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Business Management 2321 Business Analytics
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Check My Assignment!The field of decision modeling (also known as operations research) had its roots in the 1940’s in the area of wartime logistics. Since then, those techniques as well as new methodologies that have been developed have been successfully implemented into the business world. Decisions based on operations research models have increased revenues, decreased costs, and have had a large impact on the fiscal health of business organizations. Dr. Mark has extensive experience in the formulation of operations research models in both industrial applications and research in his 38+ years following the completion of his bachelor’s degree. Professor Klinker has over 30 years of extensive experience in both industrial applications and military applications. They have both seen the area of modeling go from a very specialized field with a small number of individuals to being a necessary tool to complete in the field of business. Operations research models are not limited to the field of operations. Models have been successfully implemented in the fields of finance, tax, marketing, and logistics as well as operations. In addition, the use of operations research models is not limited to manufacturing companies as health care, government, and transportation organizations have benefited from the use of the models. According to a recent survey of many of the largest companies in the world, operations research techniques are becoming more and more important in making business decisions. Historically, companies have had separate operations research groups within their organizations to develop and implement the models. However, the recent development of computer software has opened the floodgates to operations research modeling. With the availability of user-friendly software, operations research modeling is being performed by personnel in business analyst and/or business manager roles. The overall objective of the course is to familiarize you with several major decision modeling techniques that can be used in different business situations. Since this is an introductory level course, many of the topics above will not be discussed in great detail. Several of the techniques taught in this course are in use today in major corporations on very large scales. In addition, the integration of Microsoft EXCEL (along with the “Goal Seek” and “Solver” add-ins) makes this course an important foundation for future courses at Fisher as well as various business careers.
PROCEDURESStudents taking BusMgt 2321 are either business majors or persons interested in operations. We will treat each of our class sessions as business meetings. As the meeting leaders, we are expected to post an agenda and state the expectations, or end state, for each meeting. You will find those expectations in the course schedule. As meeting attendeesyou are to be prepared for each meeting, to include reading all materials, bringing ideas and questions regarding the material, and completing all deliverables (individual practical examples) prior to the beginning of each class. We expect you to be properly attired for class – our perception of you as a serious student will depend, in some part, on your appearance. Cell phones and other distractions are not acceptable in business meetings. Turn cell phones off or place them on silent (not vibrate) and remove them from your desk. If you have a legitimate reason that any correspondence cannot be delayed during our classes (i.e. your wife is 8.99999 months pregnant and you are waiting for the “go” call), let us know before class. Personal computers are not allowed during class unless you are told to bring them for a specific subject. Our expectations parallel the professional attitude future employers will demand. The following procedures will be followed to achieve the objectives stated above: Lectures:In general, lecture topics will follow the tentative course schedule. It will be assumed that the students will read the textbook material either before (preferred) or after the lecture. We retain the right for the lectures to deviate from the book. We also retain the right to shift topics on the syllabus with a minimum of one-week’s notice. Homework:Practice is essential to learning the material covered in this course. Homework problems for the textbook have been assigned for each class and will be posted on Carmen. Homework is not collected. Homework solutions are available in the back of the course text with detailed explanations available on Carmen. Students are encouraged to ask questions about the homework problems at any time in class or in office hours with Dr. Mark, Professor Klinker, or the graduate assistants. Class Attendance:Attendance in this class is highly recommended as the pace of the class is quite fast with new material taught each day. [Student athletes – refer for the section below for student athletes]. Organize your personal affairs to allow for attendance at every class session. You are responsible for all announcements and assignments made in class by your instructor. Be warned that any major changes in the tentative course schedule will be announced in class one week prior to the change; these changes will change the content of material on the exams. If time remains in a class, we retain the right to start lecturing with new material from the next lecture’s content. Course Grading:Your course grade will consist of the following components: Component Total Course Points Individual Practical Exercises (6 @ 5 points each)30 Midterm Exam 35 Final Exam (cumulative) 35 Total 100 THE COURSE AVERAGE IS NOT CURVED OR ROUNDED IN DETERMINING THE COURSE GRADE! Final Grade Determination Average Grade Average Grade Average GradeAverage Grade Average Grade67 < – < 70 D+ 77 < – < 80C+ 87 < – < 90B+ 0 < – < 60 E 60 < – < 67 D 73 < – < 77C 83 < – < 87B 93 < – < 100A 70 < – < 73C– 80 < – < 83B– 90 < – < 93 A–
