Professional Decision Modeling: Practitioner as Professor

Regan, Peter J.

doi:10.1287/inte.1050.0186

Cited by 8 publications

(4 citation statements)

References 15 publications

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“…A few in our team, particularly tenure-track professors, have doctorates in information systems management and are active in research involving data analysis of IT industry behavior and the economic benefits of technology. As in Regan's (2006) experience, we find it very important to employ professors who have worked or directly interacted with industry and prefer those with strong business consulting exposure. The two authors of this paper, who both majored in operations management, also have extensive industry experience in engineering, supply chain management, and information systems project development and management.…”

Section: Course Deliverymentioning

confidence: 99%

Teaching Business Modeling Using Spreadsheets

Leong

Cheong

2008

INFORMS Transactions on Education

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B efore spreadsheets, modeling of business concerns required some competency in mathematics (algebra, calculus, statistics, and probability) and in computer programming, skills that are rather intimidating for the average business executive and management school student. However, the spreadsheet and the personal computer revolution challenged that paradigm. With its simple intuitive interface, direct interactivity, and universal presence, the humble spreadsheet has made business modeling much easier and has been considered by many analysts as the tool of choice for exploring business opportunities. Many university professors have already adopted spreadsheets as their computing platform in support of teaching business mathematics, statistics, and management science courses. Though some business modeling skills can be learned when spreadsheets are used in the courses, they are often secondary to the task of delivering the main subject content. Working out business challenges in the real world, however, requires good spreadsheet modeling skills, in particular that of using the spreadsheet for rapid understanding of ill-defined and unstructured situations. It has been argued that basic modeling skills should be taught prior to management science methods. We agree and further assert here that modeling skills should be taught in a separate full course on "exploratory" modeling of general business challenges rather than "computational" modeling of standard problems relevant to the application of management science methods. We have designed and successfully delivered to thousands of undergraduates over the past four years a course in business modeling with spreadsheets. In this paper, we will discuss the novelty of our course content and approach and will elaborate on the key pedagogical challenges.

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Section: Course Deliverymentioning

confidence: 99%

Teaching Business Modeling Using Spreadsheets

Leong

Cheong

2008

INFORMS Transactions on Education

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“…Somewhere in the process of creating the spreadsheet, users realize something they didn't know before, recognize an insight that previously eluded them, articulate key issues to colleagues, reconceptualize their problem or even figure out how to solve it." Regan (2005Regan ( ,2006discusses a decision modeling elective at a top-ranked business school where "Spreadsheet modeling of a business situation is central to the course. I want to expand the students' spreadsheet modeling tool kit and develop their ability to build models in a decision context that changes over time."…”

Section: Spreadsheets Are Advantageous For Modeling and Model Represementioning

confidence: 99%

Integrating Spreadsheet Engineering in a Management Science Course: A Hierarchical Approach

Grossman

2006

INFORMS Transactions on Education

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Business students who rely on spreadsheets can use management science only to the extent that they can build a spreadsheet model of an unstructured business situation. Spreadsheets are the primary vehicle for analytical work in business, are advantageous for modeling and model representation, and are used by management science practitioners as well as end-user modelers. There is a common misperception that spreadsheets are somehow "easy" to use. However, the spreadsheet is a powerful rapid development computer programming language that requires software engineering for serious work. People struggle to efficiently build effective, transferable spreadsheet models. Students need certain spreadsheet engineering principles that they do not know, but value highly when they learn them. Spreadsheet engineering can be taught using a hierarchical "Skills, Capabilities and Practices Model." Low-level "Skills" need to be evaluated and fixed early in a spreadsheetoriented management science course. High-level "Capabilities" and "Practices" should be integrated throughout the course. Embracing spreadsheet engineering provides a magnificent opportunity for management science instructors to increase relevance and student satisfaction while increasing the likelihood of management science application by our graduates.

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“…Crystal Ball and @RISK require moderate skills to create the additional features of a discounted inventory system characterized by uncertain demand and stock lead time [12,13,14,15,16].…”

Section: Introductionmentioning

confidence: 99%

Teaching Inventory Management Simulation Using E-Learning Software: Blackboard, Elluminate Live!, and Jing

Oberstone¹

2008

Int. J. Adv. Corp. Learn.

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Abstract-Introducingthe nuances of inventory management systems to undergraduate business students can be a daunting task. Beyond the traditional focus of the selection of order quantity and reorder point lie more murky considerations such as the impact that stockout cost and supplier selection have on these key parameters, including profit. The purpose of this paper is to illustrate how students can cultivate insights of business simulation settings through easy-to-run, downloadable Excel spreadsheet templates from within their Blackboard-driven course website beyond merely grinding out "answers." This paper shows not only how the simulation templates are employed but also how students can use them to self-correct problems they might encounter during the learning process, how to examine more subtle issues, and how the instructor can use online software to guide students in real time, regardless of the distance that may separate them. Further, while these interactions are taking place, a video software file can be made to memorialize the online learning and can be easily uploaded to the student for their later use should they wish to practice the process. A hypothetical case example of AT&T's management of the Apple iPhone inventory is used to illustrate the process.

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Professional Decision Modeling: Practitioner as Professor

Cited by 8 publications

References 15 publications

Teaching Business Modeling Using Spreadsheets

Teaching Business Modeling Using Spreadsheets

Integrating Spreadsheet Engineering in a Management Science Course: A Hierarchical Approach

Teaching Inventory Management Simulation Using E-Learning Software: Blackboard, Elluminate Live!, and Jing

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