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
Multi-Criteria Decision Making Model including 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 Organizations:
All organizations including service sector, manufacturing, PSUs etc.
Target Participants:
Managers at all levels involved in Decision Making and having knowledge of basic mathematics and MS-Excel will be an added advantage.
Programme Director:
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 over two decades of experience in academics and industry. He started his teaching career from University of Delhi and he has also worked as an Actuarial Consultant with a UK-based MNC. 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 to his credit, a number of research papers in national and international journals of repute. Prof. Arora is also a reviewer of many International Journals.
He has also conducted various Management Development Programmes (MDPs) in Decision Making Techniques for Managers and in Project Management. He has presented papers in various National and International Conferences. Prof. Arora has to his credit five co-edited books namely Malaysia - Challenges and Perspectives; Reviving Italy: Reflections; Vietnam The Emerging Asian Star from a War-Stricken Nation and Reinventing Indo-Russia Relations, published by Bloomsbury Publishing India Private Limited and CSR & Sustainable Development: Strategies, Practices & Business Models published by Routledge -Taylor & Francis Group, U.K. He has also authored an Indian adaptation book titled Business Statistics - BSTAT: A South-Asian Perspective, published by CENGAGE Learning India Private Limited. Recently he has co-authored a book on ‘Quantitative Techniques in Management’, 6th Edition published by McGraw Hill.
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/+ 91 9166085159/+91 9810875278/+91-11-46485562 /41242477
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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.
