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Lecture 13

GMS 200 Lecture Notes - Lecture 13: Crisis Management, Business Intelligence, Problem Solving


Department
Global Management Studies
Course Code
GMS 200
Professor
Deborah De Lange
Lecture
13

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Chapter 13
Information and Decision-Making
Information, Technology and Management
Data are raw facts and observations
Information is data made useful for decision making
Characteristics of useful information:
Timely: the information is available when needed
High quality: the information is accurate and reliable
Complete: the information is complete and sufficient
Relevant: the information is appropriate for the task at hand
Understandable: the information is clear and easily understood
Management with analytics involves systematic gathering and processing of data to make
informed decisions.
Information Systems and Business Intelligence
Information technology helps us acquire, store and process information. They can also
bring financial transparency to all levels of an organization.
Business intelligence taps information systems to extract and report data in organized
ways that are helpful to decision makers
Information Needs in Organizations
How IT is Changing Oranizations
Management information systems use IT to collect and distribute data for use in decision-
making

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Chapter 13
Information and Managerial Decisions
Managers as Information Processors
Planning advantages of IT: better and more timely access to information
Organizing advantages of IT: more ongoing & informed communication among all parts
Leading advantages of IT: more frequent & better communication with staff/stakeholders
Controlling advantages of IT: more immediate measures of performance results
Managers as Problem Solvers
Problem solving involves identifying and taking action to resolve problems
A decision is a choice among possible alternative courses of action
The most obvious problem is performance deficiency, which is when actual
performance is less than desired
Another is performance opportunity, which is when an actual situation either turns out
better than anticipated
Openness to Problem Solving
Problem avoiders are managers who ignore information that would otherwise signal a
performance opportunity/deficiency
Problem Solvers are mangers who are willing to make decisions and deal with problems,
but only when forced by the situation
Problem seekers are managers that actively process information and constantly look for
problems to solve
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