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MGTA02H3 (136)

Chapter 3 - Study guide

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University of Toronto Scarborough
Management (MGT)
Chris Bovaird

Chapter 3 Information Manager: is responsible for the activities needed to generate, analyze, and disseminate information that a company needs to make good decisions Information Management: an internal operation that arranges the firms information resources to business performance and outcomes Data: raw facts and figures lacks analysis lacks context useless on its own Information: a meaningful, useful interpretation of data Knowledge: Through education and experience, the use of information to make decisions Management Information Systems: Systems that allow managers to record and store data, and to analyze and use data to obtain information and acquire knowledge Information System (IS): an organized method of transforming data into information that can be used for decision making assemble data analyze data to create information distribute information allow humans to acquire knowledge at all levels, information quality depends on an organizations technological resources and on the people who manage them the widening role of IS results from rapid developments in electronic technologies that allow faster and broader flows of information and communication basic change in organization is an increased interdependence between a companys business strategy and it IS
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