This subject provides both the conceptual frameworks and practical illustrations of business analysis techniques including decision trees, simulation and optimisation. These frameworks will be applied to various decisions faced by organisations, with applications in the areas of entrepreneurship, strategy, operations, marketing and finance.
Intended learning outcomes
Upon successful completion of this subject, students should be able to:
Specify a business problem or opportunity
Identify potential alternative solutions
Clarify objectives and develop performance matrix
Address decision tradeoffs
Quantitatively analyse decision alternatives using spreadsheets
Analyse risks using such methods as probability analysis
Apply advanced problem solving approaches using such Excel spreadsheet features as Data Tables, Goal Seek and Solver.
Upon successful completion of this subject, students should be able to: • Manage decision-analysis teams; • Become skilled at managerial decision analysis; • Have strong communication skills in decision-analysis contexts.