GMS 200 Lecture Notes - Availability Heuristic, Problem Solving, Decision-Making

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

Document Summary

The 2 must have competencies if you are going to survive in 21st century. Computer competency: ability to understand computers and to use them to their best advantage. Information competency: ability to utilize technology to locate/retrieve, evaluate, organize, and analyze info for decision making. The management functions of planning, organizing, leading and controlling are driven by info. According to mintzberg, the job of managing is significantly one of information processing, especially through a great deal of listening, seeing, and feeling as well as good. Businesses, especially large ones, have little choice but to become information based. Companies using it equip. can create and distribute info quicker. Significant changes in the external (macro) environment ex: globalization, social, and economic trends, have been produced by info. Information has become a business resource on par with the traditional business resources, which are money, labour, and productive capacity.