GMS 200 Study Guide - Midterm Guide: Crisis Management, Problem Solving, Business Intelligence

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Olga Tabunshikova

Document Summary

Information: data made useful and meaningful for decision-making: characteristics of useful information: timely, high quality, complete, relevant, understandable. Information technology: helps one acquire, store and process information. It brings transparency to all levels of an organization. Business intelligence: taps information systems to extract and report data in organized ways that are helpful to decision-makers. Ex: use of executive dashboards to visually display and update key performance metrics. Decision-making process: a set of activities that begin with the identification of a problem, include making a decision, and end with the evaluation of results. Problem solving: the process of identifying a discrepancy between the actual and desired state of affairs and then taking action to resolve the deficiency or take advantage of the opportunity. Systematic thinking: approaching problems in a rational, step-by-step, and analytical fashion. Intuitive thinking: approaching problems in a flexible and spontaneous fashion. Multidimensional thinking: an ability to address many problems at once.