GMS 200 Chapter 13: Chapter 13 - GMS.doc

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Horatio Morgan

Document Summary

It helps us acquire, store, process information. Information and the external environment: managers use intelligence information is deal with customers, competitors, & stakeholders such as government agencies, creditors, supplies, & stockholders. organizations also send vast amounts of public information to stakeholders & external environment. Information and managerial decisions information is the centre point in all 3 phases information helps a leader sense the need for a decision, frame an approach to it, communicate about it with others. & informed communication among all part, improving coordination & integration leading advantages of it more frequency & better communication with staff & diverse stakeholders, keeping objectives clear. 3: controlling advantages of it more immediate measures of performance results, allowing real time solutions to problems. Decision conditions: 3 different conditions/ environments; certainty, risk, uncertainty. Risk environment risk environment lacks complete information but offers probabilities of the likely outcomes for possible action alternatives; incomplete.