Reference no: EM13167173 , Length: 2700 words

1. Designed primarily to allow you to explore aspects of managerial decision making that were either not included in the module or that you want to gain more knowledge of than was provided during the module.

Structure the assignment as follows:

• A brief introduction outlining the background to the report (including what the topic is, why it is important, putting it into the context of managerial decision making), the aims and objectives of the report and its structure i.e. the major sections and their purpose;

• A properly referenced review of the literature (Harvard style);

• How the material can be applied to managerial decision making (i.e. your context of interest) and the implications for improving managerial decision making;

• A conclusion that identifies what has been achieved and the broader implications, given the aims and objectives of the assignment.

2. An analysis of the feasibility of applying a particular structured decision aid in your place of work, previous place of work or some other situation with which you are familiar. (This involves discussing and analysing the issues that are anticipated rather than reporting the outcomes of an actual application. It should include an appraisal of the likely benefits and problems that would be expected to arise from this application as well as an overall appraisal of the application itself).

3. Undertaking and analysing the application of a structured decision aid to your place of work, previous place of work or some other situation with which you are familiar, clearly identifying the benefits and the problems that arose from this application as well as an overall appraisal of the application itself. (Unlike 2 above, with this assignment you actually apply the aid to the situation. However you should present the outcomes of each step, discuss and analyse the issues that arose and should include an appraisal of the benefits and problems that arose from this application as well as an overall appraisal of the application itself).
For assignments 2 and 3 you might structure the report as follows:

• A brief introduction outlining the background to the report (including why decision aids are necessary, useful and why your chosen decision aid is appropriate to your situation), the aims and objectives of the report and its structure i.e. the major sections and their purpose;

• A section outlining the steps taken when undertaking the decision aid, how they would be/were resolved in this situation, their purpose and: for Assignment 3 the outputs that were generated; for Assignment 2 the kinds of outputs that might be generated (illustrate with plausible outputs based on your estimations/guesses of what they are likely to be in this situation); how these outputs would be interpreted and used;

• A conclusion outlining strengths and weaknesses of the decision aid in this context and some recommendations about how the aid should be used in the future and the extent to which your aims and objectives have been met;
• Key concepts, ideas and evaluations should, where appropriate, be referenced properly as in a formal academic essay (Harvard style)

4. An analysis of a decision making situation (your own or one that you are familiar with) in terms of the judgemental and/or decisional heuristics and strategies used, the likely errors and biases that may have occurred, and the implications these may have for the optimality of the decisions taken. (You may focus on just one heuristic in detail or several in less detail. You should also include a discussion of ways of overcoming any errors and biases).
For assignments 4 you might structure the report as follows:

• A brief introduction to heuristics and biases (including what your focus is, why it is important and put this in the context of managerial decision making), the aims and objectives of the report and its structure i.e. the major sections and their purpose;

• Define what heuristics are, why people use them and the implications of using them. Give one/some examples of heuristics and their attendant biases;

• Use one or a few examples and apply to a real world managerial context, identifying the implications of their use in this context (i.e. possible errors and biases)

• Outline any ways of overcoming these errors and biases;

• A conclusion that identifies what has been achieved and the broader implications, given the aims and objectives of the assignment;

• Key concepts, ideas and evaluations should, where appropriate, be referenced properly as in a formal academic essay (Harvard style).

5. Identify the issues of risk communication in your place of work, previous place of work or some other situation with which you are familiar. You should identify the issues involved, analyse in the context of theory, research and practice on risk perception / communication and make recommendations about how the communication strategy could be improved.
For assignment 5 you might structure the report as follows:

• A brief introduction outlining the background to the report, the aims and objectives and the structure of the report;

• A section reviewing the extant literature on how the public perceives and act in the face of risk and the relevance of these for the situation.

• A section reviewing ways of improving risk communication in general (e.g. mental models, increasing trust, ways of presenting statistical risk), their strengths and weaknesses and the relevance of all of this for your situation;

• Sections 2 and 3 should be properly referenced as in a formal academic essay (Harvard style).

• A conclusion outlining some recommendations, limitations in the research and the extent to which your aims and objectives have been met.

6. Identify some issues concerning mental accounting in your place of work, previous place of work or some other situation with which you are familiar, identify the issues involved, analyse in the context of theory, research and practice on mental accounting. You might also consider the implications of the current behaviour and how it might be improved or outline wider policy implications of your work e.g. advice to the FSA or consumer organisations

For assignment 6 you might structure the report as follows:

• A brief introduction outlining the background to the report, the aims and objectives and the structure of the report;

• A section reviewing the extant literature on mental accounting, applying this to your situation and then demonstrating the relevance of your analysis.

• A section reviewing the implications of your analysis both for the decision makers and any regulatory authorities involved, the strengths and weaknesses of your analysis and the relevance of all of this for your situation;

• Sections 2 and 3 should be properly referenced as in a formal academic essay (Harvard style)

• A conclusion outlining some recommendations, limitations in the research and the extent to which your aims and objectives have been met.