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Chapter 13

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Global Management Studies
GMS 200
Shavin Malhotra

Chapter 13- Information and Decision Making What is useful information?  Data are raw facts and observations o Data DOES NOT EQUAL INFORMATION  Information is data made useful and meaningful for decision making o Data would be demographics of who buys CDs, but INFORMATION would mean changing your advertising because younger customers mostly buy through the internet and they are your target market  Information is only truly useful if its matches these five criteria o Timely – The information is available when needed o High Quality – Accurate and reliable info o Complete – Info is complete and sufficient for the task at hand ; current and up to date o Relevant – free from extraneous or irrelevant materials o Understandable – the information is clear and easily understood by the user, free from unnecessary detail  Information Technology helps us acquire, store, and process information How IT is Changing Organizations  Information Systems uses the latest in IT to collect, organize, and distribute data in such a way that it becomes meaningful information.  Management Information Systems (MIS) meet the specific information needs of managers as they make a variety of day-to-day decisions o Ex: MIS system that monitors more than 500 aspects of organizational performance, such as billing accuracy, arrival times, driver satisfaction, etc.  It offers many advantages: o Planning Advantages of IT - better and more timely access to useful information, involving more people in the planning process o Organizing – more ongoing and informed communication, improving coordination and integration o Leading – more frequent and better communication with staff and diverse stakeholders, keeping objectives clear o Controlling – immediate measures of performance results, allowing real-time solutions to problems Managers As Problem Solvers  Problem solving is the process of identifying a discrepancy between an actual and a desired state of affairs, and then taking action to resolve it.  A decision is a choice among possible alternative courses of action Seriously? The word decision has been used a total of 429 times previously, and just now they explain this basic word?  In systematic thinking, a person approaches problems in a rational, step by step, and analytical fashion. This type of thinking breaks a complex problem into smaller components and then addresses them in a logical and integrated fashion.  Intuitive thinking approaches problems in a flexible and spontaneous way, and may also be quite creative. This type of thinking allows a person to respond imaginatively to a problem based on a quick and broad evaluation of the situation and the possible alternative course of action. This approach best works in situations where facts are limited and few decisions exist.  To deal with multiple interrelated issues, Managers use multidimensional thinking. It is an ability to address many problems at once, in relationship to one another and across both long and short time horizons.  In strategic opportunism, managers are able to focus on long-term objectives while being flexible in dealing with short term problems and opportunities in a timely manner.  Structured Problems – straightforward and clear with respect to information needs. o Because these problems are routine and occur over and over, they can be dealt with using programmed decisions that use solutions already available from past experience  Unstructured Problems have ambiguities (inexactness, being open to more than one interpretation) and information deficiencies (risk environments) o These problems require non-programmed decisions that applies a specific solution crafted for a unique problem  An extreme type of non-programmed decision occurs in times of crisis – an unexpected problem that can lead to disaster if not resolved quickly and appropriately. Examples can be anything from Terrorism in a post 9/11 world, IT failures, security breaches, ethical scandals and environmental catastrophes. o Some organizations engage in formal crisis management programs. They are designed to help managers and others prepare for unexpected high-impact events that threaten an organizations health and well-being.  There are 3 decision conditions or environments: certainty, risk and uncertainty  Certain Environment – ideal situation where factual information is available on all alternative courses of action, and their consequences. The decision is the easiest to make , you study the alternatives and pick the best solut
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