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

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Deborah De Lange

Document Summary

Information is data made useful for decision making. High quality: the information is accurate and reliable. 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 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. Management information systems use it to collect and distribute data for use in decision- making. 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. Problem solving involves identifying and taking action to resolve problems.