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Lecture 2

GMS 200 Lecture 2: Information and Decision Making

3 Pages
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Department
Global Management Studies
Course Code
GMS 200
Professor
Bamediele Adukunle

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Description
Information and Decision Making (Lecture 2) Infotech and the new workplace - Knowledge and knowledge workers provide a decisive competition factor - Knowledge worker: o - intellectual capital o Knowledge & intellectual capital are irreplaceable organizational responses o The productivity of knowledge workers depends on computer competency, info competency IT and new workplace - E-commerce - Stages of development in e-commerce: o Secure an online identity o Establish a web presence o Enable e-commerce o Provide e-commerce & customer relationship o Utilize a service application model o IT facilities commerce and info sharing, reduction in the structure and excellent coordination/control o IT builds relationships with external environment o Data is raw facts & observations o Info is data made available for decision making o Good info must be timely, HQ, complete, relevant and understandable Role of info in the management process - Data – info – decision making - Info exchanges with the external environment within the organization - The external and internal info needs of the organization Info exchanges with the external environment - Intelligence info = gathered from stakeholders and external environment Internal info = flows up, down, across, around organizations Public info = disseminated to stakeholders and external environment - The manager is the processing nerve centre Concepts: o Info system o MIS o Decision support system (DSS) o Artificial intelligence (AI) o Expert systems (ES) o Intranets and corporate portals o Extranets and enterprise portals o Electronic data interchange (EDI) Advantages of IT: o Planning, organizing, leading, controlling Info and decision making - A performance deficiency is actual performance being less desired performance -
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