Modern society and most certainly contemporary organisations have witnessed an escalation in the rates of connectivity and increase in information processing demands placed on those managing businesses and social enterprises. Associated with the exponential growth in speed and rates of connectivity has come the requirement for managers to work quickly in generating decisions that are high

Introduction:

Modern society and most certainly contemporary organisations have witnessed an escalation in the rates of connectivity and increase in information processing demands placed on those managing businesses and social enterprises. Associated with the exponential growth in speed and rates of connectivity has come the requirement for managers to work quickly in generating decisions that are high quality and yield positive outcomes for the enterprise. With these requirements has come agreement that a singular rational approach, one which makes use of rational processing based on studied reasoning between observed data while discounting emotion in decision making will not be sufficient. What will be required is that managers make good use of both rational and intuitive approaches in their making decisions as both will be equally necessary if the manager’s decision-making is to be effective and meet the drive for ethical and sustainable treatment of business assets, their stake holders and the wider community.

Module 2 will discuss developments in decision making theories that have given rise to the number of decision models available to the practicing manager. Decision models, which can meet the needs for fast, high quality decisions, yielding positive outcomes for those managing in the 21st century.

This Module will help you achieve the following outcomes:

a) Select and evaluate the usefulness of a range of decision making tools and reflect

b) Compare, contrast and critically evaluate sources of data as
in a range

This Module will cover:
> Use of bounded rationality in decision making
>Use of the rational processing model. Strengths and weaknesses
>Use of the dual processing model. Strengths and weaknesses
>Making sense of the neuro mythology of decision making
>Use of the NDM, naturalistic decision-making model. Strengths and weaknesses.

Time Management:

Student workload expectation is 20 hours for Module One

>3 hours Per weekly topic Facilitated study: Attending class,
responding to facilitator feedback
>7 hours Personal Study: Assessment progression, reading and
viewing resources, self-directed and collaborative online learning

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