Emphasis is placed on assessing the individual and group processes that serve as barriers to effective decision making and helping managers overcome these barriers so they can make better decisions. The course examines not only how managers make decisions but also how they should make decisions. It conveys an appreciation for the extraordinary scale and complexity of the information needed to manage effectively and demonstrates how decision models can serve to organize this information and provide tools for analyzing and improving the decision process. Specific topics include linear programming, multiperiod planning models under uncertainty, nonlinear programs and Monte Carlo simulation. This course is about the solution of management problems using mathematical modeling.
Emphasis is placed on the application of the models through the use of case studies.
Topics include advanced optimization models, integer programming, heuristics, Markov processes, queueing models, dynamic programming simulation and forecasting. Applications are selected from production management, inventory control, finance, corporate strategic planning, facility layout and design and other management areas. This course is about the art and science of creating agreements between two or more parties. Students discuss and apply concepts developed in behavioral science and game theory as guides to improved negotiating. Students develop and sharpen negotiating skills by negotiating with other students in real world cases.