law

Face-to-Face

Viet3 2009,
Viet1 2010,
Viet2 2010,
Viet3 2010,
Viet1 2011,
Viet1 2012,
Viet2 2013,
Viet2 2014,
Viet2 2015

Course Coordinator: Professor Clive Morley

Course Coordinator Phone: +61 3 9925 0136

Course Coordinator Email:clive@rmit.edu.au


Pre-requisite Courses and Assumed Knowledge and Capabilities

None


Course Description

This course provides an opportunity for students to acquire basic knowledge and skills in business statistics, quantitative analysis and modelling which will enable them to:

achieve an understanding and appreciation of the uses of quantitative analysis techniques as they apply in the fields of accounting, economics, finance, information systems , management and marketing; 

understand the processes and underlying principles of Statistical analysis and management science as they apply to the decision making process;

use basic statistical techniques and be able to interpret an Excel based spreadsheet of statistical analysis in the workplace environment.;

appreciate the powerful and enhanced decision making processes and practical applications which emerge from the use and interpretation of statistical analysis of raw data;

understand the assumptions inherent in statistical analysis and the risks associated with real world situations which violate these assumptions.


Objectives/Learning Outcomes/Capability Development

Students will learn to use appropriate basic quantitative analysis techniques to generate numerical and graphical outputs which will aid their analysis, enable them to write a cogent report and an informative but mostly non-technical (i.e. non-statistical) report based on the raw data and subsequent statistical analysis.


By the end of this course, students are expected to be able to:

Understand and apply the prescribed statistical tools in analysing business and management problems. Emphasis in this course will be on the analysis and interpretation of results, discussion of their implications for management decision making and the limitations, if any, of the statistical techniques.

Write a business report  analysing a problem identifying describing and justifying the statistical technique/s used to understand the problem and discussing the implications of the results and the limitations therein.


Overview of Learning Activities

Students in this course will learn through a combination of lectures, class discussions, presentations, completion of a project and text based problem solving exercises: while all are important, the first and last are absolutely essential to success with the Exam and Project. The course uses adult and experiential learning principles in which the individual and the learning teams are invited to take major responsibility for what is learned and how it is learned.

In addition to attending lectures , students will be expected to devote a minimum of 6 to 8 hours each week to solving a set list of problems drawn from the Text. Students will be expected to also work on their Project and be steadily applying and testing some of the major quantitative analysis applications covered in class.


Overview of Learning Resources

the lecturer’s role will be to introduce the essential concepts and topics, outline the methodology and formulae appropriate to a situation , illustrate the use of the Excel and other packages, suggest alternative approaches, provide examples of analysis and how inferences can be made, stimulate the thought processes, illuminate the pathways and act as a consultant to the students, individually and in teams.


Overview of Assessment

Assessment will include some of examination, test, project, case study and assignments.