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Lecture 2

GMS 200 Lecture 2: Chapter 13

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Ryerson University
Global Management Studies
GMS 200
Bamidele Adekunle

Lecture 2 – Information and Decision Making Information technology and the new workplace • Knowledge and knowledge workers provide a decisive competitive factor in today’s economy • Knowledge worker: o Intellectual capital o Knowledge and intellectual capital are irreplaceable organizational resources o 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: o Secure an online identity o Establish a Web presence o Enable e-commerce o Provide e-commerce and customer relationship management o Utilize a service application model • IT facilitates communication and information sharing, reduction in # of middle managers, better organizational structure and excellent coordination and control • IT builds relationships with external environment • IT has changed the new workplace (email, P2P 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 Information technology is breaking barriers and changing organizations The role of information in the management process • Date → 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 Internal and external information needs in organizations Information systems (LOOK AT ITM NOTES): • Management information system (MIS) • Decision support system (DSS) • Artificial intelligence (AI) • Expert systems (ES) • Intranets and corporate portals • Extranets and enterprise portals • Electronic data interchange (EDI) Advantages of IT: • Planning advantages • Organizing advantages • Leading advantages • Controlling advantages • The manager is the processing nerve centre in the next slide o The role of information in the management process (Schermerhorn & Wright Text) Information and decision making • A performance deficiency is actual performance < desired performance • A performance opportunity is actual performance > desired performance • Problem solving is the process of identifying a discrepancy between actual and desired performance and acting to correct it • A decision is a choice among possible a
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