HNC Business Logo

line
Home - Units - News - Links - Articles - Handouts - Books - Discussion - Unit 1 - Unit 2 - Unit 3 - Unit 4 - Unit 5 - Unit 6 - Unit 7 - Unit 8

Archived Content

Unit 6: Business Decision Making

In business, good decision making requires the effective use of information. This unit gives learners the opportunity to examine a variety of sources and develop techniques for four aspects of information: data gathering, data storage, and the tools available to create useful information and present it.

pie chartComputers are used in business for much of this and thus the appreciation and use of appropriate IT software is central to the completion of this unit. Specifically, learners will use spreadsheets and other software for data analysis and the preparation of information. The use of spreadsheets for the manipulation of numbers, and understanding of how to apply the results, are seen as more important than the mathematical derivation of formulae used. They will also gain an appreciation of information systems currently used at all levels in an organisation as aids to decision making.

Summary of learning outcomes

To achieve this unit a learner must:

  1. Use a variety of sources for the collection of data, both primary and secondary
  2. Apply a range of techniques to analyse data effectively for business purposes
  3. Produce information in appropriate formats for decision making in an organisational context
  4. Use software-generated information to make decisions at operational, tactical and strategic levels in an organisation.

Suggested Reading

Quantitative Methods: A Business Perspective

Quantitative Methods for Business Decisions

Management Information Systems

Essential Business Statistics

Quantitative Methods for Business

Web Links

Project Management, critical path analysis

Levinson Productivity Systems PC — quantitative techniques outlined

National Institute of Statistics — variety of quantitative techniques

Mindtools — very useful management tools

For research or secondary data

Bank of England statistics

Biz/ed provides case studies appropriate for educational purposes

Department of Trade and Industry

Business Open Learning archive

UK government statistics

Up My Street — local information anywhere in UK

Office for National Statistics - Official Government Statistics

Eurostat
- Official EU Statistics

CIA World Factbook
- Information on all the countries of the world, including economic, geographical and political data.

OECD Statistics - Other statistical sources
- Information on economic, geographical and political data.

line

Home - Units - News - Links - Articles - Handouts - Books - Discussion - Unit 1 - Unit 2 - Unit 3 - Unit 4 - Unit 5 - Unit 6 - Unit 7 - Unit 8

All content copyright 2007 - 2013

Web Links

Project Management, critical path analysis

Levinson Productivity Systems PC — quantitative techniques outlined

National Institute of Statistics — variety of quantitative techniques

Mindtools — very useful management tools

Web links for research or secondary data

Bank of England statistics

Biz/ed provides case studies appropriate for educational purposes

Department of Trade and Industry

Business Open Learning archive

UK government statistics

Up My Street — local information anywhere in UK

Office for National Statistics - Official Government Statistics

Eurostat - Official EU Statistics

CIA World Factbook
- Information on all the countries of the world, including economic, geographical and political data.

OECD Statistics - Other statistical sources
- Information on economic, geographical and political data.

All content copyright © 2007 - 2013