GMS 200 Lecture : Chapter 13 (7 in Old Book) Lecture Notes
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Knowledge worker: workers whose job involves handling or using information. Intellectual capital: shared knowledge of a workforce that can be used to create wealth. The productive and knowledge workers depend on computer and information competency. Data: facts and statistics collected together for reference or analysis. Information: facts provided or learned about something or someone. More information is always better. (t: assuming the information is good) Computers eliminate the need for human judgment. (f: computer lacks personality) The newest technology is always the best. (f: depends on the needs of the company) Nothing will ever go wrong with your computer. (f: damages require $ to fix (contingency plan)) Utilize the information gained to make decisions in all phases of the management process. Certain environments: decision makers know alternative courses of action and their outcomes. Risk environments: decision maker views alternatives and their outcomes in terms of probabilities. Uncertain environments: decision maker doesn"t know all alternatives and outcomes, even as possibilities.