Decision Making Techniques in Management
6 Credits (ECTS)
Decision Making Techniques in Management
Get 70% back via Tax Credit
€280 refund on this module
Module Description
Taking the right decisions is important in every aspect of one’s life; decisions are unfortunately something one is constantly faced with.
Decision making skills are very important, more so when running a business or managing an organisation, since making the right decisions can make or break a business or organisation.
Therefore it’s important that the correct process, techniques and tools are used to reach the correct decision for own business or organisation to thrive.
This unit is vital in a management course since it will introduce the wide variety of decision-making techniques and tools as well as enable budding managers to make the right choices for the survival and success of own organisation or business.
Entry Requirements
Candidates who apply for this course must possess:
- a qualification at MQF Level 4 (one ‘A’ Level or equivalent in any subject)
AND
- a pass in English* and Mathematics at MQF Level 3 (‘O’ Level or equivalent).
Preference is given to applicants having a year of work experience related to the field of study.
*Students whose first language is not English will be required to demonstrate evidence of an adequate level of English proficiency.
Target Audience
This course is targeted at people who wish to have a thorough background in management in order to progress further in their careers, such as:
- Supervisors
- Coordinators
- Assistant Managers
- Junior Managers
- Middle Managers
- Project Coordinators/ Project Managers
The target group can also be extended to groups that have significant management experience but lack a formal qualification, such as managing directors and officers.
Career Paths
The programme aims to help you progress from first–level supervisory positions to higher managerial roles such as:
- Manager
- Senior Manager
- Head of Department
- Director etc. of any organisation both in the private and public sector.
How you’ll be assessed
The course comprises:
- Evening classes for part-time courses.
- Classes held throughout the day for full-time courses.
- Guided learning, presentations, comprising synchronous online discussions, tutorials and/or videos.
- Self-study hours comprising research, reading and assignment work.
Assessment
Assessment is carried out via two mandatory components:
- Modular Assessment
- Summative Assessment
The programme includes different forms of assessment which allow for and promote students’ critical engagement. The formative and summative assessment tasks may include an in-class assignment and/or a home-based written assignment using diverse assessment tools which may take the form of online and in-class discussions, examinations, case studies, reports, proposals, essays, and presentations, etc., as applicable to the diverse modules.
Additional Info
Upon successful completion of this course, students will be eligible for a 70% refund of the cost through the ‘Get Qualified’ scheme.**
Due to the modular structure of the course, you may also opt to take individual modules as stand-alone. The entry requirements still apply.***
*Prices are applicable to students who reside in Malta at the time of applying.
Learning Outcomes
Competences:
At the end of the module/unit the learner will have acquired the responsibility and autonomy to:
- Carry out a SWOT and PEST analysis of own business or organisation to assess new idea, its potential and market suitability.
- Follow up on decision to ensure proper and effective implementation.
- Participate in brainstorming activities to discuss ideas, build new thoughts and receive feedback.
- Collect information and relevant data to do an informed decision that benefits own company or organisation.
- Communicate decisions to relevant parties and gather feedback.
Knowledge:
At the end of the module/unit the learner will have been exposed to the following:
- The importance of Good Decision Making.
- Decision Making tools and techniques.
- The 7 basic steps in effective decision making.
- The Pareto Principle.
- Data Gathering Techniques.
- Research Methodologies.
- SWOT and PEST Analysis.
- Software to visually illustrate data.
- Market changes and development.
- Formulating Action Plan.
- Documentation and Reporting Decisions.
- Communicating Decisions.
- Gathering Feedback.
Skills:
At the end of the module/unit the learner will have acquired the following skills:
- Apply the Pareto Principle to assess and prioritise choices.
- Use the most suitable processes and techniques as aids in own decision-making process.
- Design a template as a tool to measure strategies chosen.
- Set up a focus group to test decision taken before implementation.
- Collect feedback as a means to improve own decision plan.
- Follow the 7 basic steps of effective decision making when making a decision for own company or organisation.
Judgment Skills and Critical Abilities:
The learner will be able to:
- Choose the most appropriate decision making tool for a given situation.
- Identify the decision to be made according to present situation and needs of own organization or business.
- Determine the consequences of bad decisions for a business or organisation.
- Compare and contrast the pros and cons of own decision according to current situation and market needs.
- Formulate an action plan using the appropriate software to communicate it.
- Assess the market to keep abreast changes and new development.
Module-Specific Communication Skills:
The learner will be able to: a
- Explain the importance of decision making for the effective running and success of a business decision.
- Discuss own ideas with relevant parties to identify possible options and solutions.
- Write a report to document actions taken for reference and filing.
Module-Specific Digital Skills and Competences:
The learner will be able to:
- Navigate through the online learning platform to benefit from assignments, discussion boards, literature, tutorials etc.