MGS410 - Management Studies

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Last revision date Apr 6, 2020 8:37:06 AM
Last review date Apr 6, 2020 8:38:02 AM

Subject Title
Management Studies

Subject Description
Through the use of computer simulations of specific markets, students are required to make decisions concerning pricing, marketing, production, personnel and finance. To do this effectively, students will need to call on the knowledge they have acquired in other subjects. As the results obtained are affected by the decisions of competing teams, students will be required to analyze information provided after each run.

Credit Status
One credit.

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

  1. Analyze the various business functions and their interdependence within the internal business environment.
  2. Analyze business trends, assess public wants and evaluate the interaction between the internal business environment and the external economic climate.
  3. Solve a business problem by using an organized approach to define the problem, identify alternative actions and possible outcomes, and recommend, with rationale, the preferred course of action.
  4. Demonstrate an appreciation of other's needs, ways of encouraging positive relationships, an awareness of conflict sources, and strategies for conflict resolution when working as a member of a group.
  5. Identify the tasks from initiation to completion of a project, develop a schedule, allocate resources and priorities, monitor progress and revise the plan to include new information.
  6. Prepare standard business communications and reports.
  7. Use working knowledge of accounting to prepare and analyze basic financial statements and understand the financial infrastructure of the business.
  8. Apply basic mathematical and statistical concepts to the analysis of business information.
  9. Understand operations management functions and be able to describe, analyze and improve the process.
  10. Analyze a variety of computer generated reports and prepare a long-term plan for maximizing profits and share price.
  11. Through the use of a computer simulation, implement the long-term plan, making necessary adjustments throughout the simulation period.
  12. Understand the effects of the simulation decisions and their interrelationship with other activities.
  13. Demonstrate the ability to effectively participate as a group member.
  14. Prepare clear, concise written reports on the results of the business simulation.

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.

Analyze, evaluate, and apply relevant information from a variety of sources.

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

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: 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 to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

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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.