2017/18 Undergraduate Module Catalogue

LUBS2765 Advanced Management Decision Making

10 creditsClass Size: 34

Module manager: Emmanouil Konstantinidis
Email: E.Konstantinidis@leeds.ac.uk

Taught: Semester 2 (Jan to Jun) View Timetable

Year running 2017/18

Pre-requisite qualifications

The pre-requisites for this module are LUBS1785 OR LUBS2785.

Pre-requisites

LUBS1785	Introduction to Effective Decision Making
LUBS2785	How Managers Make Decisions

This module is mutually exclusive with

LUBS3885	Management Decision Making
LUBS3895	Applied Management Decision Making

This module is approved as a discovery module

Module summary

This module enhances your fundamental theoretical knowledge of decision making to allow a deeper appreciation of effective management decision making. Specifically, it focuses on the practical application of behavioural decision theory to complex, real world and managerial issues. The focus is on both understanding and improving decision making in these contexts. Domains for study include group decision making, bargaining and negotiation, public risk perception, effective risk communication and the implementation of structured decision aids.

Objectives

Building on the fundamental theoretical knowledge of individual decision making acquired in LUBS1785 Introduction to Effective Decision Making, this module aims to provide students with a deeper appreciation of management decision making. This module contributes to the programme by offering the opportunity to develop decision analytic skills which can be applied in many diverse decisions domains, such as strategy, HRM, marketing, and management decisions more generally.

Learning outcomes
Upon completion of this module students will be able to:
- Demonstrate critical knowledge of how group dynamics and specific group-related biases can inhibit effective group decision making and techniques to overcome this
- Assess the theory of bargaining and negotiation from the decision analytic perspective, and demonstrate the ability to apply techniques to improve these activities
- Explain different conceptions of risk and its perception, and the implications of these for effective risk communication
- Demonstrate critical assessment of, and skills for implementing, a range of sophisticated structured decision aids designed to improve human decision making at both theoretical and practical levels through the use of applied techniques and specific software. This includes assessment of the feasibility of each in different environmental conditions and the strengths and limitations of each
- Assess the relevance of the issues presented above for managerial decision making in general, and for participants’ own personal decision making in particular

Skills outcomes
Upon completion of this module students will be able to:
Transferable
- Apply skills of conceptual analysis, critical thinking, communication, bargaining and negotiation to decision making in group working and individual contexts
- Recognise and apply relevant skills to appraising, managing and communicating risk

Syllabus

Indicative content
Group and team decision making; group process, decision rules, specific group biases, heuristics and related phenomena such as groupthink and group polarisation and how to enhance group practices and processes, such as electronic group decision making and the Delphi technique. We consider when and how groups are more effective than individual decision makers.

Structured decision aiding; why and how structured decision aiding can overcome the limitations of System 1 thinking. Practical examples include Simple Multi Attribute Rating Technique (SMART), decision trees and fault trees. We also consider the criteria of a choice situation which determine which decision aid is suitable and the limitations of structured decision aids.

Risk perception and communication within organisations and with the wider public. This includes fright factors and misinterpretation of small risks. Furthermore, we consider how to use research on risk perception to convey risk information accurately.

Decision-analytic approach to bargaining and negotiation, heuristics and biases used in this context, and how to become a more effective negotiator.

Teaching methods

Delivery type	Number	Length hours	Student hours
Lecture	11	1.00	11.00
Seminar	5	1.00	5.00
Private study hours			84.00
Total Contact hours			16.00
Total hours (100hr per 10 credits)			100.00

Private study

Post-lecture reading: 22 hours
Seminar reading and preparation: 15 hours
Assignment preparation: 47 hours

Opportunities for Formative Feedback

Students will receive verbal feedback during seminars on the contribution made to seminar discussion.

Methods of assessment

Coursework

Assessment type	Notes	% of formal assessment
Essay	3,000 words	100.00
Total percentage (Assessment Coursework)		100.00

Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated

Reading list

The reading list is available from the Library website

Last updated: 15/08/2017

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