Course Title: Business Decision Making
Part A: Course Overview
Course Title: Business Decision Making
Credit Points: 12.00
Please note that this course may have compulsory in-person attendance requirements for some teaching activities.
To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption.
Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209.
Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus
Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.
Course Coordinator: Dr Meredith Tharapos
Course Coordinator Phone: +61 3 9925 5711
Course Coordinator Email: firstname.lastname@example.org
Course Coordinator Location: City Campus
Course Coordinator Availability: Appontment via email
Pre-requisite Courses and Assumed Knowledge and Capabilities
Advances in information technology have provided organisations access to vast amounts of data. A fundamental challenge facing organisations is how to best make use of this data. At the same time, business decisions are often undertaken with incomplete information or under conditions of uncertainty and ambiguity.
This multidisciplinary course will enable you to understand how data can be harnessed to inform managerial decision making. You will be shown how managers can identify, obtain and analyse both financial and non-financial data in order to make more informed business decisions. You will be introduced to data-driven decision making through the application and interpretation of analytical techniques and models in the context of real-world problems, as well as how the results of data analysis can be communicated effectively to facilitate organisational decision making.
You will then examine how a range of psychological, cognitive and social factors, including certain biases, can impact the decision making of business managers. Recognising the impact of these psychological factors and understanding the importance of being adaptable in your own thinking will support you in making informed business decisions wherever your career takes you.
This course incorporates the development of graduate skills for business professionals, including communication, problem solving and data analysis skills.
This course will also introduce and begin to embed practices relating to Business Graduate Folio, an e-portfolio that is integrated throughout the Bachelor of Business curriculum and a requirement for the capstone close of the program.
Objectives/Learning Outcomes/Capability Development
Upon successful completion of this course, you will be able to:
CLO1: Describe and implement a structured approach to generating meaningful insights and informing ethical decision making in business.
CLO2: Demonstrate the role of data and data analytics for decision-making in business organisations.
CLO3: Select, apply, analyse and evaluate the results of data analyses, analytical models and other business tools in a socially intelligent manner.
CLO4: Apply digital literacy skills to communicate the results of data analyses and analytical models in written and visual forms to support organisational decision-making.
CLO5: Evaluate a range of behavioural factors and demonstrate how they influence decision makers.
Overview of Learning Activities
In this course you are encouraged to be an active learner. Your learning will be supported through various learning activities. These may include quizzes; assignments; prescribed readings; sourcing, researching and analysing specific information; conducting presentations; producing written work and collaborating with peers in set tasks or projects.
Overview of Learning Resources
Various learning resources are available online through MyRMIT Studies/Canvas. The lecture notes and workshop notes are posted on Canvas.
RMIT Library provides extensive resources, services and study spaces. All RMIT students have access to scholarly resources including course related material, books, e-books, journals and databases.
Computers and printers are available at every Library. You can access the Internet and Library e-resources. You can also access the RMIT University wireless network in the Library.
Contact: Ask the Library for assistance and information on Library resources and services: http://www.rmit.edu.au/library. Study support is available for assistance with assignment preparation, academic writing, information literacy, referencing, maths and study skills. Additional resources and/or sources to assist your learning will be identified by your course coordinator and will be made available to you as required during the teaching period.
Overview of Assessment
Assessment Task 1: 20%
Linked CLOs: 1
Assessment Task 2: 40%
Linked CLOs: 2, 3
Assessment Task 3: 40%
Linked CLOs: 1, 2, 3, 4, 5