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Tuesday, May 02, 2006

ITS "DECISION MAKING"

Its not "Marketing"..... It is "Marketing Management".
Its not "Statistics".....It is "Statistical Method for Management Decisions".
Its not "Economics".... It is "Managerial Economics".
Its not "Financial Accounting"... It is "Financial Accounting in Decision Making"

Yes, these are the names of the courses which we are supposed to clear in Term1. I was wondering what the logic could be in complicating the names of these courses.....It could have been short and sweet.
But as I attended the lectures, I realize how important a role "decision making" plays in the career of a manager. Now, to get a management degree, it is not enough to learn the formula and theories.....It is just not supposed to work if we restrict ourself only to learning without developing the skills to use the learning for taking real life decisions (not my statement, it was unanimously agreed by all the esteemed professors of this term)

I realize that I have never read statistics as it is taught here. The real value lies in applying the concept and not solving a mathematical problem. And this is what makes life so tough in ISB..... and perhaps easier when we step out to face the real world..... And who is responsible for all this...... are yaar... Its "Decision Making".

2 comments:

Anonymous said...

what book you are using for

Statistical methods for Management Decisions-SMMD

please give details

SABYASACHI said...

Dear Anonymous... I will be very happy if you correspond with your real name....
As for statistics.... we read the case study books which are written by our proffs (the same set of books which are followed at Wharton)