BC200 Business Decision Making and Problem Solving

DESCRIPTION

This unit focuses on enhancing students’ understanding of problem solving and decision-making processes in business and management practice. This unit will improve students learning and knowledge, incorporating working viably with others, basic deduction, and mindfulness through reflection. Exercises in the unit concentrate on the part of business and innovativeness, assembling and utilizing information to bolster decision making and re- enactment of business procedures to expand students’ critical thinking, knowledge, and comprehension. Students will further develop information mining skills and learn to summarise and synthesise information.

RELEVANT COURSES

Bachelor of Agribusiness*

Bachelor of Accounting

*Core unit

Elective unit

CREDIT POINTS

10

DELIVERY MODE

On campus

Intensive

Extensive

PREREQUISITE OR CO-REQUISITE

BC100 Professional Business Communications

UNIT LEARNING OUTCOMES

LO1 Evaluate the nature of problems and critically analyse situations to make effective   decisions

LO2 Compare and contrast good and bad decisions and their outcomes

LO3 Critically assess different problem-solving strategies

LO4 Demonstrate decision making in a group/team environment

LO5 Analyse assumptions, constraints and biases in decision making situations

LO6 Interpret risk or the perception of risk influences decision situations and ethics in decision making situations

CONTENT

  • The nature of business problems: Complex and simple problems
  • How people make decisions under various conditions
  • Decision making under certainty and uncertainty
  • Problem solving strategies: SMART and other alternatives
  • Problem solving: Identifying and implementing solutions
  • The role of reason in decision making
  • Ethical decision making
  • Identifying and managing risk
  • Decision making in teams and groups
  • Simulations and scenario planning

ASSESSMENT METHODS

  1. Reflective Journal – 20%
  2. Group Written Assessment – 30%
  3. Exam – 50%

PRESCRIBED READINGS

Shannon, C. J. (2021). Collaborative problem solving: A guide to improving your workplace. London: Routledge

Check with the lecturer each semester before purchasing any textbooks