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Lecture 2

GMS200 lecture 2 sept 14.docx

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Global Management Studies
GMS 200
Sui Sui

Chapter 13 lecture 2 Information and Decision Making Chapter 13 study questions.  How is information technology changing the workplace?  What is the role of information in the management process?  How do managers use information to make decisions?  What are the steps in the decision-making process  What are the current issues in managerial decision making? Information and Knowledge  Knowledge worker - Do you want to become a knowledge worker and why ? - Intellectual capital - shared knowledge of a workforce that can be used to create wealth . - The productivity and knowledge workers depend on computer and information competency - What can managers do to enhance the productivity of knowledge workers.  Electronic commerce  The process of buying and selling good and services electronically through use of the internet.  Examples?  What are the implications of IT within organizations? See figure 13.1 ( 7.1 in old textbook)  What is useful Information? - Data - Information - What are the differences between data and information? - What are the characteristics of useful information?  Information needs of organizations.  What are the benefits of increasing information exchanges with the external environment?  What are the benefits of increasing information exchanges within the organizations ?  Figure 13.2  Basic information system concepts - Info system - Management info system ( MIS) - Decision support systems Managerial advantages of IT utilization: -utilize the information gained to make decisions in all phases of the management process – planning, organizing, leading, and controlling Performance deficiency Performance opportunity  Problem solving  A Decision is.. - A choice among possible alternative course of action.  Programmed decisions  Non-programmed decisions  Crisis decision making  Decision environments: - Certain environments - Risk environments - Uncertain environments - See figure 7.4 (13.4) Three environments for managerial decision making and problem solving. PROBLEM SOLVING STYLES - Problem avoiders - Problem solvers - Problem seekers Systematic versus intuitive thinking. - Systematic thinking approached problems in a rational, step-by-step, and
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