Course Outline Newcastle Business School GSBS6001 Managing Under Uncertainty Trimester 1‚ 2013 PSB Unit Weighting: 10 units Lecturer: Dickson Tang Course Coordinator Dr Tony Drew CONTENTS STAFF AND COURSE DELIVERY ARRANGEMENTS 3 1. Teaching Staff 3 2. Contact Hours and Teaching Methods 3 3. Blackboard 3 4. Student Email 3 GENERAL COURSE INFORMATION 4 5. Brief Course Description 4 6
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LESSON 1: INTRODUCTION TO RISK Chapter Objectives • Discuss different meanings of the term risk. • Describe major types of business risk and personal risk. • Explain and compare pure risk to other types of risk. • Outline the risk management process and describe major risk Expected loss UNIT I CHAPTER 1 RISK & ITS MANAGEMENT Expected loss Uncertainty (vaiability around the expected loss) One situation is riskier than other if it has greater RISK MANAGEMENTFOR GLOBAL FINANCIAL SERVICES
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Decision making is an essential leadership skill. If you can learn how to make timely‚ well-considered decisions‚ then you can lead your team to well-deserved success. If‚ however‚ you make poor decisions‚ your time as a leader will be brutally short. To determine what leads people to make bad decisions‚ it’s helpful to consider what we would need to create the ideal decision-making environment. Most theories on decision-making are based on what the rational decision maker will do when faced with
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Managing Project Uncertainty: From Variation to Chaos Uncertainty is an inevitable aspect of most projects‚ but even the most proficient managers have difficulty handling it. They use decision milestones to anticipate outcomes‚ risk management to prevent disasters and sequential iteration to make sure everyone is making the desired product‚ yet the project still ends up with an overrun schedule‚ overflowing budget and compromised specifications. Or it just dies. To find out why‚ we studied 16
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Decision-making is an essential aspect of modern management. It is a primary function of management. A manager’s major job is sound/rational decision-making. He takes hundreds of decisions consciously and subconsciously. Decision-making is the key part of manager’s activities. Decisions are important as they determine both managerial and organizational actions. A decision may be defined as "a course of action which is consciously chosen from among a set of alternatives to achieve a desired result
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non-programmed decisions Prepared by: Rehab Mohamed Abd El Rasoule PROGRAMMED AND NONPROGRAMMED DECISIONS Programmed decisions: Programmed decision are decisions that have been made so many times in the past that managers have developed rules or guideline to be applied when certain situations are expected to occur in a certain situation. Another definition: It’s made in accordance with written or unwritten policies‚ procedures‚ or rules that simplify decision making
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Isaiah Munch Elizabeth & Ken Health 2 6/26/13 Risks and Benefits of Being a High School Football Player When most people think about American football they think about big hits‚ breaking bones‚ and touchdowns; but there is a lot more to it. For most high school football teams the season starts in the beginning of June and goes until October or November. The first game is in the beginning of September. But the training starts way before that! In the first week of June the players start spring
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States and Nigeria‚ and 1970s India‚ respectively. The presence of different types of uncertainty in the characters’ lives either spur them or limit them in varied cultural contexts. The manifestation and effect of uncertainty can be observed in both platonic and romantic relationships the characters develop‚ the struggle to survive and succeed‚ and the identities of the characters. The existence of uncertainty in the familial and romantic relationships of the both books’ characters‚ results in
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ultimately leads to his dramatic demise. While Iago carried out his master plan‚ he caused Othello to become deranged. Since Iago was trying to ruin Othello’s life and take Othello’s position in the military hierarchy‚ Iago placed countless doubts and uncertainties in Othello’s mind. These include the idea that Desdemona is being unfaithful with Cassio‚ and that Cassio isn’t loyal. Othello’s most fatal flaw is his jealousy. There are many instances in the play where Othello is convinced by Iago that something
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How does the impossibility of certainty affect Shakespeare’s play Hamlet? What differentiates Hamlet from other plays from Shakespeare is that the action we expect to see‚ and particularly Hamlet’s action‚ is continually postponed while Hamlet tries to understand the truth about his father’s death and about what he should do. This play poses a certain number of questions that other plays would have taken for granted. For example‚ Hamlet does not know whether the ghost he has seen truly is the ghost
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