GMS 200 Chapter 7: Chapter 7 - Information & Decision Making

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Shavin Malhotra

Document Summary

Knowledge worker: add value to organizations through intellect. Knowledge workers add to an intellectual capital: collective brainpower or shared knowledge of a workforce. Both knowledge and intellectual capital are irreplaceable organizational resources. Significant business developments of all time is electronic commerce (e-commerce) which is the buying and selling goods and services through use of the internet. Business transactions between buyers and sellers are completed through online rather than face to face. Business to consumer b2c or business to business b2b use the internet to collaborate and make transactions with one another. It is changing organizations by breaking down barriers. This means that people working in different departments, levels and physical locations can more easily communicate and share information. It also breaks barriers between organizations and key elements in the external environment. External environment is an important role in customer relationship management, by accurately providing information for decision makers regarding customer needs, preferences and satisfaction.