PE5003 - Judgement and Decision Making

What will I learn on this module?

Little affects our lives more than the quality of the decisions we make. In a business context, effective decision making is likely to have a significant impact on the performance of an organisation and managers are responsible for not only the quality of their own decisions, but also for influencing and managing the environment in which others make decisions.

In this module you will learn about the importance of decision-making and the type of information which can be used to support decision makers. This will involve studying techniques which can be used to evaluate business projects, as well as considering how cognitive and behavioural influences may impact on judgement and decision making.

In addressing these issues the topics you will study will be drawn from the following themes:

• The importance of the decision-making process in managing organisational performance.
• Relevant information to support decision making
• Using financial models to inform business decisions.
• The implications of risk and uncertainty for decision making.
• Behavioural and cognitive influences on judgement and decision making

What will I learn on this module?

Little affects our lives more than the quality of the decisions we make. In a business context, effective decision making is likely to have a significant impact on the performance of an organisation and managers are responsible for not only the quality of their own decisions, but also for influencing and managing the environment in which others make decisions.

In this module you will learn about the importance of decision-making and the type of information which can be used to support decision makers. This will involve studying techniques which can be used to evaluate business projects, as well as considering how cognitive and behavioural influences may impact on judgement and decision making.

In addressing these issues the topics you will study will be drawn from the following themes:

• The importance of the decision-making process in managing organisational performance.
• Relevant information to support decision making
• Using financial models to inform business decisions.
• The implications of risk and uncertainty for decision making.
• Behavioural and cognitive influences on judgement and decision making

How will I learn on this module?

You will learn through a range of interactive on-line learning materials, scheduled on-line workshops at key points in the module, tutor guidance, feedback, and independent directed and self-directed learning. Importantly, you will also learn at work, through reflecting on your experiences and applying your knowledge from the module to your practice in the workplace. The workshops will introduce you to module, assessment and key theories and concepts.

Your learning is supported by a Teaching and Learning Plan, offering guidance on what you should be doing on a week by week basis. This will include engaging with the online learning materials, reading, workplace reflection and preparing for the scheduled online interactive workshops. These are designed to help with the completion of the assessment. Within this plan there are also suggested learning activities, which guide you in your independent learning. These activities allow you to reflect and evaluate your knowledge and skills in this area.

How will I learn on this module?

You will learn through a range of interactive on-line learning materials, scheduled on-line workshops at key points in the module, tutor guidance, feedback, and independent directed and self-directed learning. Importantly, you will also learn at work, through reflecting on your experiences and applying your knowledge from the module to your practice in the workplace. The workshops will introduce you to module, assessment and key theories and concepts.

Your learning is supported by a Teaching and Learning Plan, offering guidance on what you should be doing on a week by week basis. This will include engaging with the online learning materials, reading, workplace reflection and preparing for the scheduled online interactive workshops. These are designed to help with the completion of the assessment. Within this plan there are also suggested learning activities, which guide you in your independent learning. These activities allow you to reflect and evaluate your knowledge and skills in this area.

How will I be supported academically on this module?

The Teaching and Learning plan will provide several prompts and guidance to support you academically. Support will also include opportunities to gain feedback from workshop tutors and peers through the online discussion board and Blackboard Collaborate.

Your module is supported by an e-learning portal, which houses all the module learning materials, workshop resources, interactive activities, assessment details and various other support facilities which are provided by the University.

In addition, to assist you in developing knowledge, you will have access to the University's library facilities, including extensive electronic resources, eBooks and electronic academic journal articles.

How will I be supported academically on this module?

The Teaching and Learning plan will provide several prompts and guidance to support you academically. Support will also include opportunities to gain feedback from workshop tutors and peers through the online discussion board and Blackboard Collaborate.

Your module is supported by an e-learning portal, which houses all the module learning materials, workshop resources, interactive activities, assessment details and various other support facilities which are provided by the University.

In addition, to assist you in developing knowledge, you will have access to the University's library facilities, including extensive electronic resources, eBooks and electronic academic journal articles.

What will I be expected to read on this module?

All modules at Northumbria include a range of reading materials that students are expected to engage with. The reading list for this module can be found at: http://readinglists.northumbria.ac.uk
(Reading List service online guide for academic staff this containing contact details for the Reading List team – http://library.northumbria.ac.uk/readinglists)

What will I be expected to read on this module?

All modules at Northumbria include a range of reading materials that students are expected to engage with. The reading list for this module can be found at: http://readinglists.northumbria.ac.uk
(Reading List service online guide for academic staff this containing contact details for the Reading List team – http://library.northumbria.ac.uk/readinglists)

What will I be expected to achieve?

Knowledge & Understanding:
1) Your knowledge of key concepts, models and theories relating to judgement and decision making.
(MLO 1)

2) Your appreciation of gaps in your knowledge and their potential influences on how you have interpreted and applied it.
(MLO 2)

Intellectual / Professional skills & abilities:

3) Your ability to apply your knowledge of judgement and decision making as a means of identifying and evaluating initiatives that have the potential to enhance an organisation’s performance.
(MLO 3)

What will I be expected to achieve?

Knowledge & Understanding:
1) Your knowledge of key concepts, models and theories relating to judgement and decision making.
(MLO 1)

2) Your appreciation of gaps in your knowledge and their potential influences on how you have interpreted and applied it.
(MLO 2)

Intellectual / Professional skills & abilities:

3) Your ability to apply your knowledge of judgement and decision making as a means of identifying and evaluating initiatives that have the potential to enhance an organisation’s performance.
(MLO 3)

How will I be assessed?

Formative feedback will be provided in relation to a range of online activities throughout the module.

Your summative assessment will take the form of a 2,500 word assignment which will address all module learning outcomes. (MLO 1-3)

Criteria will be provided to enable you to understand what is expected in the assignment and how you will be assessed on your performance.

Course info

Credits 20

Level of Study Undergraduate

Mode of Study 3 years Distance Learning

Department Newcastle Business School

Location City Campus, Northumbria University

City Newcastle

Start Upcoming Intakes - April 2024, July 2024

Fee Information

Module Information

All information is accurate at the time of sharing.

Full time Courses starting in 2023 are primarily delivered via on-campus face to face learning but may include elements of online learning. We continue to monitor government and local authority guidance in relation to Covid-19 and we are ready and able to flex accordingly to ensure the health and safety of our students and staff.

Contact time is subject to increase or decrease in line with additional restrictions imposed by the government or the University in the interest of maintaining the health and safety and wellbeing of students, staff, and visitors, potentially to a full online offer, should further restrictions be deemed necessary in future. Our online activity will be delivered through Blackboard Ultra, enabling collaboration, connection and engagement with materials and people.

 

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