GMS 200 Lecture 2: GMS 200-Week 2 Detailed Class Notes
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GMS 200 Full Course Notes
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Knowledge and info give a company a competitive advantage. An org relies upon valuable data to enable it to respond to stakeholders specific need, preferences and satisfactions. Only when it can be analyzed and interpreted it becomes useful. Information (produced by analyzing data and it is endowed with purpose) Converting data into info requires knowledge and knowledge, by definition, is specialized. Wisdom is the result of knowledge plus character applied to difficult situations that demand a decision. The manager focuses not on people or on action but on info as an indirect way to make things happen. Managers as info processeors y henry mintzberg identified 3 managerial roles:-managing people, managing information and managing action. y as a manager of information, the manager monitors, disseminates and communicates information. Decision making in business: y decision making is a crucial part of good business.