MGC1010 Lecture Notes - Lecture 3: Intellectual Capital, Computer Hardware, Major Force
7 Jun 2018
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Department
Course
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Topic 3: Information and Decision Making
How is information technology changing the workplace?
• Changes the way we do things
• Nowadays, our knowledge transforms into services
Knowledge worker: A worker who transforms knowledge or information into a product or service
Intellectual capital: the collective brain power or shared knowledge of a workplace
• A major force of competitive advantage
Information technology: the combination of computer hardware, software, networks and databases
supporting information use
• Build intellectual capital in an organisation
Data: Any quantifiable measured values, observations or statistical counts that, when collated,
become useful for decision-making
Information systems: use information technology to collect, organise and distribute data for use in
decision making.
5 characteristics of useful information
1. Timeliness
2. Quality
3. Completeness
4. Relevance
5. Understandability: Information presented accurately
Information needs of an organisation
• Intelligence information is gathered from the external environment
• Public information is disseminated to the external environment
Top Managers
• Formulate strategy policies, long-term plans and objectives
• Make strategic decisions
Middle Managers
• Formulate operational plans and objectives to implement strategy
• Make operational decisions
Document Summary
How is information technology changing the workplace: changes the way we do things, nowadays, our knowledge transforms into services. Knowledge worker: a worker who transforms knowledge or information into a product or service. Intellectual capital: the collective brain power or shared knowledge of a workplace: a major force of competitive advantage. Information technology: the combination of computer hardware, software, networks and databases supporting information use: build intellectual capital in an organisation. Data: any quantifiable measured values, observations or statistical counts that, when collated, become useful for decision-making. Information systems: use information technology to collect, organise and distribute data for use in decision making. 5 characteristics of useful information: timeliness, quality, completeness, relevance, understandability: information presented accurately. Intelligence information is gathered from the external environment: public information is disseminated to the external environment. Top managers: formulate strategy policies, long-term plans and objectives, make strategic decisions. Middle managers: formulate operational plans and objectives to implement strategy, make operational decisions.
