BUSM 0029 Decision Making for Business (WSTC Prep)

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Credit Points 10

Legacy Code 700322

Coordinator Abdullah Al Aabed Opens in new window

Description The world of business is a complex one, where decisions can have a major impact on a firm's success or failure. So how do you make a good business decision? In this unit students will explore the value of numerical data as a tool to help businesspeople make informed decisions using sound evidence. We start with the basics of quantitative data - statistics - as a way of calculating the probable outcomes of particular decisions. We then explore how another crucial set of numbers for a firm - the financials - can also empower businesspeople to make smart decisions.

School Western Sydney The College

Discipline Business and Management, Not Elsewhere Classified.

Student Contribution Band HECS Band 4 10cp

Check your HECS Band contribution amount via the Fees page.

Level Undergraduate Level 0 Preparatory subject

Restrictions Students must be enrolled at Western Sydney, The College.

Learning Outcomes

On successful completion of this subject, students should be able to:

Collect, organise and display quantitative data.
Use basic statistics to justify a decision.
Use basic accounting information from financial statements to justify a decision.
Use spreadsheet software to analyse and manipulate data to help make a decision.

Subject Content

- Basic business mathematics
- Methods of collecting, organising and displaying data
- Descriptive statistics: measures of central tendency and variability
- Probability theory and its applications for business
- Recording and reporting economic activity for a firm
- Preparation of the statements of profit or loss and financial position
- Financial statements in decision-making
- Basic business mathematics
- Methods of collecting, organising and displaying data
- Descriptive statistics: measures of central tendency and variability
- Probability theory and its applications for business
- Recording and reporting economic activity for a firm
- Preparation of the statements of profit or loss and financial position
- Financial statements in decision-making

Assessment

The following table summarises the standard assessment tasks for this subject. Please note this is a guide only. Assessment tasks are regularly updated, where there is a difference your Learning Guide takes precedence.