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Lecture

GMS_200_Lecture_2.docx

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Department
Global Management Studies
Course
GMS 200
Professor
Vikraman Baskaran
Semester
Fall

Description
GMS 200 Lecture 2  Knowledge and knowledge workers provide a decisive competitive factor in today’s economy Knowledge worker  Intellectual capital  Knowledge and intellectual capital are irreplaceable organizational resources  The productivity of knowledge and knowledge workers depends on 1 – computer competency & 2 – information competency  Electronic commerce (B2C e-commerce, B2B e-commerce) Stages of development in e-commerce  Secure an online identity  Establish a web presence  Enable e-commerce  Provide e-commerce and customer relationship management  Utilize a service application model IT facilitates communication and information sharing, reduction in the number of middle managers, better organizational structure and excellent coordination and control  IT builds relationships with external environment  IT has changed the new workplace (e-mail, P2P –Peer-to-peer file sharing)  Data is raw facts and observation  Information is data made available for decision-making  Good information must be timely, high quality, complete, relevant, and understandable  Data – Information – decision making  Information exchanges with the external environment and within the organization  The external and internal information needs of the organization is presented in the next slide The role of information in the management process  Information system  Management information system  Decision support system  Artificial intelligence  Expert systems  Intranets and corporate portals  Extranets and enterprise portals  Electronic data interchange Advantages of IT  Planning advantages  Organizing advantages  Leading advantages  Controlling advantages The manager is the processing nerve centre Information and Decision Making  A performance deficiency is actual performance being less than desired performance  A performance opportunity is actual performance being better than desired performance 
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