This module will provide you with the necessary tools to use financial information and other data for making management decisions. You'll learn a range of accounting and data analysis techniques, and you be introduced to the workings of financial markets and financial instruments. Additionally, the module will use Excel spreadsheets and discuss good spreadsheet practice.
What you will study
The module aims to equip you with a range of techniques, skills and knowledge to enable you to make effective strategic decisions.
Unit 1: Decision-making techniques
This unit provides an overview of macroeconomics and financial forecasting considerations. Then, having learned some basic ideas around probability, you'll be introduced to the powerful technique of decision trees. Finally, you'll learn how to evaluate business investment cases.
Unit 2: Financial markets, institutions and instruments
In this unit, you'll discover how markets operate, who the key players are and what instruments are traded within them. This will include discussions on shares, bonds, derivatives and the foreign exchange market.
Unit 3: Introduction to strategic decision-making and statistical modelling
For the first half of this unit, you'll be introduced to game theory: a method of making decisions whilst trying to predict and take account of the reactions of others. The second half is an introduction to data analysis as you learn how to handle and interpret data.
The three units in this module will require you to study for approximately seven hours per week.
Vocational relevance
The module is designed for professionals from a wide range of contexts and backgrounds who need to actively engage with the challenges of using financial and other quantitative information for making decisions.
Entry
This is a compulsory module in our MBA and Postgraduate Diploma in Business Administration programmes. It can only be studied after successfully completing the first two modules Managing in a changing world (B870) and Creating and sustaining value (B872).
If you have a disability
Elements of this module are delivered online and include the use of real-time online discussions and an interactive whiteboard space, so time spent using a computer and the internet will be extensive. If you use assistive technology or have a hearing or speech impairment and have concerns about accessing this type of virtual environment and materials, you can visit the system provider's website for information and contact The Open University to discuss it further before registering.
Written transcripts of any audio components and Adobe Portable Document Format (PDF) versions of printed material are available. Some Adobe PDF components may not be available or fully accessible using a screen reader. Alternative formats of the study materials may be available in the future.
To find out more about what kind of support and adjustments might be available, contact us or visit our disability support pages.
Study materials
What's included
As well as the individual tuition provision, you'll have access to regular opportunities for engagement with other students, university library access, an extensive variety of specially written resources, mainly online and designed exclusively for this module, audio-visual material, published articles, case studies help you develop your management thinking abilities.
You will need
You will need access to Microsoft Excel (or alternative spreadsheet software). As an OU student, you will have free access to Microsoft Office 365 for the duration of your studies and for up to two years after. Excel is included in this package along with other applications such as Word and Outlook mail and 1TB of online storage with OneDrive.
Teaching and assessment
Support from your tutor
Your learning will take place within a tutor-facilitated group of up to 15 students. Your tutor is responsible for providing individual tuition, professional advice and support, mentoring, assessment and regular feedback on your performance throughout the module. Online tutorials and a Day School are provided to help you revise key concepts and prepare for assessments.
Contact us if you want to know more about study with The Open University before you register.
Assessment
The assessment details can be found in the facts box.