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
- 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.
The process of buying and selling good and services electronically through use of the internet.
What are the implications of IT within organizations?
See figure 13.1 ( 7.1 in old textbook)
What is useful 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 ?
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 opportunity Problem solving
A Decision is..
- A choice among possible alternative course of action.
Crisis decision making
- 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