Module Title :Understanding Business
Module Tutor :Shruti Maheshwari
Module Code :CORP1540
30 Credits – Level :1
- Aim:To enable students to gain a theoretical and practical understanding of the way quantitative methods may be utilised in business decision-making.
- General Objectives :This module provides a framework for using data in statistical forms to define, describe and resolve a wide range of business problems. Specifically the module examines the different forms that statistical data may take and how it may be interpreted and analysed to provide management information to inform decision making within the organisation.
The value of decision making can be applied to a wide range of organisational settings. These might include:-
- Interpreting market performance and trends, to extrapolate and forecast growth (decline)
- Measuring the significance of results produced from data
- Identifying production costs
- Make or buy decisions
- The optimisation of scarce resources
- Quantifying relationships and measuring the significance of these.