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Business Decision Making: Skills, Techniques, and Tools
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Detailed Curriculum
 
First Week: 
     
  1. What is a decision and what not?
What are the basic components?
What are the benefits of the right approach?
What are some typical mistakes?
Which are the main types of problems?
What systems do companies use to discover problems?
     
  1. The Heuristic Approach
Analytical vs.heuristic process
Heuristic techniques
Recognition
Minimalist strategy
Lexicographic
Elimination
Satisfying
Reason-based choice
  1. The Seven Steps Approach
Defining the decision
Understanding the context
Identifying the options
Evaluating the consequences
Priorities
Review
Action
Second Week:
     
  1. Review of Decision Analysis Systems
Decision trees
Influence and Venn diagrams
Probability analysis
Scenario planning 
Risk analysis and matrices
     
  1. Decisions under Uncertainty
Maximin criteria
EMV
Single attribute utility
Interpreting the utility function 
  1. Psychology of Decision making
Groups and individuals
Cognitive styles (Hermann’s Brain Dominance Instrument)
Group dynamics – attributes of decision makers
Measuring consensus
 
Test
 
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