The Programs

Title: Advanced Decision Making in the Hospitality Industry

Ithaca, New York, U.S.A. (July 3 - 5, 2008) - Course Cost US$1,795 Apply Online*

Course Focus:

Making good decisions is at the core of good management. Making good decisions, however, can be challenging, especially when the outcomes are uncertain. Uncertainty can quickly overwhelm a manager’s capability of weighing all the relevant factors. In such cases, good managers resort to decision aids. This course focuses on advanced decision making—the thought processes, the tools, the data, and the corporate environment that are necessary for effective decision making.

This class is most appropriate for managers whose decisions have broad implications for the performance of their firms. However, it also applies managers who wish to improve the quality of their decisions. The course format includes lectures, hands-on use of decision-aiding software, and in-class discussions of readings, assignments, and personal experiences. A working familiarity with computer in general and Excel in particular is an asset for this course.

Key Benefits:

Participants will develop insights into their own decision making and into the quality of decisions made in their firms. The expected outcome is better, and more profitable, decisions.

Topics Include:

• The importance of choosing the right measures of performance
• Why random outcomes (i.e., chance) matters
• Managerial discretion in decision making
• Risks and rewards
• Managing risk
• Maximizing rewards
• Software for decision making
• Using Excel for decision modeling
• How decisions go bad
• Tracking the quality of decisions
• Participants’ challenges in decision making
• Participants’ successes in decision making

Faculty

Gary M. Thompson, Ph.D., Professor: Singapore (July 24 -26, 2008)

Gary M. Thompson, Ph.D., Professor: Ithaca, New York, U.S.A., (July 3 - 5, 2008)

Level

View Course Schedules by Location

PDP Schedule for Singapore July 2008

PDP Schedule for Singapore Jan 2009

PDP Schedule for Brussels, Belgium*

PDP Schedule for Ithaca, New York*

*You will be re-directed to the School of Hotel Administration website of Cornell University