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Explain BBA3826 Managerial Decision Making
This particular course is supposed to investigate the theory regarding decision-making as it is inclusive of the process of rational decision-making where there are several problems associated with making those decisions that are logical. In addition to this, ethics and fairness in decision-making is also supposed to be highlighted through various ways as it would enhance the process of decision-making for an individual as well as a group. The objectives of the course along with the learning outcome is considered to be regarding the summarizing of the foundations of the decision-making for managerial purposes. It also includes the examination of the rational decision-making process and along with such the exploration of the psychological aspects regarding decision-making as this helps in evaluating the role as well as fairness related to ethics as a part of the managerial decision-making. Furthermore, the learning outcomes would also be consisting of the consideration of motivation as well as emotion as such would cause an effect in the managerial decision-making process as it would assist in outlining the decision-analysis approach through negotiations. It would also help in discussing the methods for improving the managerial decision-making process as it would be summarizing the best practices that would be suitable for decision-making.
Thus, the coursework teaches the students how to explore the rational decision-making process in making investment decisions as such are considered to be necessary. The course would be inclusive of several assignments and examinations that would assist the students in delving deeper into the concept. This would create a better scope for completing the assignment as the articles would be related to rational decision-making processes in investment. The individuals in this course would also have to summarize as well as critique the article through several concepts that would help in application as such is supposed to be learned in the unit. During such critique the individuals need to be sure in order to include the information that is supposed to be relevant as the explanation would be provided based on that as it would help in making rational decisions as the investment strategies would be applied. Thus, the identification and detection of investment strategies would be based on long-term as well as optimal growth as it would be explaining the fairness and ethics by applying such on-investment decisions. The course also analyzes the differences and distinctions relating to the decision-making process as it is supposed to be caused through the distinctions in several dimensions. Therefore, the influence of distinct cultural dimensions would help in making a deductive approach for the qualitative research in the course and such would be beneficial for the students as the usage of inductive approach or content analysis method in the business would be hampering the logical decision-making process. This course is taught in the Maastricht University which is situated in The Netherlands and it is a part of their postgraduate program.
Thus, the coursework and the unit learnings would focus on teaching the process of managerial decision-making. It is supposed to be the process that aims at deciding to resolve the identified problems as such enables the effective as well as efficient performance of business activities. This is supposed to act as a cognitive process of making choice that is considered to be on the basis of available information along with knowledge and experience or beliefs of the decision-makers among other things. Therefore, it involves certain rational as well as irrational mechanisms that would be dependent upon the difficulties or the complexities of the decision that the managers are supposed to make. Hence, it can be stated that the rational as well as irrational mechanisms are supposed to create the scope for making complex decisions and the assessments in the coursework would assist the students with such. Management is supposed to help the corporations to realize about their business goals as this help them in planning as well as organizing or leading and controlling of the resources. Nevertheless, it is necessary to make a decision as the managers are supposed to make certain functional decisions that would be adequate and would contribute towards the enhancement and improvement of the work processes as well as the relationships in the organization. Therefore, making any good decisions would help the individuals in implying the knowledge as there are certain environmental factors that need to be taken care of for influencing the business performance. This would therefore, be important and pivotal for the enterprises as they operate in both national as well as international market. Decision-making thus, is supposed to be crucial for starting and running a business enterprise as it is supposed to face large number of problems that would require decisions.
The coursework is supposed to first aim at establishing the objective as it is the first step that needs to be learned for the decision-making process and it would be used for constituting the objective of the course and the learning outcomes of the course. After such, it would move on to discover the objectives of business enterprises as such would help in maximizing the profits through the usage of effective decision-making skills. However, the objective of the public enterprise would be to maximize the profits as it would follow the benefit-cost criterion and due to such it carries a lot of weightage. This would help the students to assess all social costs as well as benefits for making a decision. The second aim would be to define the problem as this would help in detecting the problem associated with the decision-making process. It would investigate the problems and try to come up with solutions through the usage of outdated technologies. The third aim would be to identify the possible alternative solutions as well as course of action. The fourth aim would be to evaluate or assess the alternative courses of action and the fifth aim would be to implement or execute the decision as such would be evaluated on the basis of the decision through the assessment of the alternative courses of action. Thus, these objectives would help the students delve deeper into the coursework and obtain a better understanding of the subject as such would also secure a better future for them.