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Ryerson University
Global Management Studies
GMS 200
Jian Guan

George Nico Global Management (Notes) 9/20/12 CH 13: Management, 2/e Study Questions - What is the role of information in the management process? o Basic Information  Knowledge and knowledge workers provide a decisive competitive factor in today’s economy  Knowledge worker  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  Knowledge and intellectual capital are irreplaceable organizational resources  The productivity of knowledge and knowledge workers depends on:  Computer competency  Information competency o What is useful information?  Data  Raw facts and observations  Information  Data made useful for decision making  Information drives management functions  Characteristics of useful information  Timely  High quality  Complete  Relevant  Understandable o Implications of IT within organizations  Facilitation of communication and information sharing  Operating with fewer middle managers  Flattening of organizational structures  Faster decision making  Increased coordination and control o Implications of IT for relationships with external environment  Helps with customer relationship management  Helps organizations with supply chain management  Helps in monitoring outsourcing and other business contracts o Information needs of organizations George Nico Global Management (Notes)  Information exchanges with the external environment  Gather intelligence information  Provide public information  Information exchanges within the organization  Facilitate decision making  Facilitate problem solving o Basic information system concepts  Information system  Use 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 - How do managers use information to make decisions? o Managerial advantages of IT utilization  Planning advantages  Better and more timely access to useful information  Involving more people in planning  Organizing advantages  More ongoing and informed communication among all
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