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Decision Making Techniques for Managers

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Duration: 2 days
Timings: 1000hrs-1730hrs
Dates: 26-27 ,August,2021,2021
Programme Director: Prof. Hitesh Arora
Mode: Online/Offline
Fees: (Online): Rs.8000 Plus GST @18%
(Classroom): Rs 16000 Plus GST @18%
(Residential): Rs 24000 Plus GST @18%

Programme Introduction:

Managers face decision making situations subject to various restrictions placed on them. The dynamic operating environment makes decision-making complex. Intuition and guess work, generally used by managers, are insufficient in solving complex problems.

Decision making techniques encompass a logical, systematic and scientific approach to business problem solving. They help managers take better decisions and have been credited with increasing efficiency and productivity of business firms.

Programme Objective:

This MDP offers a broad spectrum of knowledge of the mechanics of Decision Making Techniques and the types of problems to which these techniques can be applied. In particular, objectives of the MDP are to:

  • Expose the participants to a variety of business problems that can be solved successfully using Decision Making Techniques;
  • Equip the participants with the necessary skills needed for solving decision making problems using computer aided tools (Excel Spreadsheet);
  • Demonstrate various software’s for solving real world problems.

Programme Content:

  • Essentials of Decision Making Techniques (Optimization)
  • Assignment Model (Travelling Salesmen Problem)
  • Transportation Model (Routing Problem)
  • Markov Chains (Brand Switching and Market Share Problem)
  • Zero Sum Game Strategies
  • Decision Tree Analysis
  • Simulation (Demand Prediction and Inventory Management)

Programme Methodology:

The programme covers the contents in simple terms with step-by-step procedures in interactive sessions.

Target Participants:

Managers at all levels involved in Decision Making and having knowledge of basic mathematics and MS-Excel will be an added advantage.

Program Faculty:

Prof. Hitesh Arora
Prof. Hitesh Arora is a Professor in the area of Quantitative Techniques and Operations Management at FORE School of Management, New Delhi. A graduate in Mathematics and a post graduate in Operational Research from University of Delhi, he has earned his Doctorate in Mathematical Programming from Department of Operational Research, University of Delhi. He has qualified National Eligibility Test (NET) conducted jointly by CSIR & UGC for Lectureship with Junior Research Fellowship (JRF) in Mathematical Sciences.

Prof. Arora has also worked as an Actuarial Consultant with a UK-based MNC. He has over two decades of experience in academics and industry. Prof. Arora has worked immensely in the area of Mathematical Programming and his present areas of research interest are measurement of Productivity, Service Quality and effect of information technology in Indian banking sector.

He has also conducted various Management Development Programmes (MDPs) in Decision Making Techniques for Managers. He has presented papers in various National and International Conferences. Prof. Arora has to his credit four co-edited books. He has also authored an Indian adaptation book titled Business Statistics - BSTAT: A South-Asian Perspective, published by CENGAGE Learning India Private Limited.

Prof. Arora has been handling Administrative Position of Dean (Academic Services) and is looking after activities like Research, Publications, Ranking, Regulations, Recruitment, Accreditation, Library, Centers of Excellence and Fellow Programmes in Management (FPM) etc.

Corporate Group Discount:

One complimentary nomination for every group of three nominations from the same organization, i.e., 3+1 participants for the fee of 3 participants

For registration/enquiries , please mail to exed@fsm.ac.in or call at 9166085159 (Mukesh) or 9810875278 (Puneet)

Executive Education/MDPs

FORE School of Management has been designing, developing and conducting innovative Executive Education (EE)/ Management Development Programmes (MDPs) for working executives in India for over three decades.