GMS 200 Lecture : Information and Decision Making- LECTURE 2.docx
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Knowledge and knowledge workers provide a decisive competitive factor in today"s economy. Knowledge and intellectual capital are irreplaceable organizational resources. The productivity of knowledge and knowledge workers depends on 1. Provide a e-commerce and customer relationship management. It facilitates communication and information sharing, reduction in the number of middle managers, better organizational structure and excellent coordination and control. It has changed the new workplace (email, p2p peer-to-peer file sharing) Good information must be timely, high quality, complete, relevant and uderstanble. Information is data made available for decision making. The role of information in the management process. Information exchanges with the external environment and within the organization. A performance deficiency is actual performance being less than desired performance. A performance opportunity is actual performance being better than desired performance. Problem solving is the process of identifying a discrepancy between actual and desired performance and taking action to correct it. A decision is a choice among possible alternative course of action.