Strategic Decision-Making Through Incremental Analysis

Navigating Complexities to Make Sound and Strategic Decisions

What you'll learn

Understand the concept of incremental analysis and its relevance in decision-making processes.

Develop skills to identify and analyze incremental revenues, costs, and benefits in diverse scenarios.

Know incremental analysis techniques to evaluate various decision-making models and techniques to enhance your ability to make informed choices.

Understand the fundamentals of decision-making processes and their significance in personal and professional contexts.

Develop critical thinking skills to evaluate options, assess risks, and anticipate potential outcomes.

Requirements

Some business knowledge

Description

This course offers a structured approach, progressively building learners' knowledge and skills in applying incremental analysis for strategic decision-making. Each module covers specific aspects of incremental analysis, from foundational principles to advanced applications, encouraging practical application through case studies and exercises, culminating in the integration of learned concepts into various decision-making contexts.This course begins by elucidating the foundational principles behind decision-making, emphasizing its role in both personal and professional spheres. Participants will uncover the intricate workings of the human mind and the cognitive biases that often influence decisions.Through an engaging curriculum, learners will explore various decision-making models and frameworks, enabling them to approach choices systematically. From rational decision-making models to intuitive approaches, this course offers a comprehensive toolkit for making well-informed decisions.Furthermore, the course addresses the psychological aspects impacting decisions, including emotional biases and heuristics, fostering self-awareness to mitigate their effects. Participants will also discover techniques to manage uncertainty, risk, and complexity, thereby bolstering their confidence in decision-making.Practical applications are integral to this course. Through case studies, simulations, and real-life scenarios, participants will apply learned concepts, reinforcing their ability to make sound and strategic decisions in diverse contexts.By the course's conclusion, participants will emerge equipped with the knowledge, skills, and frameworks necessary to navigate decision-making complexities with confidence, precision, and clarity. Whether facing personal dilemmas or organizational challenges, learners will possess the tools to make impactful and informed choices.

Overview

Section 1: Introduction to management decision making

Lecture 1 Management Decision making

Lecture 2 Incremental Analysis

Section 2: Introduction to Incremental Analysis

Lecture 3 Understanding Incremental Analysis: Concepts and Fundamentals

Lecture 4 Significance of Incremental Thinking in Decision-Making

Lecture 5 Principles of Incremental Analysis in Assessing Alternatives

Section 3: Tools and Techniques of Incremental Analysis

Lecture 6 Cost-Benefit Analysis: Incremental Approach

Lecture 7 Identifying Incremental Costs, Revenues, and Benefits

Lecture 8 Relevant Cash Flows

Section 4: Demonstration Problems in Incremental analysis

Lecture 9 Scenario One

Lecture 10 Scenario two

Lecture 11 Special Order and Make or Buy

Lecture 12 Retain or Replace Equipment

Lecture 13 Special Order

Lecture 14 Incremental Analysis

Section 5: Conclusion

Lecture 15 Conclusion

Business students and business managers