GMS 200 Lecture Notes - Lecture 3: Walton Family, Environmental Organization, Detergent

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

Document Summary

____ use this chapter to do assignment 1: due in 2 weeks. Metlife: metlife canada 1907, state-of-art information technology system: card files, done/organized by many women by hand. Strategic importance of information: use data networking: get from phones, computers, laptops, fax/printer, etc. Information and knowledge: data: raw facts and observations, information: data made useful for decision making. Figure 13. 2 : info tech is breaking barriers and changing organizations. Managerial advantages of it utilization: planning advantages better and more timely access to useful information get right product mix, organizing advantages. A decision: a choice among possible alternative course of action. Crisis decision making: an unexpected problem that can lead to disasters if it is not resolved quickly and appropriately. Overestimate the like hood of success, ie. in the emerging market: representativeness heuristic: Use categories when choosing business partners: anchoring and adjustment heuristic. Valuation of foreign assets based on the given offer. Source of potential decision making error: framing error.