BU398 Lecture Notes - Lecture 8: Explicit Knowledge, Tacit Knowledge, Tesco.Com
Also known as data mining, it allows for data analysis from multiple sources (inside and outside of the organization) to identify patterns and relationships: evolution of organizational applications of it: Organizational decision-making systems: management information system (mis) managerial decision making. 2 types are management control systems and balanced scorecard: the following is a simplified feedback control model: 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. 3. 4 defects per million parts, and it emphasizes pursuit of quality over higher cost. Balanced scorecard: a comprehensive management control system that balances traditional financial measures with operational measures relating to an organization"s critical success factors.