COMM 112 Study Guide - Final Guide: Decision-Making, Intellectual Capital, Secondary Market

• School: Queen's University
• Department: Commerce
• Course: COMM 112
• Professor: Rob Beamish

Document Summary

Gms200 week 2 lecture notes --chapter 13: decision making process. Information and knowledge: knowledge and knowledge workers provide a decisive competitive factor in today"s economy. Knowledge workers: someone whose value to the organization rests with intellect, not physical capabilities. Intellectual capital: shared knowledge of a workforce that can be used to create wealth. Data--- information (using data to help make decisions)--------- yes/no. Figure 1, internal and external information needs of an organization. Figure 2, information technology is breaking barriers and changing organizations. Figure 3, the manager as information-processing nerve center. A performance deficiency: actual performance being less than desired performance. A performance opportunity: actual performance being better than desired performance. Problem solving: the process of identifying a discrepancy between actual and desired performance and taking action to resolve it. Decision: a choice among possible alternative course of action. Problem solving styles: problem avoiders, problem seekers, problem solvers. Apply solutions that are readily available from past experiences.