Quantitative Decision Making in Business
Quantitative Decision Making in Business
Objectives of the Course (a) students will be understand the important of quantitative Decision Making in Business (b) students will be able to adopt theory and select the right formulas to calculate (c) students able to analyze the result from calculation and give suggestions
Reasons for Course Development/Modification 1. Decision Making in Business are essential for cost reduction 2. Understanding the Decision Making in Business will enable students to develop calculation skill as well as gain more analytical skills
Course Description To study the business operations in order to plan and control the management efficiently by using various quantitative techniques to support in decision making. This course includes the application of models to solve the business problems; forecasting, model of transportation, model of assignment, linear programming, decision theory, and model of the networks. As well as using the theories and quantitative techniques to appropriately apply to the purpose and circumstances of the organization.
Number of hours provided for academic advice and guidance to students - The faculty member provides academic advice and guidance to students (Individual/group) 4 hours/week. - The faculty member announces the advising schedule by announcing and notification in class and posting to Line subject group
1.1 Ethics 1.1.1 Understand the concepts of ethics, morals and business professionalism, recognize their social responsibility, the value of morals, sacrifice, non-exploitation of others, honesty to themselves and others 1.1.2 Have self-sufficiency, diligence, perseverance, discipline, punctuality, responsibility for themselves, society, and environment. 1.1.3 Follow rules and regulations of the organization and society
1.2 Teaching strategies for developing ethics Contribution to organizational culture; students can express their ethical behavior, such as their discipline, responsibility by attending class on time, and wearing university uniform properly. Moreover, students should be good leaders as well as being a good team member. Show honesty by avoiding copying, plagiarizing others work, etc. Lecturers should be concerned about morals and ethics by adopting morals and ethics activities, such as promoting a good model for students and promoting those who self-sacrifice.
1.3 Assessment strategies for students’ ethics 1.3.1 Evaluate students’ punctuality, submission of assignments on time, and students’ participation. 1.3.2 Evaluate their self-sacrifice and willingness to participate in activities. 1.3.3 Determine the number of frauds, (if any) in examinations. 1.3.4 Evaluate students’ responsibilities toward assignments and job commitment.
2.1 Learning outcome for knowledge 2.1.1 Have knowledge about principles, theories and practices in the area of their major; can appropriately integrate the knowledge of major study with other knowledge involved, and can continually develop their knowledge by utilizing their academic skills and experience. 2.1.2 Have knowledge and understand the essence of relevant knowledge; apply knowledge and skills in problem analysis; understand and be able to explain requirements related to the field of study, including application of knowledge and skills in order to choose the right tools to solve problems and issues in daily life. 2.1.3 Have knowledge and understand the essence of the management process in planning, organization structure, operation, control and operational performance; able to improve plans and methods in response to situations. 2.1.4 Have knowledge about academic progress and business administration career, including an understanding of changing situations and their impact.
2.2 Teaching strategies for developing student knowledge 2.2.1 Instructors use a variety of teaching formats that differentiate the content of courses by focusing on theoretical and practical knowledge to achieve the body of knowledge: 2.2.2 Student centered activities are provided in learning and teaching. 2.2.3 Assign projects, reports and presentation in the class. 2.2.4 All students gain hands-on experience from enterprises by training in cooperative education or Work Integrated Learning.
2.3 Assessment strategies for students’ knowledge 2.3.1 Topic tests and assignments. 2.3.2 The mid-term tests and final tests 2.3.3 Assessment of reports done by students 2.3.4 Assessment of business plans or program proposals 2.3.5 Assessment of report presentation in class 2.3.6 Assessment of cooperative education courses
3.1 Learning Outcome for Intellectual skills 3.1.1 Able to search, interpret, analyze data, and evaluate information from multiple sources in order to creatively solve problems according to the business environment and make appropriate decisions on their own. 3.1.2 Able to suggest alternatives and outcomes using multiple approaches; able to make choices that are consistent with the situation, and which in turn can build business competitive advantages. 3.1.3 Have critical and systematic thinking, are creative and logical; can integrate knowledge from studies and experience to solve business problems and general situations.
3.2 Teaching strategies for developing Intellectual skills 3.2.1 Case studies that apply the theory of international business management. 3.2.2 Utilize cognitive skills: analysis and synthesis. 3.2.3 Provide students with learning situations based on practical, real life problems.
3.3 Assessment strategies for students’ Intellectual skills 3.3.1 ability to analyze a case and provide well-reasoned solutions. 3.3.2 ability to analyze and synthesize material from different sources to provide a coherent outcome. 3.3.3 ability to present and/or defend problem solution through written or oral assessment.
4.1 Learning outcome for Interpersonal relationship and responsibility 4.1.1 Have leadership and followership within a team; have responsibility; listen to and respect other ideas; able to resolve conflict appropriately and adopt a professional attitude. 4.1.2 Show ability in proposing initial ideas, comment on different views, new ideas, and advance ideas to support their team; can use their knowledge to solve their team’s problem in social issues appropriately. 4.1.3 Have responsibility to both develop their own learning and to continue in their career.
4.2 Teaching strategies for developing interpersonal skills and responsibility 4.2.1 Assign tasks that require contact and coordination with others. 4.2.2 Assign tasks that require interpersonal communication skills. 4.2.3 Assign tasks that require brainstorming and working together. 4.2.4 Provide activities to enhance their personal interaction.
4.3 Assessment strategies for students’ interpersonal skills and responsibilities 4.3.1 Assessment of the students’ behavior in group activities. 4.3.2 Assessment of the results of both an individual student and groups. 4.3.3 Assess student ability to communicate in a variety of situations. 4.3.4 Co-assessment products of both instructors and students.
5.1 Learning outcome on numerical skills, communication and information technology skills 5.1.1 Have ability to apply mathematics, statistics, and qualitative analysis for making business decision and daily life. 5.1.2 Have ability to communicate, explain, and promote understanding by using media techniques, methodology, communication tools and technology in the right way for both written and oral presentation efficiently and creatively. 5.1.3 Have ability to communicate effectively in Thai and a foreign language as is necessary in business. 5.1.4 Able to use information technology appropriately and bring technology to a business to support effective operation.
5.2 Teaching strategies for developing numerical skills, communication and information technology skills 5.2.1 Assign activities for students to analyze simulations or scenarios and present appropriate solutions. 5.2.2 Provide activities for students to learn technical applications, data analysis for decision making in different situations. 5.2.3 Provide opportunity to work with information communication technology.
5.3 Assessment strategies for students’ numerical skills, communication and information technology skills 5.3.1 Assessment of students’ outcomes/activities relating to numerical analysis. 5.3.2 Assessment of the individual student’s searching and using information communication technology. 5.3.3 Assessment of students’ communicative skills and presentation in class
|1||1.1.3, 4.1.1||Class participation||Every week||10%|
|2||2.1.1, 2.1.4, 3.1.1, 5.1.2||Assignments||Every week||30%|
|3||2.1.1, 2.1.4 3.1.1||Midterm Exam||8||30%|
|4||2.1.1, 2.1.4 3.1.1||Final Exam||17||30%|
1. Book and Textbook Jay Heizer, Barry Render, Operation Management, 9th Edition, Pearson International Edition, Pearson Education, 2009 Barry Render, Ralph M. Stair, JR. Quantitative analysis for management. 9th edition. Pearson prentice Hall เอกสารคาสอนรายวิชาการตัดสินใจเชิงปริมาณทางธุรกิจ (Quantitative Decision Making in Business) เรียบเรียงโดย ผู้ช่วยศาสตราจารย์สุรชัย อุตมอ่าง
2. Documents and Information Internet Search
3. Documents and Recommend Information None
Evaluation Strategies for Course Effectiveness by Students 1.Direct student feedback 2.Results of student evaluation survey
Teaching Evaluation Strategies 1.Student evaluation survey 2.Self-evaluation
Teaching Improvement 1.Professional development program (seminars, workshops, reading) 2.Discussion with colleagues.
Verification of Students Achievements in the Course 1.Effectiveness of student activities 2.Contributions during class discussions 3.Student feedback 4.Formal assessment
Course Review and Improvement Plan for the Course Efeffectiveness 1.Enhance practical components through site visits or visiting industry experts. 2.Improve teaching strategies by reviewing practices at other institutions. 3.Revise program to reflect latest developments in business problem solving