Certificate in Business Decision Models

Certificate in Business Decision Models

Why Attend

Managers make decisions under three different conditions: certainty, risk, and uncertainty. It is part of their job description. Yet, few managers receive any formal training on decision making. This course provides participants with the essential business decision models and techniques in order to improve the quality of their decision making, taking into consideration the condition they operate under.

It also offers key advice on decision-making models and techniques that will enable you to make more informed/better decisions, manage uncertainty, improve your success rate, and become a more effective manager.

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Course Methodology

The course uses a mix of interactive techniques, such as brief presentations by the consultant, case studies, and group exercises to apply knowledge acquired throughout the course.

Course Objectives

By the end of the course, participants will be able to:

  • Explain the principles of good decision making
  • Use data to make informed and better decisions
  • Implement risk-based decision making techniques
  • Develop essential financial literacy skills
  • Use tools to implement successful decisions
Target Audience

Managers, department heads, and business professionals who are involved in decision making, planning, and developing strategies for their own departments as well as the organization.

Target Competencies
  • Decision making
  • Risk management
  • Risk assessment​
  • Evaluation
  • Budgeting
  • Analytical thinking
  • Financial decision making
Course Outline
  • The Principles of Decision Making
    • Decision-making assessment
    • The standard decision-making model
    • The decision-making spectrum
    • Townsend’s rules
    • The RAPID model
  • Using Data for Better and Informed Decisions
    • Lewin’s force field analysis of support and opposition
    • Scenario analysis and charting possible futures
    • Case study
    • Mapping stakeholders’ reactions
    • Dealing with the politics of decisions
  • Risk-Based Decision Making
    • Risk impact/probability chart
    • Characteristics of the risk/impact probability chart
    • Decision tree analysis
    • Decision tree analysis implementation steps
    • Application exercises
  • Financial Literacy for Decision Makers
    • Capital budgeting and cost of capital
    • Accounting Rate of Return (ARR)
    • Payback Period (PP)
    • Net Present Value (NPV)
    • Internal Rate of Return (IRR)
  • Implementing Your Decisions Successfully
    • Round’s Trap model
      • How to use it
    • Shewhart’s PDCA model
      • How to use it
    • Application exercise
    • Lessons learned
MPC Certifications
Meirc Professional Certificate (MPC)

MPC certified courses by Meirc Training & Consulting are designed for those willing to challenge themselves and go the extra distance. Participants who fully attend an MPC course and successfully complete the test on the last day, will receive a Meirc Professional Certificate (MPC), in addition to the one they receive for full attendance. MPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.

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