GMS 200 Lecture 2: CH 13 – INFORMATION AND DECISION MAKING

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Lori Anne Heckbert

Document Summary

Analytics: involves systematic gathering and processing of data to make informed decisions. Information technology: helps us acquire, store, and process information. Business intelligence: taps information systems to extract and report data in organized ways that are helpful to decision-makers. Management information systems (mis): use it to collect, organize, and distribute data for use in decision-making. Planning advantages of it better and more timely access to useful information, involving more people in the planning process. Organizing advantages of it more ongoing and informed communication among all parts, improving coordination and integration. Leading advantages of it more frequent and better communication with staff and diverse stakeholders, keeping objectives clear. Controlling advantages of it more immediate measures of performance results, allowing real time solutions to problems. Problem solving involves identifying and taking action to resolve problems. Decision a choice among possible alternative courses of action. Systematic thinking approaches problems in a rational and analytical fashion.