Management Decision Making: Spreadsheet Modeling, Analysis, and Application

Management Decision Making is a spreadsheet-based introduction to the tools and techniques of modern managerial decision making. The author shows how to formulate models in Microsoft Excel that can be used to analyse complex problems taken from all the functional areas of management, including finance, marketing, operations, and human resources. Throughout the book, the goal is to understand how business decisions are reached, what tradeoffs are made, and how outcomes depend on the underlying data. A broad range of analytical methods is discussed, including linear programming, integer linear programming, decision analysis, decision trees, queues, and Monte Carlo simulation. Included is a CD-ROM that contains the widely-used decision analysis software applications TreePlan and Crystal Ball. The book is aimed at students of business, economics and engineering, including those taking MBA courses. It will also be of great interest to business managers who want to learn more about practical spreadsheet modeling.