Postgraduate Programme and Module Handbook 2021-2022 (archived)
Module BUSI4G215: Decision Making and Business Modelling
Department: Management and Marketing
BUSI4G215:
Decision Making and Business Modelling
| Type |
Tied |
Level |
4 |
Credits |
15 |
Availability |
Available in 2021/22 |
| Tied to |
N1K607 |
| Tied to |
N1K807 |
| Tied to |
N1K507 |
| Tied to |
N1K307 |
| Tied to |
N1KL07 |
Prerequisites
Corequisites
Excluded Combination of Modules
Aims
- To promote a critical awareness and understanding of decision making under uncertainty by introducing a wide range of relevant concepts and theories, such as bounded rationality and behavioural economics, and specialised tools for business modelling, with an emphasis on the application of decision making techniques.
Content
- Rationality and bounded rationality
- Information symmetry and asymmetry
- Overview of behavioural economics
- Optimising x Satisficing
- Decision making under uncertainty
- Complexity
- Data-driven x Intuition
- Business modelling as a concept and existing tools
- Explore x Exploit
- Innovation management tool(s)
- Lean, prototyping, piloting, experimentation, hackathon
- Systemic problems, System design, Leverage points
- Overview of forecasting, backcasting, and scenario planning
- Artificial intelligence, machine learning and 4th industrial revolution
Learning Outcomes
- By the end of the module students will be able to:
- Bounded rationality and uncertainty
- Behavioural economics
- Innovation management
- Complexity and system thinking
- Business modelling
- Be able to understand the complexities and uncertainties of decision-making
- Be able to understand key principles underpinning decision-making
- Be able to evaluate complex situations and the means of taking decisions
- Be able to apply business modelling concepts and tools
- Written communication; planning, organising and time management; analysis of complex problems; problem solving and analysis
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, seminars and practical work, supported by guided reading. The summative assessment will comprise a project-based report designed to test students' knowledge of key concepts and tools and their ability to apply those in a business context.
Teaching Methods and Learning Hours
| Activity |
Number |
Frequency |
Duration |
Total/Hours |
|
| Lectures |
10 |
|
2 hours |
20 |
| Seminar/practical classes |
4 |
|
1 hour |
4 |
| Preparation & Reading |
|
|
|
126 |
| Total |
|
|
|
150 |
Summative Assessment
| Component: Project-based report |
Component Weighting: 100% |
| Element |
Length / duration |
Element Weighting |
Resit Opportunity |
| Project-based report requiring the application of knowledge from on business modelling and/or decision-making |
2,500 words maximum |
100% |
|
Exercise questions prepared in advance of seminars.
■ 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
