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 lack formal training in decision-making. This 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, it furnishes crucial guidance on decision-making models and techniques, facilitating the ability to make well-informed decisions, navigate uncertainty, enhance success rates, and cultivate managerial effectiveness.

Targeted Groups:

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

Course Objectives:

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

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

Targeted Competencies:

• Decision-making.
• Risk management.
• Risk assessment.
• Evaluation.
• Budgeting.
• Analytical thinking.
• Financial decision-making.

Course Content:

Unit 1: Principles of Decision-Making: 

• Evaluation of decision-making processes.
• Conventional decision-making model.
  Range of decision-making approaches.
• Townsend’s guidelines.
• The RAPID framework.

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

• Lewin's force field analysis to gauge support and opposition.
• Conducting scenario analysis to envision potential outcomes.
• Illustrating through case studies.
• Assessing stakeholders' responses via mapping.
• Navigating decision-making politics.

Unit 3: Risk-Informed Decision-Making:

• Utilizing a risk impact/probability chart
• Key features of the risk/impact probability chart
• Conducting decision tree analysis
• Steps for implementing decision tree analysis
• Practical application exercises

Unit 4: Financial Literacy for Decision Makers:

• Understanding capital budgeting and cost of capital.
• Exploring Accounting Rate of Return (ARR).
• Examining Payback Period (PP).
• Analyzing Net Present Value (NPV).
• Evaluating Internal Rate of Return (IRR).

Unit 5: Executing Your Decisions Effectively:

• Utilizing the Round's Trap model.
• Implementing Shewhart’s PDCA model.
• Engaging in application exercises.
• Extracting insights from lessons learned.