2020/21 Taught Postgraduate Module Catalogue

LUBS5864M Management Decision Making

15 creditsClass Size: 200

Module manager: Jonathan Muir
Email: j.muir@leeds.ac.uk

Taught: 1 Dec to 28 Feb View Timetable

Year running 2020/21

This module is not approved as an Elective

Module summary

Decision making is a key management function. Participants will obtain an understanding of the thinking processes that underlie their own and others’ judgement and decision making in individual and group decision making situations. Participants will learn to recognise the judgmental errors and decision biases that commonly arise, and strategies for improving their decision making, risk communication and negotiation skills. The module also introduces the basics of designing decision making contexts in ways which have been shown to influence the behaviours of others.

Objectives

The objective of this module is to offer insight into, and understanding of, the thinking processes that underlie human judgement and decision making. In particular, it focuses on the predictable judgmental errors and decision biases that commonly arise, and offers strategies for improving these decisions in situations from simple daily activity to complex, strategic decisions.

Learning outcomes
Knowledge outcomes:

Upon completion of this module participants will be familiar with and able to critically evaluate:

1. The thinking processes which underlie participants own and others’ judgement and decision making, including the distinction between System 1 and System 2 thinking
2. Different types of errors / biases in human judgement/decision making
3. The use of structured decision aids designed to improve the quality of human decision making
4. The information context within which businesses operate and the implications of this for management decision making, including an appreciation of individual and cultural differences and styles of decision making (e.g. in negotiations).

Academic skills outcomes:

Upon completion of this module participants will be able to:

5. Use a critical evaluation of the theory of cognitive errors / biases in human judgement/decision making to develop insight into alternative theoretical explanations
6. Use a synthesis of theoretical approaches to risk perception and communication to inform the design and evaluation of a risk communication strategy
7. Use cognitive and behavioral insight to predict how decision contexts can be designed to influence judgment and behaviour

Workplace skills outcomes:

Upon completion of this module participants will be able to:

8. Use decision making concepts, theory and language to reflect upon and evaluate their own thinking/decision making processes and those of others around them
9. To become more effective decision makers by avoiding common decision errors and utilising structured decision aids appropriate for the situation and work environment.
10. Make more effective group decisions
11. Appraise, manage and communicate risk accurately
12. To construct decision environments in the workplace to maximize outcomes for self and others

Interpersonal skills outcomes:

13. Understand and influence decision making in groups
14. Effectively negotiate with others, including those from a variety of cultures
15. Analyze information most effectively and think critically
16. Communicate in writing at an advanced level

Skills outcomes
Upon completion of this module students will be able to:

Subject Specific Skills:

- Evaluate the thinking and theoretical processes of management decision-making
- Critically examine the different styles of decision-making
- Synthesise the decision-making concepts and languages which impact on the decision-making process
- Appraise the level of risk and bias at a strategic level
- Examine the application of decision aids and the possible impact when making strategic decisions

Transferable Skills:

- Analyse information critically and use it to rationalise decisions
- Communicate strategically and effectively in a professional manner
- Exercise autonomy when making and justifying decisions
- Utilise planning and decision-making skills
- Demonstrate leadership skills when making strategic choices

Syllabus

Indicative content:
1. Introduction to decision research;
2. Judgmental heuristics and biases and ways of de-biasing/improving judgement;
3. Decision framing and prospect theory;
4. Structured approaches to decision aiding, decision trees, risk analysis, SMART and scenario planning;
5. Bargaining and negotiation;
6. Group decision making;
7. Risk perception and risk communication;
8. Behaviour change and relevance for change management.

Teaching methods

Delivery type	Number	Length hours	Student hours
Directed Study	6	1.00	6.00
Discussion forum	6	1.00	6.00
Independent online learning hours			24.00
Private study hours			114.00
Total Contact hours			12.00
Total hours (100hr per 10 credits)			150.00

Private study

Independent online learning refers to non-facilitated directed learning. Students will work through bespoke interactive learning resources and reflective activities in the VLE.
Private study refers to directed reading and self-directed research in support of learning activities and discussions, as well as in preparation for assessments.

Opportunities for Formative Feedback

Online learning materials will provide regular opportunity for students to check their understanding (for example through formative MCQs with automated feedback). Regular group activity embedded into learning will allow self and peer assessment providing opportunities for formative feedback from peers and tutors.

Methods of assessment

Coursework

Assessment type	Notes	% of formal assessment
Essay	2,100 words	70.00
Reflective log	1,000 words	30.00
Total percentage (Assessment Coursework)		100.00

Resit by failed element.

Reading list

The reading list is available from the Library website

Last updated: 10/08/2020 08:41:52

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