GMS 200 Lecture Notes - Lecture 2: Decision Model, Ethical Decision, Satisficing

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GMS 200 Full Course Notes
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GMS 200 Full Course Notes
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Document Summary

Problem solving is coming up with potential ways to come up with a result. Decision making is from the options made in problem solving choosing one option to follow. Raw facts and observation: can be processed to create useful information, view of past (rise-fall, helps better decisions in future, useful for generating graphs, reports and stats. Information: data made useful and meaningful for decision making: the manipulated and processed form of data, used for making decision. Information drives management functions census data generates different information- literacy rate. Complete: and sufficient for problem at hand. Relevant: appropriate for the task at hand. How does information technology help managers: acquire, store, process, analyze, transmit information. Information system: use of the latest it to collect, organize, and distribute data for use in decision making. Management information system (mis: specifically designed to meet the information needs of managers in daily decision making.

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