MANAGEMENT SCIENCE

Course Description

Management science course combines elements of management and decision-making with mathematical and quantitative analysis. It involves the use of mathematical models and methods to solve problems and make decisions in a variety of settings, including business, government, and non-profit organizations. The course covers topics such as optimization, forecasting, decision analysis, and simulation, and may also include elements of computer programming and data analysis. The goal of the course is to provide students with the skills and knowledge they need to analyze complex problems and make effective decisions using quantitative methods.

MANAGEMENT SCIENCE

Evaluation Tools (Active Term)

No evaluation items have been defined.

Course outcomes

1. 01 understand the quantitative analysis
2. 02 describe the steps of the decision-making process and make desicions with probabilities
3. 03 understand and use various families of forecasting models
4. 04 understand the importance of inventory control model
5. 05 understand special issues in LP and quality control

Course Syllabus

Reference Books & Course Materials

1. 01 Effective Management Decision Making: An Introduction, Ian Pownall, Ian Pownall & Ventus Publishing ApS, 2012, ISBN 978-87-403-0120-5
2. 02 Quantitative Analysis for Management, Barry Render,Ralph Stair, Michael Hanna, Ninth Edition, Pearson/Prentice Hall International Edition 2006, ISBN:0-13-153688-5

Learning Outcomes

1. L01 understand the quantitative analysis
2. L02 describe the steps of the decision-making process and make desicions with probabilities
3. L03 understand and use various families of forecasting models
4. L04 understand the importance of inventory control model
5. L05 understand special issues in LP and quality control

Program Outcomes

1. P01 1. Gained the necessary skills to learn and adopt a spirit of continuous learning in their professional life.
2. P02 2. Developed various skills by working independently via specific learned techniques that both triggered individual efforts and encouraged collaborative work.
3. P03 3. Acquired the essential knowledge and skills to apply key theories, models and applications within the global business context.
4. P04 4. Adopted and applied critical and strategic thinking together with research capabilities for efficient and effective business decisions.
5. P05 5. Utilized and managed ethically information technologies required for contemporary business world.
6. P06 6. Been equipped with conceptual and analytical skills necessary for team work within global organizations.
7. P07 7. Displayed their learnt communication skills that are required to effectively interact in a cross cultural and diverse international work environment.
8. P08 8. Applied their acquired knowledge within the changing work environment.
9. P09 9. Developed an understanding of ethical perspectives and social responsibilities to be used at work and in personal life.

Po-Lo Matrix