LSM 506 - Executive Decision Making

Institution:

Cornell University

Subject:

Description:

In today's competitive business climate, it is imperative that executives know how to make key decisions quickly and decisively. Strategic decisions often entail considerable risks and can have long-range implications for the organization. In this course, learners will learn how to apply formal decision-making processes in order to reduce risk and choose the best course of action for their organization. They will learn methods and techniques for making critical decisions in a challenging environment with limited time and resources. This course focuses on how to maximize available assets, identify risks and obstacles, and gather the necessary data for an informed decision-making process. Who Should Take This Course This course is a priority for executives, managers, and team leaders responsible for their organizations' strategic and operational decisions. Course Format This course contains the following modules: The Executive's Decision-Making Tasks Organizational factors and personal characteristics that affect decision making Framing and categorizing situations to aid in making effective, objective decisions Conducting decision-tree analyses Gathering data and evaluating it for completeness, relevance, and possible bias Formal Methods for Executive Decision Making Most common formal methods and when to use them Bayesian analysis Benefits to Learner Learners who complete this course will be able to: Gather crucial data and resources to inform the decision-making process Identify appropriate situations for involving others in a decision-making process Ascertain risks, uncertainties, and ambiguities in an executive decisionmaking environment Overcome organizational factors that complicate decision making Apply formal methods such as decision trees and Bayesian analysis to arrive at appropriate decisions Certificate Information This course can be applied to the following certificates: Business Leadership Skills Leading Management Teams Executive Leadershippleting this course, Sponsoring School Cornell University's School of Hotel Administration

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.cornell.edu

Phone Number:

(607) 255-2000

Regional Accreditation:

Middle States Association of Colleges and Schools

Calendar System:

Semester

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