2021/22 Taught Postgraduate Module Catalogue
LUBS5709M Management Decision Making
15 creditsClass Size: 80
Module manager: Peter Ayton
Taught: Semester 1 (Sep to Jan) View Timetable
Year running 2021/22
Module replacesLUBS 5710M
This module is not approved as an Elective
ObjectivesDecision 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, the judgmental errors and decision biases that commonly arise, and strategies for improving decisions. They will also evaluate a number of approaches to structured decision aids.
Upon completion of this module students will be able to critically evaluate:
- the thinking processes which underlie participants own and others’ judgement and decision making, including the distinction between System 1 and System 2 thinking
- different types of errors / biases in human judgement/decision making and ways in which these can be overcome
- the use of structured decision aids designed to improve the quality of human decision making and ways to implement them in management and other situations on the basis of experience gained on the module
- the information context within which businesses operate and the implications of this for business analysis and decision making
Upon completion of this module students will be able to:
- analyse and think critically
- communicate in writing at an advanced level
- make and influence decisions both individually and in groups
- effectively negotiate
- appraise, manage and communicate risk
- Use decision making concepts and language to reflect upon and evaluate their own thinking/decision making processes and those of others around them
Introduction to decision research, decision framing and prospect theory; judgmental heuristics and biases and ways of debiasing/improving judgement; risk perception and risk communication; structured approaches to decision aiding, decision trees, risk analysis, SMART and scenario planning.
|Delivery type||Number||Length hours||Student hours|
|Private study hours||106.00|
|Total Contact hours||44.00|
|Total hours (100hr per 10 credits)||150.00|
Private studyThis could include a variety of activities, such as reading, watching videos, question practice and exam preparation.
Opportunities for Formative FeedbackYour teaching methods could include a variety of delivery models, such as face-to-face teaching, live webinars, discussion boards and other interactive activities. There will be opportunities for formative feedback throughout the module.
Methods of assessment
|Assessment type||Notes||% of formal assessment|
|Total percentage (Assessment Coursework)||100.00|
The resit for this module will be 100% by 3,000 words coursework.
Reading listThe reading list is available from the Library website
Last updated: 30/06/2021 15:20:04
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