Management Science for Business Decision-Making MGT5426
- Academic Session: 2022-23
- School: Adam Smith Business School
- Credits: 10
- Level: Level 5 (SCQF level 11)
- Typically Offered: Semester 2
- Available to Visiting Students: No
This is an introductory course on management science for solving decision-oriented problems in a wide array of business settings. We will explore the theory and application of linear programming using software, fostering students' ability to make qualitative judgements on best course of actions. Through real world examples, we will focus on what future managers should know about the practical application of management science.
Practical classes and workshops: 3 hrs x 6 weeks.
(Please refer to MyCampus for timetable)
The assessment is an individual assignment. Students will be given an assignment briefing document and the assessment criteria based on the intended learning outcomes. Descriptions and grade category of each criterion will be given.
Intended Learning Outcomes
Word Length/ Duration
2, 3, 4, 5
1, 2, 3, 5
This course aim to introduce management science techniques for decision making with real world cases. We will equip students with skills to analyse and identify best course of actions using quantitative methods and software tools. The key decision-modelling concept will be linear programming, but our main focus is fostering students' ability to draw qualitative insights such as strength and weaknesses on those identified solutions. Our purpose is to provide students with experience in using this framework to solve problem which they can apply in the workplace.
Intended Learning Outcomes of Course
By the end of this course students will be able to:
1. Describe the main features of decision-oriented problems in areas of management and finance.
2. Formulate a given real-world problem using linear programming framework comprising of objectives, decision variables, bounds and constraints.
3. Develop and present a range of options to support the long run objectives to problems, demonstrating awareness of their strengths and weaknesses.
4. Critically interpret and managerially evaluate options, including developing insights into alternative course of actions.
5. Develop effective communications and presentation skills.
Minimum Requirement for Award of Credits
Students must submit at least 75% by weight of the components (including examinations) of the course's summative assessment.