Certificate in Business Decision Models Course

Introduction:

Managers regularly face decision-making scenarios characterized by certainty, risk, or uncertainty as an integral aspect of their responsibilities. Despite this fundamental aspect of their roles, many managers need formal training in business decision-making.

This business decision models course fills this gap by equipping participants with indispensable business decision models and techniques, empowering them to enhance the caliber of their decision-making within their operational conditions.

Moreover, the Business Decision Models course furnishes crucial guidance on business decision-making models and techniques, facilitating the ability to make well-informed decisions, navigate uncertainty, enhance success rates, and cultivate managerial effectiveness.

Through this curriculum, participants will enrich their understanding of business decisions and learn how to navigate best the complex practices and tools associated with successful business decision-making.

Targeted Groups:

• Managers.
• Department heads and business professionals engaged in decision-making.
• Individuals involved in planning and strategizing for both their departments and the organization as a whole.

Course Objectives:

At the end of this business decision models course, the participants will be able to:

• Elucidate the fundamentals of sound business decision-making.
• Utilize data and business decision-making tools to make informed and enhanced decisions.
• Employ techniques centered on risk-based business decision-making skills.
• Cultivate indispensable financial literacy competencies for business decision analysis.
• Utilize tools and frameworks for executing decisions effectively.

Targeted Competencies:

At the end of this business decision models training, participants competencies will:

• Decision-making.
• Risk management.
• Risk assessment.
• Evaluation of different business decision models.
• Budgeting.
• Analytical thinking for business decision contexts.
• Financial decision-making that underpins business strategy.

Course Content:

Unit 1: Principles of Decision-Making:

• Evaluation of business decision-making processes.
• Understanding conventional business decision-making models and a range of decision-making approaches.
• Applying Townsend's guidelines.
• Introduction to the RAPID framework for business decision execution.

Unit 2: Harnessing Data for Enhanced and Informed Decision-Making:

• Using Lewin's force field analysis to gauge support and opposition in business decision-making case studies.
• Conducting scenario analysis to envision potential outcomes and their impacts on business decisions.
• Illustrating through business decision-making case studies.
• Assessing stakeholder's responses via mapping for informed business decision strategies.
• Navigating business decision-making politics.

Unit 3: Risk-Informed Decision-Making:

• Utilizing a risk impact/probability chart to align with types of business decision models.
• Key features of the risk/impact probability chart about business decision-making.
• Conducting decision tree analysis for complex business decision scenarios.
• Steps for implementing decision tree analysis in analysis for business decision contexts.
• Engaging in practical application exercises for business decision-making.

Unit 4: Financial Literacy for Decision Makers:

• In-depth understanding of capital budgeting and its influence on business decision-making.
• Exploring Accounting Rate of Return (ARR) relevant to business decision analysis.
• Examining various time value of money concepts such as Payback Period (PP) linked to business decisions.
• Analyzing Net Present Value (NPV) as a central tool for business decision-making.
• Evaluating Internal Rate of Return (IRR) for higher-order business decision analysis.

Unit 5: Executing Your Decisions Effectively:

• Strategic application of the Rounds Trap model for business decision-making effectiveness.
• Implementing Shewhart's PDCA model to ensure quality in business decisions.
• Practical engagement through application exercises focusing on business decision-making tools.
• Extracting business decision-making insights from lessons learned and applying them to real-world contexts.