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MGT567 Business Decisions (8)

Abstract

This subject takes a rational approach to management decision making. Introduces the theory and application of analytical techniques for business decisions. Examines the fundamental analytical tools upon which financial and managerial decisions are made in the corporate environment. Develops specific competencies pertinent to decision theory and risk analysis and their application to project evaluation and management. Includes ethics and decision making, communicating decisions, report writing, statistical decision analysis, forecasting and computer modelling, inventory models, investment analysis, quality management and linear programming decisions.

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Continuing students should consult the SAL for current offering details prior to contacting their course coordinator: MGT567
Where differences exist between the handbook and the SAL, the SAL should be taken as containing the correct subject offering details.

Subject information

Duration Grading System School:
One sessionHD/FLSchool of Management and Marketing

Enrolment restrictions

Postgraduate students only

Learning Outcomes

Upon successful completion of this subject, students should:
- have developed technical, computational and analytical skills associated with the subject content;
- be able to identify, analyse and solve problems confronting accounting, financial and management decision makers, particularly those problems relating to risk assessment, project evaluation and management;
- be able to use analytical techniques appropriate to contemporary business decision making;
- tbe able to use formulae, a financial calculator and computer software to assist business decision analysis;
- be able to describe the ethical and social dimensions of business decisions;
- have further developed their communication skills.

Syllabus

The subject will cover the following topics:
- Introduction to business decision analysis, types of decisions, decision models, decision making tools, ethical decision making, communicating business decisions.
- Decision analysis, uncertainty and risk, probabilities, payoffs, decision tables, spreadsheet examples.
- Risk analysis and project evaluation, expected monetary value, expected value of perfect information, decision trees, sensitivity analysis.
- Forecasting and computer modelling, forecasting models, time series, exponential smoothing, causal models, multiple regression, adaptive smoothing, computer modelling.
- Inventory decisions, costing methods, charts, valuation decisions, EOQ models.
- Investment decisions, interest, present and future values, annuities, discounted cash flow analysis, net present value, internal rate of return, profitability index.
- Quality management decisions, total quality management, statistical quality control, conformance to specifications, random sampling, hypothesis testing, process testing, continuous improvement, benchmarking.
- Introduction to linear programming, graphical approach, constraints, objective function, cost minimisation, computer spreadsheet techniques.
- Introduction to project management, Critical Path Method (CPM), Program Evaluation and Review Technique (PERT).

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The information contained in the 2015 CSU Handbook was accurate at the date of publication: 01 October 2015. The University reserves the right to vary the information at any time without notice.