Synopses & Reviews
Management Decision Making is a spreadsheet-based introduction to the tools and techniques of modern managerial decision making. The author shows how to formulate models in Microsoft Excel that can be used to analyze complex problems taken from all the functional areas of management, including finance, marketing, operations, and human resources. Throughout, the goal is to understand how business decisions are reached, what tradeoffs are made, and how outcomes depend on the underlying data. A CD-ROM is included that contains the widely-used decision analysis software applications TreePlan and Crystal Ball. The book is aimed at students of business, economics and engineering, including those taking MBA courses.
Synopsis
Management Decision Making is a spreadsheet-based introduction to the tools and techniques of modern managerial decision making. Throughout, the goal is to understand how business decisions are reached, what tradeoffs are made, and how outcomes depend on the underlying data. A CD-ROM containing decision analysis software is included.
Table of Contents
1. The science of managerial decision making; Part I. Decision Making Using Deterministic Models: 2. Introduction to linear programming models; 3. Developing model formulation skills; 4. More advanced linear decision problems; 5. Output analysis I: small changes; 6. Output analysis II: large changes; 7. Integer linear programs; Part II. Decision Making Under Uncertainty: 8. Introduction to probability models; 9. Decision making under uncertainty; 10. Decision trees; 11. Management of congested service systems; 12. Monte Carlo simulation; Appendix - an Excel primer.