The objective of this course is to provide an insight into the skills necessary for collecting and analysis of information with a view to arriving at optimal decisions in various functional areas of management.

1. Decision making : Concepts of decision making with reference to authority and responsibility. Need for decision making, process of decision making, types of decisions - Programmed and non-programmed decisions; Individual, group and organisational decision making. Types of decisions with reference to levels in the organisation.

2. Behavioral aspects in Decision making : Broad frame work for Decisions; Open and closed models of decision making. Systems approach to decision making. Utility of decision support systems.

3. Systems Problem Analysis and Decision making.

4. Criteria for decision making under conditions of risk and uncertainty. Applications of Baye's Theorem in decision making.

5. Sequential decision making - Decision tree analysis.

6. Theory of Utility : Comparison of the concepts of monetary value and Utility, Use of utility function in decision making.

7. Game Theory : Competitive strategies. Game theory concepts, Zero and non-zero sum games, Evaluation of two person zero sum games by different methods. Application of game theory concepts to management - collective bargaining and other negotiating situations.

8. Queing models : Concept of Queue, Single Channel queuing model Poisson distributed arrival and Exponential distributed service times.

9. Simulation : Application of Simulation to management problems with emphasis on problem solving.

10. Exercises in decision skills through case analysis covering various functional areas of management.

Note : The question paper for this course will contain a case to be analysed by the students which carries a minimum of 20% marks.

Suggested Readings :
1. Rodney, D. Johnson and Bornar R. Siskin : "Quantitative techniques for Business decisions" PH, New Jersy 1977.
2. Kepner, CH and Tregoe B.B : "The Rational Manager", Tata McGraw Hill Bombay, 1970.
3. Richard I evin, David. S Rubin, Joel. P. Stinson and Everette - S Gardner; "Quantitative Approaches to Management" McGraw Hill (8th Edition) 1992.
4. Rustum, S. Davar : "Executive Decision Making" Tarapurwala.
5. Alexis and Wilson : "Organisational Decision Making".