|Module Title||PLANNING AND DECISION MAKING|
|Co-ordinator||Mr Anthony O'Regan|
|Assessment||Exam||1.5 Hours Outcomes Assessed: 1, 2, 3. Objective Testing Exam.||70%|
|Report||Outcomes Assessed: 1, 2, 3. Seminar & Report.||30%|
Business planning, decision making and investment appraisal are all essential aspects of management and necessary for successful business control. This module provides a comprehensive understanding of the concepts and principles involved in managing a business and incorporates analyzing and solving business problems. The aim of the module is to develop students' understanding of organisational planning and decision making processes and the constraints and uncertainties within which they take place.
Describe and explain the planning framework.
a. The process of organisational planning is examined and explained.
b. Objectives are identified and provided for.
c. Realism and prudence are demonstrated.
Planning - corporate objectives and mission statements; small business planning; planning cycles.
Objectives - role and function of objectives; role of the owner/manager.
Realism - understanding business fujnctions; use of SWOT analysis.
Describe and evaluate the decision making process.
a. Explain and evaluate the process of decision making.
b. Identify and evaluate factors which affect decision making.
c. Select and use decision making techniques.
Process - decision making within the planning process; routine and non-routine decisions.
Factors - inflation, qualitative and quantitative.
Techniques - investment appraisal; decision trees; problem solving.
Identify the requirement for, and the process of contingency planning.
a. Identify and evaluate contingency planning.
b. Identify and evaluate alternative strategies for coping with risk and uncertainty.
c. Evaluate contingency plans.
Planning - application; timing; sequence; monitoring and reviewing.
Strategies - action/no action; selection of action; importance; time horizons.
Plans - identification; evaluation; monitoring.