GMS 200 Chapter Notes -Crisis Management, Availability Heuristic, Satisficing

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Bamidele Adekunle

Document Summary

Career success requires the must have competencies: computer competency the ability to understand computers and to use them to their best advantage; and information competency the ability to use technology to locate, retrieve, evaluate, organize and analyze information for decision-making. Data is not information, it is raw facts and observations but when it is converted it is information which is data made useful and meaningful for decision-making. Information needs in organizations: information technology helps us acquire, store and process information. Information and the external environment: managers use intelligence information to deal with customers, competitors and other stakeholders such as government agencies, creditors, suppliers, and stockholders. Organizations send vast amounts of public information to stakeholders and the external environment. It can build image and advertise products or financial reporting. Information and the internal environment: it can gather and move information quickly within an organization, which is an asset to decision-making.