Management Decision Making For Businesses

Management Decision Making For Businesses

Word Count: up to 3,000 words.

Learning Outcomes Addressed:

  1. LO2 – Articulate the differences between individual and group decision making, choice and problem-solving behaviour and their psychological dimensions.
  2. LO3 – Evaluate information from a range of sources and apply business data analysis techniques to provide a range of solutions to a management problem.
  3. LO5 – Evaluate the short-term and long-term consequences of business decisions for financial, environmental, and social performance
  4. LO6 – Recognise the difficulties that imperfect information, risk, uncertainty, and complexity impose upon decision-makers and determine how these difficulties may best be mitigated, using appropriate risk management techniques.

1. Assessment Summary

In this assessment, you are asked to answer five questions using concepts learned in the module. The first three questions are based on data from the simulation game. The fourth question is based on your own experience of working in a team. The fifth question is a research question.

2. Detailed Assessment Guide and Structure

Q1. Cost Benefit Analysis and pricing decisions

  • Examine the performance of the company in the case study using CVP concepts and relevant costs.

Q2. Investment options

  • Apply investments appraisal methods to decide on an investment option for the firm in the case study.

Q3. Constrained resources, scenario, and sensitivity analysis

  • Apply linear programming, constrained resource analysis, or scenario and sensitivity analysis to make a game related decision. You will be required to formulate the problem, apply one or more technique to help you make the decision, and explain the choices for the technique and the decision.

Q4. Individual and group decision making; organisational structure

  • Discuss your experience in terms of group and individual decision making in the simulation game, using the theory covered on this topic.

Q5. Social and environmental impact

  • Research question about the social and environmental impact of the sneaker market. When answering this question use theoretical concepts from the module and examples from the sneaker simulation game. You also need to undertake your own research on the topic.

3. Additional Information

The specific questions for each section will be uploaded on BB on week TBC

4. Marking Criteria 

You will be assessed on the extent of your ability to evidence

  • grasp of decision-making concepts and techniques
  • ability to apply the acquired knowledge and skills in the simulation game,
  • ability to reflect on your decisions and their impact on financial, environmental and social performance
  • Ability to reflect on the differences between individual and group decision making using theoretical concepts and experience

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