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AURO UNIVERSITY

(INDIA)

The School of Management & Entrepreneurship


Master of Business Administration (MBA)

Module Management Decision Science


Semester-2 (2011-2013)

Module Leader Dr. Rana Singh

www.aurouniversity.edu.in

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship

CONTENTS
Course Outcomes and Objectives Learning Outcomes Readings Learning Process Support for Your Learning Course Assessment Regulations Expectations Using Unfair Means Coursework Task 1: Spread sheet Functions Coursework Assessment Task 2: Assessed Business Plan Individual Coursework Assessment Task 2a: Assessed Presentation-Individual Coursework Assessment Task 3: Mid Term Test 1 Weekly Coverage Week 1: Management Decision Science: An Introduction Week 2: Business Modelling and Business Plans Decisions Using Ms-Excel Week 3: Linear Programming, Linear Programming Models: Graphical and Computer Methods Week 4: Linear Programming Modeling Applications with Computer Analysis in Excel Week 5: Linear Programming and Sensitivity Analysis Week 6: Transportation, Assignment and Network Models Week 7: Decision Analysis Week 8: Simulation Modeling 02 04 04 06 07 07 08 08 09 10 11 12 13 13 14 15 16 17 18 19 20 21

Course Outcomes and Objectives:


The Management Decision Science course aims at imparting business modelling skills and decision making skills in order to optimise resources at the workplace by learning the conceptual underpinnings of decision making concepts and integrating it with the spread sheet skills so as to be comfortable in decision making with the help of spread sheets. The course has two pronged focus. Firstly the students are expected to enhance their learning of the various functions, functionalities and applications of Ms-Excel and its usage in the

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship process of decision making. In the modern times, spread sheets have been used and are in vogue in the process of teaching decision making. The course contents are also taught in the name of operations research /management science /decision modelling/ Managerial Decision Modeling with spread sheets / Business Modeling / MS-Excel and Business Modeling. The course aims at imparting the various tools of decision making at the workplace and the spread sheet skills so that the MBA participants are comfortable to take decisions at the workplace by modelling the real world alternatives and scenarios using spread sheet modelling. This module handbook outlines the essential readings and references for the course and will act as a reference guide for the full semester. The students will acquire the spread sheet skills and the decision making skills by applying them on real world problems and situations. Through self-study and group working elements, first part of the course introduces students to the various functions, functionalities and applications of MS-Excel 2010 in its current form and how it is used in Business Modelling and decision making. Spread sheet based decision modelling is gaining prominence in the corporate world gradually. The MBA participants are expected to optimally integrate the knowledge of decision making tools and the knowledge regarding Ms-Excel to integrate the two in order to optimize resources and to facilitate decision making process. The students shall also be motivated to combine their power to logically model and analyse decision making scenarios with software-based solution procedures. The students are required to focus on acquiring skills needed to apply decision models to different types of organizational decision making situations. It also aims at introducing the student towards developing business plan by taking series of associated and interlinked decisions and develop financial projections, business plan report and powerpoint presentation reflecting the various decision making skills acquired during the course by completing a business plan. The objectives of the course are to: Develop spread sheet skills of the students to assist them in the process of decision making Develop Decision modelling and spread sheet modelling skills. Provide an introduction into management decision making through the application of various management techniques Develop an understanding of how such techniques fit into the wider management processes Enable the student to assess the reliability and usefulness of any information generated by quantitative techniques Enable the student to justify decisions made with quantified data using spread sheets. Enable the students to optimize resources using spread sheet skills. Enable the students with Linear Programming Modelling Applications with Computer Analysis in Excel with application in various domain areas of management.

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship

Learning Outcomes:
Through your own self-study of the reading materials outlined in this handout, your participation in your Management Decision Making Assignments and through lectures, workshops and seminars, you should be able to: Understand decision models, their importance, types, steps in developing decision models, problems in developing business models Understand the Linear programming model, formulating a linear programming problem, graphical solution of a linear programming problem with two variables, minimization of linear programming problem, setting up and solving linear programming problems using Excels Solver Model a wide variety of linear programming problems in various application areas for LP problems, including manufacturing, marketing, finance, employee staffing, transportation, blending and multi period planning Understand using graphs, the impact of changes in objective function Appreciate at an introductory level the decision making using Ms-Excel Reflect on the nature and types of management decisions in the corporate world using various tools and techniques of spreadsheet and modern simulation tool and add-in like crystal ball.

Readings:
Albright, Winston & Zappe (2009), Decision Making Using Microsoft Excel, South Western Cengage Learning Anderson, David R. & Sweeney, Dennis J. & Williams, Thomas A. (2007), An Introduction to Management Science-Quantitative Approaches to Decision Making, South Western Cengage Learning Balakrishnan, Nagraj & Render, Barry & Ralph M. Stair Jr (2008) Managerial Decision Modeling with Spreadsheets, 2nd Edition. Pearson Bhat, Shridhara K, (2011), Operations Research, First Edition, Himalaya Publication Bridgeland, David M., & Zahavi, Ron (2009) Business Modeling A Practical Guide to Realizing Business Value, Morgan Kaufmann Dodge, Marke & Stinson, Craig (2010), Microsoft Excel 2010 Inside Out, PHI Gilboa, Itzhak (2011), Making Better Decisions Decision Theory in Practice, Wiley-Blackwell

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship

Gipp, Jennifer (2008), Spotlight on: Spreadsheets, 2nd Edition, Thomson Cengage Learning Hillier, Frederick S. & Hillier, Mark S. (2011), Introduction to Management Science A Modeling and Case Studies Approach with Spreadsheets, Fourth Edition, McGraw Hill Irwin Hillier, Frederick S. & Lieberman, Gerald J. (2010) Operations Research, Special Indian Edition, Fourth Edition, Tata McGraw Hill Jechlitschka, Kurt & Kirschke, Dieter& Schwarz, Gerald (2007), Microeconomics Using Excel: Integrating Economic Theory, Policy Analysis and Spreadsheet Modeling, Routledge Taylor and Francis Group Powell, Stephen G., & Baker, Kenneth R. (2009), Management Science The art of Modeling with Spread sheets, 3rd Edition, John Wiley & Sons Ragsdale, Cliff T.(2011), Spread sheet Modeling & Decision Analysis: A Practical Introduction to Management Science, 6th Edition, South Western Cengage Learning Sharma, Anand (2011), Operations Research, Himalaya Publishing House Sharma, J.K. (2011), Operations Research, Reprinted 2011, Macmillan Tennent, John & Friend, Graham (2010), Guide to Business Modelling, First South Asian Edition 2010 Mayes, Timothy R., & Shank Todd M.(2012), Financial Analysis with Microsoft Excel, South Western, Cengage Learning Whigham, David (2011), Business Data Analysis using Excel, Indian Edition, Oxford University Press Winston, Wayne L. (2010), Excel-Data Analysis and Business Modeling, Microsoft Press In addition to the texts mentioned above, it is important to keep abreast of current /contemporary business news / issues by reading the pink dailies from India and abroad as the same facilitates the decision making process from a holistic view angle in the light of the exponentially dynamic business environment. A daily dose of leading pink dailies is highly recommended among but not limited to The Economic Times, Financial Express, Business Line, The Wall Street Journal etc. Most of these are available in the University library and are also available free of charge on the internet (If you are unsure of web address, search for the relevant newspaper using www.google.com). For e.g. The economic Times -www.epaper.timesofindia.com

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship

Learning Processes:
Your learning for the Management Decision Making course will be mainly by lectures, seminars, self-study and through your assignments, research and business plan development. The students will work on the various functions of Ms-Excel and their application on a daily basis and will work on 20 functions daily and mail it to the tutor on a daily basis. The demo examples will be done in the class. This is important to have a very strong understanding and skill development. The students are required to work in groups as well. The entire class is to be divided in group of four students. The group is likely to be 1-4, 5-8, 9-12 and so on. The students will do ungraded group assignment from the book Excel and Business Modelling and will email the group assignment on a daily basis to the Instructor. The assignment will comprise four chapters every day. Each student of the group will work on one chapter and will integrate the four chapters before sending it to the instructor. The daily assignment at individual level and the group level will facilitate a lot in the process of the Business Plan. Graded Assignment (40%) The daily assignment is an important pre-requisite for the assessment of the business plan. The students are required to submit a business plan in hard copy and soft copy to the program office by 10AM in 8th week. The students will be required to submit the business plan in one of the Indian / International Business Plan Competitions. Their awarded grades will be provisional till such time they submit the participation certificate in Business Plan Competition. The project groups will be notified to you in the week 1 of the course. (Please Note: Please consult / contact your tutor regarding any guidance/support during the course) It is expected that students will co-ordinate their group and arrange meetings etc. to complete the necessary tasks during their own time. If you are having problems with the group working element, please contact your module leader, but remember that it is your responsibility to arrange to meet up as a group and co-ordinate the necessary information gathering.

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship

Please note:
Lectures, workshops and tutorials for the module are compulsory for all students. It will be assumed by the module leader in all assessments (coursework and examinations) that students have attended all the classes.

Support for your Learning


The main form of support will be through your module leaders and seminar/workshop leaders, who are available on appointment. Also, the online support in the form of material available on the VLE regarding your module should be used to keep oneself updated. The library resources are extended through the availability of electronic databases, containing Research Journals and various other types of publications that provide you with enhanced readings and facilitate your understanding.

Course Assessments:
Coursework Assessments (40%) and Mid Term Test (20%)
The assessment for the Management Decision Making course will be made up of the following coursework elements: % Semester 1: Individual Business Plan Break-Up Ms-word Project Plan 20 Financial Projections -.xls 10 Powerpoint Presentation (5 PPT+5 class presentation) 10 th Mid Term Test (5 Week/any other dated informed in adv)20 60 For the group/individual project element each team/individual member is expected to complete a proportionate share of the group assignments. The allocation of specific tasks is the responsibility of the group. Please note: The institute reserves the right to adjust course work marks after coursework has been returned to students in order to ensure that the course work marks have an appropriate distribution.

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship

Examination
The Management Decision Making examination element will comprise a short discursive section of four questions, from which you will have to answer two questions. The specimen exam questions would be similar to the problems discussed in the class during the workshop and the solved and unsolved problems mentioned in the recommended text book. questions.

Regulations:
Late Submission of Work
Coursework submitted after the deadline, but within two working days (48 hours) of that deadline will be awarded a maximum mark of 45%. All coursework submitted after two days will normally be awarded a Zero F grade. Extension for medical reasons or extenuating circumstances must be agreed with the Module Leader in advance of the deadline where possible and supported by medical evidence where appropriate. Problems with printing and binding will not normally be accepted as valid reasons for lateness.

Attendance Regulation
All students are required to maintain above 70% attendance. Any student who is falling short of the 70% attendance rule will be allowed to take the main exam / coursework. However, in such case 10 marks will be deducted from the total marks for the concerned module. However no student will fail due to the above ruling (for example if a student has scored anywhere between 45 to 55 marks the marks will be capped at 45).

Expectations:
There are a number of expectations for your study on this module which you should be aware of. These are that you will: Adhere to the guidelines vis--vis submission deadlines; weekly readings and tasks; practice tests schedule Regularly log-in to check on the Auro University server for announcements (and material) pertaining to this module Attend all the face to face sessions and regularly connect with module/workshop leaders for any clarification pertaining to the module Be aware of the plagiarism norms of the Auro University and take care not to infringe upon the any of the same

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship

Using Unfair Means


All assessments are intended to determine your individual skills, abilities, understanding and knowledge. Cheating is defined as obtaining an unfair academic advantage and any of you found using any form of cheating, attempting to cheat or assisting someone else to cheat may be subject to disciplinary action in accordance with the University Disciplinary Procedure. The Institute takes this issue very seriously and you may be expelled or have your degree withheld for cheating in assessments. If you are having difficulty with your work it is important to seek help from your tutor rather than be tempted to use unfair means to gain marks. Do not risk losing your degree and all the work you have done. Auro University defines a number of different forms of cheating, although any form of cheating is strictly forbidden. These are: Submitting other people's work as your own - either with or without their knowledge. This includes copying in examinations; using notes or unauthorised materials in examinations Impersonation - taking an assessment on behalf of or pretending to be another student, or allowing another person to take an assessment on your behalf or pretend to be you Plagiarism - taking or using another person's thoughts, writings or inventions as your own. To avoid plagiarism you must make sure that quotations, from whatever source, are clearly identified and attributed at the point where they occur in the text of your work by using one of the standard conventions for referencing. It is not enough just to list sources in a bibliography at the end of your essay or dissertation if you do not acknowledge the actual quotations in the text. Neither is it acceptable to change some of the words or the order of sentences if, by failing to acknowledge the source properly, you give the impression that it is your own work Collusion - except where written instructions specify that work for assessment may be produced jointly and submitted as the work of more than one student, you must not collude with others to produce a piece of work jointly, copy or share another student's work or lend your work to another student in the reasonable knowledge that some or all of it will be copied Duplication - submitting work for assessment that is the same as, or broadly similar to, work submitted earlier for academic credit, without acknowledgement of the previous submission Falsification - the invention of data, its alteration, its copying from any other source, or otherwise obtaining it by unfair means, or inventing quotations and/or references.

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship

Coursework Task 1:
Ungraded The students will work on the various functions of Ms-Excel and their application on a daily basis and will work on 20 functions daily and mail it to the tutor on a daily basis. The demo examples will be done in the class. This is important to have a very strong understanding and spread sheet skill development. The students are required to work in groups as well. The entire class is to be divided in group of four students. The group is likely to be 1-4, 5-8, 9-12 and so on. The students will do group assignment from the book Excel and Business Modelling and will email the group assignment on a daily basis to the Instructor. The assignment will comprise four chapters every day. Each student of the group will work on one chapter and will integrate the four chapters before sending it to the instructor. The daily assignment at individual level and the group level is the pre-requisite for the assessment of the Business Plan.

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship

Coursework Assessment Task 2: Business Plan


This is an individual task. The final business plan must be your own work. The submission of this task will at the end of first block of second (8th week) semester, but you may wish to start gathering source materials for this task in advance. THE TASK: You should prepare a business plan on an idea of your choice: Your aim is to research this topic area widely by using resources available in the library, from course reading materials and on-line sources. Students wishing to score highly on this business plan should aim to read as widely as possible, since a better appreciation of the existing business models and business opportunity/ies will be reflected in your business plan. It is recommended that the students should study various existing business models. REQUIRED: 1. The students are required to submit the hard copy in the form of report along with the CD in a CD Cover. The CD must contain the soft copy of the business plan including MSWord File, MS Excel File, and MS Powerpoint File. 1. Your word-processed business plan should ideally be between 1,250 and 2,500 words in length. Business Plans longer than 2500 words will not be penalized. The business plan should be word-processed in Microsoft Word format. Your business plan should include: a. b. c. d. e. a brief introduction main body discussion a conclusion which summarizes the main argument/findings a reference list an appendix (if desired)

A reference list should be provided at the end of your business plan, which refers only to those sources, books, articles and website addresses you have actually used in writing your essay. The reference list is not included in the word count. AURO has adopted the Harvard system of referencing(see Appendix 2).

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship IMPORTANT: Plagiarism is a SERIOUS ACADEMIC OFFENCE. Please ensure you appropriately acknowledge the source of your ideas and attribute quotations as appropriate, as these coursework will be routinely checked for plagiarism using plagiarism software. DEADLINE: This piece must be word processed in Microsoft Word and submitted in both soft and hard copy. The deadline for submission will be in the 8th week of first block of second semester. Exact date and time will be latest before 10 AM. Please Note: late mark penalties will be applied if both hard &soft copies of your groups piece are not submitted by the deadline. The hard copy must contain a signed coursework declaration sheet. Please ensure your name is included on the hard and soft copy of your business plan. Please note: The University reserves the right to adjust coursework marks after course work has been returned to students in order to ensure that the coursework marks have an appropriate distribution.

NOTE:

See Appendix 2 for Harvard Referencing See Appendix 3 for a checklist to be used for coursework submissions.

Coursework Assessment Task 2: Assessed Presentation


GROUP PRESENTATION Required: This presentation will require each member to give a 5 minute oral presentation of their work on the B-Plan to their tutor in the Week 8 of block I in Semester II. As a brief guide the presentation should include the following issues: Identify your business plan and its associated factors and dimensions Competitors Analysis Financial Plan Marketing Plan Business Environment Various other factors mentioned in the e-book regarding business plan.

General guidance on presentation and how you will be judged are provided in Appendix 6.

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship Practicalities: In doing presentations, please remember you will only have the facilities available in the lecture room, so you will need to check what is there in the room in advance of the presentation? Your tutor will bring along whiteboard pens, but you will need to arrange for any other materials which you wish to use for your presentation (e.g. overhead transparencies, handouts). Do not assume there will be computer projection facilities, and even if there is, you must bring overhead transparencies as a back-up. NOTE: See Appendix for Guidance on Presentation.

Assessment Task 3
Mid Term Test 1 There will be a mid-term test in the week 5/6 from the course coverage of the earlier weeks. The test will comprise of two sections. Section I will be of 20% weightage comprising of Business Problems. The students will be allowed to use Ms-Excel 2010and access the book if they so desire.

Weekly coverage:
WEEK
SEMESTER 1 Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Ms-Excel, Spreadsheets and Decision Making Business Data Analysis using Ms-Excel and Introduction to Managerial Decision Making Linear Programming, Linear Programming Models, Graphical and Computer Methods Linear Programming Modeling Applications with Computer Analyses in Excel Linear Programming Sensitivity Analysis Transportation, Assignment and Network Models Decision Analysis Simulation Modeling

COVERAGE

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship

WEEK 1: Ms-Excel, Spreadsheets, and Decision Making


Learning Outcomes Having attended these lectures, students should gain An overview of Ms-Excel and various functions of MS-Excel to be used in the process of decision making How to use the various functions of Ms-Excel in Decision Making To understand the significance of Ms-Excel in Modelling and Business Decision Making Defining Decision Models and describe the importance of such models Understand two types of decision models: deterministic and probabilistic models Understand the steps involved in developing decision models Discuss possible problems in developing decision models

Lecture Outline Introduction to the course, delivery and assessment. Introduction to Group Project and related modalities. What do you mean by Management Decision Making? Why study Management Decision Making? What constitutes the process of Management Decision Making? Stakeholders in a business decision making process Spreadsheets and use of spreadsheets in the process of Management Decision Making

SEMINAR FOR WEEK 01 Class Discussion: How does spreadsheet help in Management Decision Making? How does the various functions in Ms-Excel help in the process of Management Decision Making? What is decision modelling?

READINGS FOR WEEK 01 Tennent, John & Friend, Graham (2010), Guide to Business Modelling, First South Asian Edition 2010, Chapter 1& 2

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship Mayes, Timothy R., & Shank Todd M.(2012), Financial Analysis with Microsoft Excel, South Western, Cengage Learning, Chapter 1& 2 Whigham, David (2011), Business Data Analysis using Excel, Indian Edition, Oxford University Press, Chapter 1& 2 Winston, Wayne L. (2010), Excel-Data Analysis and Business Modeling, Microsoft Press, Chapter 1& 2

WEEK 2: Business Modelling and Business Plans Decisions Using Ms-Excel - Business Data Analysis Using Excel
Learning Outcome

Having attended this lecture, students should be able to understand

How Ms-Excel functions help in the various Decision Making processes What are the various types of functions in Ms-Excel How the Ms-Excel Functions are applied in real world problems What are the applications and uses of Ms-Excel Functions in Business Modeling What are the various tools and techniques in MS-Excel which help us in Management Decision Making and Business Modeling

What are the various key factors and variables which must be reflected in business plan How Ms-Excel can help us in preparing projected financial statements so as to produce future projections of finance

Lecture Outline Ms-Excel functions and Business Modeling Financial Projections using Ms-Excel Financial Decision Making using Ms-Excel Business Modeling and Business Planning

Seminar for Week 2 What is Business Modeling? What are the various key factors and aspects to be incorporated in a business plan?

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship READINGS FOR WEEK 2 Business Modelling by The Economist : PP 1-282 Balakrishnan, Render, Stair (2012) Managerial Decision Modeling with Spreadsheets, 2 nd Edition, Pearson : Chapter 1

WEEK 3: Linear Programming, Linear Programming Models: Graphical and Computer Methods
Learning Outcome Having attended this lecture, students should have an understanding: Introduction to Linear Programming Formulation of Linear Programming Application of Linear Programming Linear Programming and Ms-Excel Decision Making with Linear Programming Profit Maximization, Cost Minimization and Resource Optimization Understand the basic assumptions and properties of Linear Programming (LP) Use graphical procedures to solve LP Problems with only two variables to understand how LP Problems are solved Understand special situations such as redundancy, infeasibility, unboundedness, and an alternate optimal solution in LP problems Understand how to set up LP Problems on a spreadsheet and solve them using Excels Solver. Lecture Outline Objectives of LPP Formulation and graphical solution of LPP Solution of LPP using Ms-Excel Calculation of feasible and optimal solution Graphical solution of a linear programming problem with two variables

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship A minimization Linear Programming Problem Special Situations in solving Linear Programming Problems Setting up and solving Linear Programming Problems using Excels Solver

Seminar For Week 3

Discuss LPP as a strategic tool for profit maximization, cost minimization and resource optimization.

Reading For Week 3 Balakrishnan, Render, Stair (2012) Managerial Decision Modeling with Spreadsheets, 2nd Edition, Pearson : Chapter 2

WEEK 4: Linear Programming Modeling Applications with Computer Analysis in Excel


Learning Outcome Having attended this lecture, students should be able to Model a wide variety of linear programming (LP) problems. Understand major business application areas for LP problems, including manufacturing, marketing, finance, employee staffing, transportation, blending, and multi-period planning. Gain experience in setting up and solving LP problems using Excels Solver.

Lecture Outline Introduction Manufacturing Applications Marketing Applications Finance Applications Employee Staffing Applications Transportation Applications

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship Blending Applications Multiperiod Applications

Seminar For Week 4 Classroom Exercise o Discussion based on Classroom activity (based on excel examples and problems mentioned in the relevant chapter of the text book )

Reading For Week 4 Balakrishnan, Render, Stair (2012) Managerial Decision Modeling with Spreadsheets, 2 nd Edition, Pearson : Chapter 3

WEEK 5: Linear Programming and Sensitivity Analysis


Learning Outcome Having attended this lecture, students should be able to: Understand, using graphs, the impact of changes in objective function coefficients, righthand-side values, and constraint coefficients on the optimal solution of a linear programming problem. Generate answer and sensitivity reports using Excels solver. Interpret all parameters of these reports for maximization and minimization problems. Analyze the impact of simultaneous changes in input data values using the 100% rule. Analyze the impact of the addition of a new variable using the pricing-out strategy

Lecture Outline Introduction Sensitivity Analysis using Graphs Sensitivity Analysis Using Solver Reports Sensitivity Analysis for a Larger Maximization Example Analyzing Simultaneous Changes by Using the 100% Rule Pricing Out new Variables

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship Sensitivity Analysis for a Minimization Example

Seminar For Week 5 Classroom Exercise o Discussion based on Classroom activity (based on excel examples and problems mentioned in the relevant chapter of the text book ) Discussion Question: o How do we use sensitivity analysis with Ms-excel for Maximization and minimization cases? Reading For Week 5 Balakrishnan, Render, Stair (2012) Managerial Decision Modeling with Spreadsheets, 2 nd Edition, Pearson : Chapter 4

WEEK 6: Transportation, Assignment and Network Models


Learning Outcome Having attended these lectures, students should understand: Structure special LP network flow models. Set up and solve transportation models, using Excels Solver. Set up and solve transportation models, using Excels Solver. Set-up and solve transportation models with Max-Min and Min-Max objectives. Extend the basic transportation model to include trans-shipment points. Set up and solve maximal-flow network model to include trans-shipment points. Set up and solve maximal-flow network models, using Excels Solver.

Lecture Outline Introduction Characteristics of Network Models Transportation Model

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship Transportation Models with Max-Min and Min-Max objectives Transshipment Model Assignment Model Maximal-Flow Model

Classroom Exercise Discussion based on Classroom activity (based on excel examples and problems mentioned in the relevant chapter of the text book ) Discussion Question: Questions pertaining to Transportation, Assignment and Network Models in Chapter 5 of the text book. Reading For Week 6 Balakrishnan, Render, Stair (2012) Managerial Decision Modeling with Spreadsheets, 2nd Edition, Pearson : Chapter 5

WEEK 7: Decision Analysis


Learning Outcome Having attended these lectures, students will be able to: List the steps of the decision-making process and describe the different types of decision making environments. Make decision making under uncertainty and under risk. Use Excel to set up and solve problems involving decision tables. Develop accurate and useful decision trees. Use Treeplan to set up and analyse decision tree problems with Excel

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship Lecture Outline Introduction The Five Steps in Decision Analysis Types of Decision-Making Environments Decision Making under Uncertainty Decision Making under Risk Decision Trees Using TreePlan to solve Decision Tree Problems with Excel

Classroom Exercise o Discussion based on Classroom activity (based on excel examples and problems mentioned in the relevant chapter of the text book ) Discussion Question: o Questions pertaining to Decision Analysis in Chapter 8 of the text book

Reading For Week 5 Balakrishnan, Render, Stair (2012) Managerial Decision Modeling with Spreadsheets, 2 nd Edition, Pearson : Chapter 8

WEEK 8: Simulation Modeling


Learning Outcome Having attended these lectures, the student should be able to understand: Understand the basic steps of conducting a simulation. Explain the advantages and disadvantages of simulation. Tackle a wide variety of problems by using simulation. Set up and solve simulation models by using Excels standard functions. Use the Crystal Ball add-in for Excel to set up and solve simulation models. Explain the types of simulation models.

Lecture Outline
Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship Introduction Monte Carlo Simulation Role of Computers in Simulation Simulation Model to compute Expected Profit Simulation Model of an Inventory Problem Simulation Model of a Queuing Problem Simulation Model of a Revenue Management Problem

Seminar For Week 8 Class Discussion: What is the role of Simulation modelling in organizational decision making process? Reading For Week 8 Balakrishnan, Render, Stair (2012) Managerial Decision Modeling with Spreadsheets, 2 nd Edition, Pearson : Chapter 10

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship

APPENDIX 1

Group Contribution Sheet


Group Based Task Name 1. 2. 3. 4. 5. 6. 7. 8. 9. Section responsible for: Actual contribution towards the group Signature task

ANY OTHER COMMENT:

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship

APPENDIX 2 Some specific guidelines about the Harvard system of referencing:


a) When making the reference list at the end of your essay/report, use left alignment and make the author's name stand out by using indentation of the text. b) The parts of other work e.g. chapters of books, articles in newspapers, reports in journals, parts of a websites: give in plain font. c) Complete works e.g. books, government reports, newspapers, journals, stand-alone articles: give in italics d) If you can't find an individual author, use the name of the organization instead. e) For printed work, give the place of publication if possible, then the publisher. Note the punctuation in the reference. f) For internet sources, as well as the author (or organisation if there is no clear author) and year, give the date you accessed it and the full URL along with the details of the material e.g. the title of the article, the name of the newspaper etc. g) For a news report, give the exact date, not only the year. Check that the link you give actually works in that it would take your reader directly to the exact source if she wanted to read it for themselves. Giving a broad website such as 'www.bbc.co.uk' is not enough. h) If the same author has more than one publication in the same year, use a,b,cetc. i) Always make sure that the correct edition is referred to as pagination often differs.

Some examples follow:


(For a book source) Horngren, C.T. (1972) Cost Accounting, A Managerial Emphasis, 3rd Edition, Englewood Cliffs, N.J.: Prel]tice-Hall. (For a press release source) Baker, S. (2003) "Environment Agency Press Release: Repeat Offenders Take the Shine Off Pollution Reductions," Environment Agency, 30/7/2003. (For a journal article) Bloggs, J. (2006) "Accounting is a Wonderful Subject," Journal of Accounting Education, Vol. 20, No.4, pp. 653-685. (For a report) Severn Trent Pic (2003a) Water and Waste.Birmingham: Severn Trent Pic.

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship

APPENDIX 3 SELF-HELP CHECKLIST


Format Has the coursework declaration sheet disclaimer been signed? Does the cover sheet have all necessary information included? Are the font and spacing clear and legible? Does it follow the specifications for word count/number of pages?

Structure and Argumentation Is there a helpful introduction? Is effective reasoning used? (Do you supporting points with explanation, illustration, justification, evidence?) Are headings / subheadings helpful? Are the points in logical order? Does the paragraphing help the reader understand the argument and flow of ideas? Is there one topic per paragraph? Are there clear breaks between paragraphs to show where they start and end? Is it clear how the ideas link together? (both within and between paragraphs)

Style, appropriateness and accuracy of language Is a formal style used, including full paragraphs (not notes or bullet points)? Is it clear and easy to follow (not too cryptic or overcomplicated)? Is English grammar used accurately e.g. tenses, word endings etc. Is the punctuation clear and accurate e.g. full stops. commas, semi-colons? Is the spelling accurate?

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship

Referencing conventions: Within the text Are citations given in the text for all the source material used? Are direct quotations given in quotation marks with surname, date and page number where available? Are paraphrase summary and quotation used appropriately (eg. not too much quotation)? Are sources which the student has read for her/himself acknowledged clearly with surname and date? Are indirect sources - ones the students has not read him/herself but has seen mentioned by other writers acknowledged properly, giving the original source? E.g.(Kim and Um 2003 cited in Brown 2004) Are websites cited in the text concisely (i.e. author/organisation and date only)? Are all the sources acknowledged within the text also included in the reference list at the end?

In the reference list at the end Are the references in alphabetical order of surname, with the surname first followed by the initial(s}? For books, are all the details included? (author, date, title, place of publication and publisher.) For journal articles, are all the details included? (author, date, journal title, volume/issue number, page range.) Are journal titles and book titles given in italics? For electronic sources are all the details included? (author/organisation, date, full URL and date accessed)

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship

Useful websites for academic writing and relevant issues http://www.uefap.co.uk/ http://owl.english.purdue.edu/ (US English) http://www.bradford.ac.uk/ acad/management/external/els/informationsheets. php (for management students - excellent overall advice, especially on referencing) http://www.brad.ac.uk/acad/management/external/els/pdf/refandbib.pdf) http://unilearning.uow.edu.au/main.html http://www.writing.utoronto.ca/advice/generaI/generaI-advice http://www.lancs.ac.uk/depts/celt/sldcl?openpage

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship

APPENDIX 4: GUIDANCE ON B-PLAN WRITING


There will be some study skills guidance provided about report writing. However, some brief guidance is provided here for your information. As a brief guide, your group written report should include: 1. An executive summary, which summarizes your main findings during the project. (This should be no more than 250 words long and is included in the word count). 2. Table of contents 3. Clearly titled sections/sub-sections 4. References: You should ensure your references are correctly attributed in a reference list, and any quotes from texts must be correctly attributed to their source (for example, Blogs (2002, p.23) says "...."). Please take care to ensure your material is referenced and remember to ensure that material is appropriately acknowledged in your work submitted. Please use the Harvard style of referencing see the guide for referencing for further guidance (this is available from the Department of Accounting and Finance site). 5. Tables, Charts and diagrams: these should be correctly titled and labeled. Also state the source of your data. 6. Any supplementary material may be included within an appendix. (Note: the appendix is not usually included within the word count, but it should not be seen as a dumping ground for material exceeding the word limit.).

A final thought... Consider the reader of your report.... They will only have limited time to read your B-Plan report, and so it is important that your argument is clear and focused; there should be a concise and coherent argument throughout. A common mistake in B-Plan reports is to report on everything. This is not necessary! It is important to focus on the key focus areas. Additional material should be placed in an appendix, but be selective. However, if you include material in an appendix, it is important to refer this in the main text of your B-Plan report. The examiner would judge the report on the following grounds: 1. Structure (Relevant to Topic & Topic Covered in Depth) 2. Argument (Logically Developed Argument) 3. Originality (Creative Thought) 4. Style (Fluent & Succinct Writing) 5. Presentation (Legible & Well Set Out) 6. Sources (Adequate Acknowledgement) 7. Mechanics (Spelling & Grammar) Please note: The indications are provided to help you. There is not necessarily a straightforward relationship between them and your final grade. Categories are not equally weighted and other factors will be taken into account.

Management Decision Science

Auro University http://www.aurouniversity.edu.in The School of Management & Entrepreneurship

APPENDIX 5: GENERAL GUIDANCE FOR PRESENTATIONS


Oral presentations should get easier the more you give. A frequent reaction after giving your first one is 'that wasn't so bad but I'd make a better job if I gave it again'. This hints that the key to a good talk is preparation. Be well prepared, practice your talk beforehand. Transforming what you did or what you have found out into a presentation involves hard work. Preparation isn't just practice. Before you draft what you will say, remember Decide what you would like the audience to learn from your presentation. Get the overall picture clear in your mind so you can decide on a logical order for the content Distil from the mass of information you have accumulated, the points that need to be made at each stage The following points refer mainly to the mechanics of the presentation itself. 1. Plan the structure of your talk, preparing themes for overheads 2. Make the content of your talk coherent. 3. Normally keep diagrams on overheads to one per overhead, making them as large as possible. Make the writing on the overheads large enough to be completely clear from the back of the room. 4. It's not essential but it's a good idea to begin the presentation with an overhead showing a clear title, the author(s) names and, either on the overhead or accompanying it, a few sentences summarizing why the audience will find the topic interesting. 5. Rehearse very well the first few sentences; stand up when you're introduced and take a deep breath, look at the audience and put up your opening slide or produce something else for them to look at while you relax and deliver your opening at a pace that's not hurried. 6. Talk to the audience, making eye contact with them, using the overhead projector as a diversion from the main attraction, namely you. This requires remembering a fair bit what you are going to say and not reading from a script all the time. 7. Talk loudly enough to be heard above the noise of the audio / visual aid. 8. Don't rush, but keep to time and use the time available to you. A few practices beforehand will let you know you've got the timing right. 9. Do finish on a positive and definite note. Don't just peter out. This is very important since your final comments remain in the minds of those assessing the talk. Conclude by reminding people of the key points or emphasizing the achievements of what you have done. The presentation will be graded on the following grounds: Well balanced with proper emphasis on relevant details. Clear visuals & easy to hear Creative thoughts All sections adequately covered Succinct presentation Knowledgeable about material

Please note: The indications are provided to help you. There is not necessarily a straightforward relationship between them and your final grade. Categories are not equally weighted and other factors will be taken into account.
Management Decision Science