ITM 102 Lecture 12: Lecture 12

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 102
• Professor: Shi Kui Wu

Document Summary

Managers and decision making in the real world: managerial roles, real-world decision making. Unstructured decisions: novel, non-routine decisions requiring judgment and insights. Structured decisions: routine decisions with definite procedures. Semi-structured decisions: only part of decision has clear-cut answers provided by accepted procedures. Unstructured senior management i. e. decide entrance or exit from markets, approve capital budget, decide long-term goals. Semistructured middle management i. e. design a marketing plan, develop a departmental budget, design a new corporate website. Structured operational management i. e. determine overtime eligibility, restock inventory, offer credit to customers, determine special offers to customers. Senior managers, middle managers, operational managers, and employees have different types of decisions and information requirements. Managers and decision making in the real world. Managerial roles: classical model of management, behavioural models of management. Three categories of managerial roles: interpersonal roles, informational roles, decisional roles. Made possible through computer algorithms precisely defining steps for a highly structured decision. Require safeguards to ensure proper operation and regulation.