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MGTA01H3 (348)
Lecture

management lec 5

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Department
Management (MGT)
Course
MGTA01H3
Professor
Chris Bovaird
Semester
Fall

Description
Level one data processingLevel two information processingLevel three information within businessesTypes of Information Systemsstrategic Management systemsKnowledge systems that help make the business more effectiveSystems that help managers develop highlevel strategies for the businessSystems that help the business adapt better to its wider environmentways of using knowledge inside the business to enhance the business not using data or information but embedding knowledge in the business its self so it can act more effectivelyThese are just starting as knowledge management is a new disciplineSimulation systems that allow managers toplay with the business in the computersystems for learning testing new ideassimulation system is like a play world you figure out what the key factors of your world are and then you program with them in your computer and run your computer you play with them playing with the world for example the oil market changed the price of oil if price tripled and they play out different scenarios In 1973 the oil producing countries decided they were being very underpaid for their old and would not sell oil at current price they tripled and insure the price stays up they cut the supply Shell oil company said they ran that scenario so they checked in their play world they said this works in the play world lets see if it works in the real world and it did work in the real world 980 news has a wether guarantee they say that theyll tell you what maxi
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