Information on individual educational components (ECTS-Course descriptions) per semester

Degree programme: Bachelor International Business Part-time
Type of degree: FH Bachelor´s Degree Programme
Part-time
Winter Semester 2021

Course unit title Strategic Decision Making
Course unit code 025007055003
Language of instruction English
Type of course unit (compulsory, optional) Elective
Semester when the course unit is delivered Winter Semester 2021
Teaching hours per week 2
Year of study 2021
Number of ECTS credits allocated First Cycle (Bachelor)
Number of ECTS credits allocated 3
Name of lecturer(s) Jinwook LEE


Prerequisites and co-requisites

Elementary probability concepts


Course content

Integration of Management Science methodology with organizational strategy

Treatment of uncertainty in strategic environments through a knowledge of

  • The laws of probability
  • Revision of prior probabilities
  • Expected long-term gain or loss
  • Construction and analysis of decision trees.

Optimal allocation of strategic resources:

Linear and integer optimization models.

  • Finding solutions using Microsoft Excel with the ‘Solver’ add-in module.
  • Interpretation of software output.
  • Sensitivity (what/if) analysis of solution.
  • Practical and managerial implications.

Learning outcomes

Knowledge

  • Students will know the role and importance of Management Science in strategic decision making.
  • Understand the behavioural aspects of probability and risk assessment.
  • Apply model-based analytical approaches for addressing fundamental strategic issues.

Comprehension

  • Understand and develop skills for facilitating sequential thinking under uncertainty, as well as simultaneous thinking involving complex trade-offs.

Application

  • Develop analytical skills in handling strategic decision processes and arrive at objective and rational conclusions.

Analysis

  • Recognize the key components of strategic decisions and outline the sequence of events and decisions.
  • Identify critical resources and understand the relevant trade-offs.

Synthese

  • Synthesize available information and apply management science methods for achieving competitive advantage.

Planned learning activities and teaching methods

Lecture, case studies and problem solving exercises within the course


Assessment methods and criteria

Assessment Method & Criteria:

Demonstrate an understanding of basic organizational strategy concepts and modeling skills for decision making with a strategic perspective

Evaluation Criteria:

  1. Short pre-assignment and in-class individual exercise problems (30% of grade)
  2. In-class case analysis problems (40%)
  3. Post-assignment group case study (30%).

Comment

none


Recommended or required reading

Bell, Peter C. (1999): Management Science/Operations Research: A Strategic Perspective, South-Western College Publishing.


Mode of delivery (face-to-face, distance learning)

Face-to-face