Quantitative Analysis in Business Decision Making
Quantitative Analysis in Business Decision Making
1. 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
2. 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
Study quantitative analysis techniques for efficient management. Various quantitative techniques are used to achieve business decision making. Content topics include the application of models in business problem solving; forecasting, decision making theories, game theory, job assignment, linear programming, transportation models, and PERT and CPM for project management. Knowledge of theories and quantitative techniques are gained for business decision making.
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 คุณธรรม จริยธรรมที่ต้องพัฒนา
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
1.1 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 วิธีการสอน
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
1.2 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 วิธีการประเมินผล
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.
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 ความรู้ที่ต้องได้รับ
2.1 ความรู้ที่ต้องได้รับ 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.
2.1 ความรู้ที่ต้องได้รับ 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 วิธีการสอน
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.
2.2 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 วิธีการประเมินผล
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
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 ทักษะทางปัญญา ที่ต้องพัฒนา
3.1 ทักษะทางปัญญา ที่ต้องพัฒนา 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.
3.1 ทักษะทางปัญญา ที่ต้องพัฒนา 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 วิธีการสอน
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.
3.2 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 วิธีการประเมินผล
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.
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 ทักษะความสัมพันธ์ระหว่างบุคคลและความรับผิดชอบ ที่ต้องพัฒนา
4.1 ทักษะความสัมพันธ์ระหว่างบุคคลและความรับผิดชอบ ที่ต้องพัฒนา 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
4.1 ทักษะความสัมพันธ์ระหว่างบุคคลและความรับผิดชอบ ที่ต้องพัฒนา 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 วิธีการสอน
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.
4.2 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 วิธีการประเมินผล
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
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 ทักษะการวิเคราะห์เชิงตัวเลข การสื่อสารและการใช้เทคโนโลยีสารสนเทศ ที่ต้องพัฒนา
5.1 ทักษะการวิเคราะห์เชิงตัวเลข การสื่อสารและการใช้เทคโนโลยีสารสนเทศ ที่ต้องพัฒนา 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.
5.1 ทักษะการวิเคราะห์เชิงตัวเลข การสื่อสารและการใช้เทคโนโลยีสารสนเทศ ที่ต้องพัฒนา 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 วิธีการสอน
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
5.2 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 วิธีการประเมินผล
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
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
| กิจกรรมที่ | ผลการเรียนรู้ * | วิธีการประเมินผลนักศึกษา | สัปดาห์ที่ประเมิน | สัดส่วนของการประเมินผล |
|---|---|---|---|---|
| 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 and Quiz | 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% |
Anderson, D. R., Sweeney, D. J., Williams, T. A., Camm, J. D., & Cochran, J. J. (2020). An introduction to management science: Quantitative approaches to decision making (16th ed.). Cengage Learning.
Stevenson, W. J. (2021). Operations management (14th ed.). McGraw-Hill Education.
Jay Heizer, Barry Render, Operation Management, 9th Edition, Pearson International Edition, Pearson Education, 2009
John J. Coyle, Bardi, C. John Langley Jr, The Management of Business Logistic (A Supply Chain Perspective)7th edition 2003, South- Western Cengage Learning
Stevenson, W. J. (2021). Operations management (14th ed.). McGraw-Hill Education.
Jay Heizer, Barry Render, Operation Management, 9th Edition, Pearson International Edition, Pearson Education, 2009
John J. Coyle, Bardi, C. John Langley Jr, The Management of Business Logistic (A Supply Chain Perspective)7th edition 2003, South- Western Cengage Learning
The evaluation of the effectiveness of this course, as conducted by students, includes activities designed to collect their ideas and opinions as follows:
Evaluation based on student learning outcomes. or Evaluation of teaching by students (through the university’s evaluation system) or Written reflections and feedback from students after completing lessons in the course.
Evaluation based on student learning outcomes. or Evaluation of teaching by students (through the university’s evaluation system) or Written reflections and feedback from students after completing lessons in the course.
The strategies used to collect data for teaching evaluation are as follows:
1) Self-evaluation after teaching and after each in-class activity conducted by the instructor; or
2)Self-evaluation after teaching based on students’ learning outcomes, considering exam scores, reports, or assigned projects.
1) Self-evaluation after teaching and after each in-class activity conducted by the instructor; or
2)Self-evaluation after teaching based on students’ learning outcomes, considering exam scores, reports, or assigned projects.
Following the results of the teaching evaluation mentioned in Section 2, improvements to teaching were made through brainstorming activities and the collection of additional information to enhance instructional practices, as follows:
1) Knowledge Management (KM) meetings among instructors to share experiences and develop teaching and learning practices.
2)Professional development by attending training sessions and academic seminars to enhance teaching knowledge and skills.
1) Knowledge Management (KM) meetings among instructors to share experiences and develop teaching and learning practices.
2)Professional development by attending training sessions and academic seminars to enhance teaching knowledge and skills.
The verification of student achievement standards, as expected from the learning outcomes of the course, is conducted by an appointed committee consisting of the program administrators, curriculum committee members, and faculty members of the discipline. The procedures are as follows:
1)Evaluation based on learning outcomes conducted by students
2)Evaluation of teaching by students (through the university’s evaluation system)
3)Analysis of alignment and assessment criteria in accordance with TQF3/TQF5 (Thai Qualifications Framework for Higher Education) by the verification committee
4)Evaluation of examinations, practical work, project reports, grading, and sources of grades by the program or subject committee responsible for the course
5)Review and improvement planning for enhancing the effectiveness of the course.
Based on the evaluation results and the verification of course achievement standards, plans for improving teaching methods and course details are developed to ensure higher quality, as follows:
5.1) Report of verification results to the curriculum or program committee
5.2) Integration of verification results into the TQF5 report and preparation of an improvement plan for the next TQF3 revision by the course instructor
5.3) Application of verification findings to improve and develop the curriculum by the program head.
1)Evaluation based on learning outcomes conducted by students
2)Evaluation of teaching by students (through the university’s evaluation system)
3)Analysis of alignment and assessment criteria in accordance with TQF3/TQF5 (Thai Qualifications Framework for Higher Education) by the verification committee
4)Evaluation of examinations, practical work, project reports, grading, and sources of grades by the program or subject committee responsible for the course
5)Review and improvement planning for enhancing the effectiveness of the course.
Based on the evaluation results and the verification of course achievement standards, plans for improving teaching methods and course details are developed to ensure higher quality, as follows:
5.1) Report of verification results to the curriculum or program committee
5.2) Integration of verification results into the TQF5 report and preparation of an improvement plan for the next TQF3 revision by the course instructor
5.3) Application of verification findings to improve and develop the curriculum by the program head.