Week 2 – GMS (CH 13)
The 2 must have competencies if you are going to survive in 21 century st
- Computer competency: ability to understand computers and to use them to their best
- Information competency: ability to utilize technology to locate/retrieve, evaluate, organize, and
analyze info for decision making.
The management functions of Planning, Organizing, Leading and Controlling are driven by info.
According to Mintzberg, the job of managing is significantly one of information processing, especially
through a great deal of listening, seeing, and feeling as well as good
Within organizations the increasing use of IT means:
1. Individuals/teams can communicate more easily and electronically share info
2. The organization can operate with fewer middle managers
3. Organizations can be flattened and operate with fewer levels of management
4. The speed of decision making can be increased
5. Coordination and control among decision makers can be increased
Businesses, especially large ones, have little choice but to become information based
- Computing power is getting cheaper
- Companies using IT equip. can create and distribute info quicker
- Significant changes in the external (macro) environment ex: globalization, social, and economic
trends, have been produced by info.
- Information has become a business resource on par with the traditional business resources,
which are money, labour, and productive capacity - Info about customers, competitors, suppliers, technology, trends, and regulations have all
become extremely valuable in today’s economy.
- Info technology is no longer a business resource, its business environment
- this rapid explosion in the growth and use of info technology is break down barriers within
organizations and between organizations and their environments thereby making organizations more
efficient, effective and competitive.
- Knowledge is power
- Knowledge and info give a company a competitive advantage
- Knowledge and Intelletual capital are irreplaceable resources that grow from info
MUST KNOW WHAT INTELLECTUAL CAPITAL IS FOR MIDTERM AND FINAL!!!!!!!!
An organization relies upon valuable data to enable it to respon to stakeholders specific concerns,
needs, preferences and satisfactions.
- Stakeholders have a direct interest in the company’s - employees
Divided in 2 Primary and Secondary
- Shareholders – investors
-- - Converting data into information requires knowledge. And knowledge,
by definition, is specialized
Wisdom -Wisdom is the result of knowledge plus character applies to difficult
situations that demand a decision.
Where does ones characters come from?
-- Data Their values, by which u are encouraged to strive and live your life.
EX: Christian – 10 commandments - Mintzberg tells us that the manager focuses not on people/action, but on info as an indirect way
to make things happen.
- The job of managing is significantly one of information processing.
- Planning, Organizing, Leading and Controlling are driven by information
-- CHARACTERISTICS OF MANAGEMENT INFORMATION, VERY IMPORTANT ↓↓
- Management info and analyses should have a number of characteristics as follows:
1) Info must be both timely and current, if not it is useless
2) It must be up to date and available when needed
3) It must be accurate, relevant, and complete
-- CHARACTERISTICS OF MANAGEMENT INFORMATION (Cont)
- Information must be presented in a format that assists in decisions
- It should be concise
- It should however, enable the manager to obtain further details as the situation warrants
-- MANAGERS AS INFORMATION PROCESSORS
- Mintzberg identified 3 managerial roles: managing people, managing information, and managing action
- As a manager of info, the manager monitors, disseminates an communicates info. He’s involved in
giving, receiving and analyzing info
- A decision maker, the manager is involved using info to make decisions in order to solve problems or
-- MANAGERS AS INFORMATION PROCESSORS (Cont)
- A manager must act as an information processing nerve centre, and must utilize the info aimed to
make decisions in all phases of the management process- planning, organizing, leading, and controlling.
- Managers want to the right info, at the right time, in the right format, and at the right cost.
-- MANAGERS AS PROBLEM SOLVERS Problem solving is the process of identifying a discrepancy between the actual and desired state of
affairs and then taking action