BUS 304 Lecture : Ch.8 - Information Technology and Control
Document Summary
Also known as data mining, it allows for data analysis from multiple sources (inside and outside of the organization) to identify patterns and relationships. Organizational decision-making systems: management information system (mis) managerial decision making. 2 types are management control systems and balanced scorecard. 4 elements of management control systems include: budget, financial reports, statistical reports. Controls financial resources and reduces uncertainty about availability of resources. For e-commerce, for example, measures can be used such as stickiness (how much attention a site gets over time), conversion rate (ratio of buyers to site visitors), etc: reward systems, quality control systems. They provide incentives to meet goals and help control employee behaviour. Control according to guidelines and goals, and it specifies standards for employee participation, teamwork, and problem solving. 3. 4 defects per million parts, and it emphasizes pursuit of quality over higher cost.
