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

  
Degree programme:Bachelor International Business Full-time
Type of degree:FH BachelorĀ“s Degree Programme
 Full-time
 Winter Semester 2021
  

Course unit titleStrategic Decision Making
Course unit code025007055003
Language of instructionEnglish
Type of course unit (compulsory, optional)Elective
Semester when the course unit is deliveredWinter Semester 2021
Teaching hours per week2
Year of study2021
Level of course unit (e.g. first, second or third cycle)First Cycle (Bachelor)
Number of ECTS credits allocated3
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

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