HST410 - Business Decision Making and Problem Solving

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Last revision date Dec 21, 2020 9:20:08 AM
Last review date Dec 23, 2020 10:04:54 AM

Subject Title
Business Decision Making and Problem Solving

Subject Description
Business managers are faced daily with a variety of problems and opportunities in finance, marketing, human resources, and operations management. In this course, participants explore typical business problems and use decision-making models and problem-solving strategies to resolve the issues. The purpose of this course is to provide participants with an understanding of an integrated and interrelational approach to business decision-making and problem-solving. Building on a framework of qualitative and quantitative decision making concepts and tools, participants will be required to analyse business cases and situations, synthesise and apply their knowledge of human resources, marketing, finance and operations management to develop and recommend synergistic decisions in different business scenarios. In addition they would also be required to provide solutions to the various kinds of business problems faced by organizations.

Credit Status
One credit.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

  1. Describe and apply decision-making theories, approaches and models such as the Rational, Organisational, Political and Process in simulated business case scenarios.
  2. Collect and synthesize relevant business case related information by researching current and updated business publications, Internet resources along with group discussions, consultations and observations to generate alternatives and facilitate decision-making and problem-solving.
  3. Design and select the most appropriate implementation strategies and tasks, including but not limited to organization structure, roles and responsibilities, to manage the chosen solution to a problem or an issue in a business case scenario.
  4. Select an approach to measure the outcomes of the chosen solution that includes and is not limited to information systems, performance metrics and other control measures in a given business case scenario.
  5. Prepare a business report as an outcome of each business case incorporating the different components of the decision-making process.
  6. Approach business situations and group environments with flexibility, tact, and listening and summarizing skills while working in a group to discuss and collaborate on simulated interrelational business case scenarios that integrate the different functional areas of a business.
  7. Negotiate, present and defend solutions to simulated business problems and issues on an individual as well as a group basis.
  8. Consider ethical and social responsibility issues and criteria in determining courses of action for a business after factoring in the impact of PEST (political, economic, socio-cultural, technological and legal) variables in its external environment.

Essential Employability Skills

    •  Communicate clearly, concisely and correctly in the written, spoken and visual form that fulfils the purpose and meets the needs of the audience.

    •  Respond to written, spoken, or visual messages in a manner that ensures effective communication.

    •  Apply a systematic approach to solve problems.

    •  Use a variety of thinking skills to anticipate and solve problems.

    •  Show respect for diverse opinions, values, belief systems, and contributions of others.

    •  Interact with others in groups or teams in ways that contribute to effective working relationships and the achievement of goals.

    •  Manage the use of time and other resources to complete projects.

    •  Take responsibility for one's own actions, decisions, and consequences.

Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: http://www.senecacollege.ca/about/policies/academic-integrity-policy.html Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).

Please visit the Academic Integrity website http://open2.senecac.on.ca/sites/academic-integrity/for-students to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.