The University of Southampton
Courses

# MANG1007 Management Analysis

## Module Overview

MANG1007 Management Analysis seeks to develop and enhance the basic mathematics and statistics knowledge and skills that are relevant to decision making in organisations. MANG1007 Management Analysis is a comprehensive module. It covers a wide range of fundamental quantitative techniques as applied in all areas business and management including financial mathematics, linear programming, statistical data and how to summarise it, probability and decision trees, basic differential calculus and its applications in decision making. MANG1007 Management Analysis also develops practical skills linked to quantitative data analysis via computer labs in spreadsheet modelling (MS Excel) and introduction to a statistical computer package for analysing and displaying data (SPSS).

### Aims and Objectives

#### Module Aims

- To introduce students to the key issues associated with quantitative models and associated processes that support problem solving and decision making in management - To develop the quantitative skills and knowledge needed to underpin such problem solving in management - To give familiarity and confidence both with mathematical notation and spreadsheet implementations of these quantitative skills.

#### Learning Outcomes

##### Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• Understand the basics of Algebra and how it is applied in business
• Understand the basics of Financial Mathematics
• Understand the basic probability concepts
• Understand the basic optimisation techniques
• Understand the basic decision-modelling techniques
• Have knowledge and critical understanding of data collection and data presentation techniques
##### Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• Solve basic mathematics and statistics problems in a business/management context
• Apply mathematics and statistics knowledge to model common business/management problems
##### Transferable and Generic Skills

Having successfully completed this module you will be able to:

• Critical analysis and decision making skills whether working alone or with a group, quantitative analysis including using spreadsheet tools
##### Subject Specific Practical Skills

Having successfully completed this module you will be able to:

• Build quantitative models, which aid the solution of management problems and decision making
• Have familiarity and confidence in the use of mathematical notation and basic mathematical skills used in managerial problem solving

### Syllabus

- Interest rates and value of cash flow - Dynamics of demand, returns and profits - Linear programming for product mix and cost-benefit problems - Decision making under uncertainty - Gambling, lotteries and investment portfolio management - Summarising and communicating data - Simple linear regression - Stock control as an example of optimisation

### Learning and Teaching

#### Teaching and learning methods

Teaching methods include: - Lectures - Tutor-led workshops - Classes - Computer laboratory sessions. Learning activities include: - Handouts and other teaching aids - Facilitating learning through group discussions and working in groups on projects related to the material of the course - Individual learning through using course material on new problem solving exercises.

TypeHours
Practical classes and workshops2
Preparation for scheduled sessions25
Lecture24
Follow-up work15
Tutorial9
Revision26
Total study time150

Waters, D. (2001). Quantitative Methods for Business.

Louise Swift and Sally Piff (2010). Quantitative Methods for Business, Management and Finance.

Morris C. (2000). Quantitative Approaches in Business Studies.

Wisniewski, M. (2002). Quantitative Methods for Decision-Makers.

### Assessment

#### Summative

MethodPercentage contribution
Assessment  (2 hours) 80%
Online test 20%

#### Repeat

MethodPercentage contribution
Assessment  (2 hours) 100%

#### Referral

MethodPercentage contribution
Assessment  (2 hours) 100%

#### Repeat Information

Repeat type: Internal & External

### Costs

#### Costs associated with this module

Students are responsible for meeting the cost of essential textbooks, and of producing such essays, assignments, laboratory reports and dissertations as are required to fulfil the academic requirements for each programme of study.

In addition to this, students registered for this module typically also have to pay for:

##### Textbooks

Recommended texts for this module may be available in limited supply in the University Library and students may wish to purchase the core/recommended text as appropriate.

Please also ensure you read the section on additional costs in the University’s Fees, Charges and Expenses Regulations in the University Calendar available at www.calendar.soton.ac.uk.