GMS 200 Lecture 2: GMS 200 chapter/Lecture 2 notes

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Ado Abdoulkadre

Document Summary

Learning objectives: understand the role of information in the management process, understand how managers use information to make decisions, understand the steps in the decision-making process, understand the current issues in managerial decision making. Knowledge and knowledge workers provide a decisive competitive factor in today"s. Someone whose value to the organization rests with intellectual, not physical economy. capabilities. Shared knowledge of a workforce that can be used to create wealth (not physical) Information - data made useful for decision making. Figure 13. 1 internal and external information needs of an organization. Figure 13. 3 information technology is breaking barriers and changing organizations. Information system - use of the latest it to collect, organize, and distribute data for decision making (intranet) Management information system (mis) - specifically designed to meet the information needs of managers in daily decision making. Figure 13. 4 the manager as an information-processing nerve center. Actual performance being less than desired performance. Actual performance being better than desired performance.