Decision Making

The ability to make effective and timely decisions is an essential skill for successful executives. Mastery of this skill influences all aspects of day-to-day operations as well as strategic planning. In this course you can learn:

-Respond decisively and consistently when faced with situations that require a decision

-Determine the most important features of the decision you need to make, based on the setting and the context

-Recognize and compensate for psychological factors in yourself and in others that affect decision quality

-Incorporate available information into decisions, with an awareness of the limitations of that information

-Establish responsibilities and accountabilities to ensure effective follow­through on decisions made

The goal of mastering the discipline

to form the theoretical and methodological foundations of methods of strategic decisions, to develop practical skills in strategic decision-making, in
conditions of incomplete information and constant changes in the external environment, the ability to find alternatives under uncertainty.

The skills you get

  • ability to develop corporate strategy, organizational development and change programs and ensure their implementation
  • use the methods of economic and strategic analysis of the behavior of economic agents and markets in the global environment

Topics covered

  • 1. Strategic decisions
  • 2. Human processing of information and decision-making traps
  • 3. The process of making strategic decisions
  • 4. Risk and probabilities
  • 5. Development and implementation of an effective strategic decision-making process

When instructed

  • 3rd year, 2nd semester

List of references and sourses

J. Frank Yates, Decision Management: How to Assure Better Decisions in Your Company, 2003