The objective of the course is to provide a knowledge of the concept of quantitative techniques having their application in the field of business. Uncertainty and complexity make many decisions in business environment become difficult. This course provides a systematic evaluation of managerial decision problems and a framework for analyzing decision problems by breaking them down into more manageable parts and explicitly considering the possible alternatives, the available information, and the relevant preferences. The student will gain an understanding of modeling and rational approaches to decision making and their contribution to organizational effectiveness. Implementation using existing software packages of decision models to solve various managerial problems is an integrated part of this course.
- Lecturer: CHENG JACK KIE