Decision Making in Business and Administration
The aim:
1. The course aims to create an understanding of leadership, negotation and decision-making in business and administration.
Acquired knowledge:
1. Student has knowledge about models for solution of problems in business management.
2. Student has knowledge about the trends in business environment.
3. Student has knowledge about business etiquette.
4. Student has knowledge about strategies, tactics and ploys in negotiations.
5. Student has knowledge of the forms of business financing.
Acquired skills:
1. Student is able to define, explain and illustrate, from theoretical and pratical perspectives, decision making coneptes and processes in business settings.
2. Student is able to use basic theories that explain business behavior.
3. Student is able to follow basic business etiquette rules.
4. Student is able to effectively prepare to any negotiations and find and use an effective leverage in negotations.
5. Student is able to write a business plan and chose the best forms of business financing.
Acquired social skills:
1. Student understand and apply the principles of rational decision making in a business and administration context.
Course contents:
1. Individual Decision-Making and Corporate Decision-Making – Definitions, object contextualization, subject matter contextualization, decision types, the factors characterizing the decision-maker.
2. The enterprise decision-making process. Decision-making techniques and models. Barriers and decision-making difficulties.
3. Decision-making rules and styles.
4. Group decision-making methods.
5. First steps in business. Traits of a good and bad entrepreneur on the basis of case study. The role of the vision and determination in business.
6. The business plan structure – What elements should a good business plan consist of?
7. Risk in business – The concept of risk and the criteria of its division.
8. Enterprise management strategies.
9. Strategies and techniques of negotiation in business. Manipulation techniques in business and how to protect oneself against them.
Recommended reading:
1. A primer on decision making: How decisions happen, James G. March, The Free Press. New York 1994.
2. Corporate Strategy. Tools for analysis and decision making, Phanish Puranam, Bart Vanneste, . 2016.
3. The Decision Book. Fifty models for strategic thinking, Mikael Krogerus, Roman Tschappeler, . 2017.
4. Business Analytics for Decision Making, Steven Orla Kimbrough, Hoong Chuin Lau, . 2016.
5. Risk Assessment and Decision Making in Business and Industry: A Practical Guide, Second Edition, Glenn Koller, . 2005.
6. Decision Making and Problem Solving in Management, Robert H. Vaughn, . 2000.
7. Decisive: How to Make Better Decisions, Chip Heath, Dan Heath, . 2014.
Additional reading:
1. Business Analytics: Data Analysis & Decision Making, S. Christian Albright, . 1999.
2. The Book on Business Planning. A step by step guide to creating a thorough, concrete and concise business plan, T. Berry, Hurdle, . 2004.
3. The Lean Startup, E. Ries, . 2011.
4. The Art of the Start: The Time – Tested, Battle – Hardened Guide for Anyone Starting Anything, G. Kawasaki, . 2009.