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GMS200 Chapter Thirteen.doc

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Global Management Studies
GMS 200
Horatio Morgan

Information And Decision MakingUseful InformationInformation is useful in management when it meets five criteria These criteria are timely high quality complete relevant and understandableTimely The information is available when needed meeting deadlines for decision makingHigh Quality The information is accurate and reliable and can be used with confidenceComplete The information is sufficient for the task at hand being as up to date as possibleRelevant The information is appropriate for the task at hand being free of irrelevant materialUnderstandable The information is clear and easily understood by the userInformation Needs In An OrganizationAn important key to managerial performance is information technology and its many applications Information Technology Helps businesses acquire store process and transmit informationThe ability of IT to gather and move information quickly within an organization can be a great asset to decision making It can help top levels stay informed while allowing lower levels to make operational decisions and perform their jobs to the best of their abilityHow Information Technology Is Changing OrganizationsOrganizations are not only using IT they are also being changed by its uses The number of information jobs is rapidly increasing IT is also helping to break down barriers within organizations People working in different departments levels and locations can use IT to easily communicate and share information In other words IT has resulted in faster decision making enhanced communication and better use of information IT also plays a role in customer relations by providing information regarding customer needsInformation Systems Uses information technology to collect organize and distribute data for decision makingManagement Information MIS Meets the information needs of managers in making daily decisionsInformation And Managerial DecisionsInformation helps a manager sense the need for a decision frame an approach to it and communicate about it with othersManagers As Information ProcessorsManagers act as information processors gathering information giving it and receiving it IT also offers advantages to the management process in planning organizing leading and controllingPlanning advantages of IT include better access to useful information involving more people in the planning processOrganizing advantages of IT include more ongoing communication among all parts improving coordinationLeading advantages of IT include better communication with staff keeping objectives clearControlling advantages of IT include immediate measures of performance results creating solutions to problems
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