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Durham University

Postgraduate Module Handbook 2021/2022

Archive Module Description

This page is for the academic year 2021-22. The current handbook year is 2022-23
No such Code for pgprog: N1KS17
No such Code for pgprog: N1KR17
No such Code for pgprog: N1KS14
No such Code for pgprog: N1N317
No such Code for pgprog: N1N417

Department: Management and Marketing

BUSI45R15: IMPROVING MANAGEMENT DECISION MAKING (TAUGHT)

Type Tied Level 4 Credits 15 Availability Not available in 2021/22
Tied to N1KS17
Tied to N1KR17
Tied to N1KS14
Tied to N1N317
Tied to N1N417

Prerequisites

  • None.

Corequisites

  • None.

Excluded Combination of Modules

  • IMPROVING MANAGEMENT DECISION MAKING (ONLINE)

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 judgment and the assumptions underlying decision-aiding techniques.

Content

  • Traditional microeconomics versus behavioural economics
  • 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 thinking versus decision analysis - creativity and the framing of decisions.
  • Decision making in management teams - pitfalls and remedies.
  • Decision making under conditions of extreme uncertainty – crisis management.

Learning Outcomes

Subject-specific Knowledge:
  • By the end of the module students should 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;
  • advanced knowledge and critical understanding of the uses of quantitative and qualitative information for evaluating options in an uncertain business environment.
Subject-specific Skills:
  • By the end of the module students should 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 taught input, groupwork, case studies and discussion, supported by guided reading and specially-written self-study material. 
  • The summative assessment of the module is designed to test the acquisition and articulation of knowledge and critical understanding, and skills of application and interpretation within the business context.

Teaching Methods and Learning Hours

Activity Number Frequency Duration Total/Hours
Workshops (a combination of taught input, groupwork, case studies and discussion), timetabled in blocks 35
Preparation and reading 115
Total 150

Summative Assessment

Component: Written Assignment Component Weighting: 100%
Element Length / duration Element Weighting Resit Opportunity
Written Assignment 4,000 words maximum 100% Same

Formative Assessment:

Classroom-based exercises involving individual and group analyses and presentations on specific business situations/problems relevant to the learning outcomes of the module. Oral and written feedback will be given on a group and individual basis as appropriate.


Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University