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Chapter 7

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Global Management Studies
GMS 200
Jian Guan

GMS200 Chapter 7 Notes Study Questions 1. How is information technology changing the workplace? 2. What is the role of information in the management process? 3. How do managers use information to make decisions? 4. What are the steps in the decision-making process? 5. What are the current issues in managerial decision making? Study Question #1’s Answer • Information and knowledge – basic linkages o Knowledge and knowledge workers provide a decisive competitive factor in today’s economy o Knowledge worker  Someone whose value to the organization rests with intellect, not physical capabilities • Electronic commerce o The process of buying and selling goods and services electronically through the use of the internet  B2C e-commerce (business to customer)  B2B e-commerce (business to business)  Stages of development in e-commerce: • Secure an online identity • Establish a Web presence • Enable e-commerce • Provide e-commerce and customer relationship management • Utilize a service application model  Implications of IT within organizations o Facilitation of communication and information sharing o Operating with fewer middle managers o Flattening of organizational structures o Faster decision making o Increased coordination and control  How IT is changing the office: o Progressive organizations actively use IT to help achieve high performance Study Question #2’s answer  What is useful information? o Data  Raw facts and observations o Information  Data made useful for decision making o Information drives management functions. o Characteristics of useful information:  Timely  High quality  Complete  Relevant  Understandable  Information needs of organizations o Information exchanges with the external environment:  Gather intelligent information  Provide public information o Information exchanges within the organization:  Facilitate decision making  Facilitate problem solving  Basic information system concepts o Artificial intelligence (AI)  Computer systems with the capacity to reason the way people do. o Expert Systems (ES)  Software systems that use AI to mimic the thinking of humans. o Intranets and corporate portals  Allow employees by password access, to share databases, and communicate electronically o Extranets and enterprise portals  Allow communication and data sharing between the organization and the external environment o Electronic data interchange (EDI)  Use controlled access to enterprise portal and supporting software to enable electronic transactions between businesses.  Managerial advantages of IT utilization o Planning advantages  Better and more timely access to useful information o Leading advantages  Improved communication with staff and stakeholders  Keeping objectives clear o Controlling advantages Study Question #3’s answer  A performance deficiency is… o Actual performance being less than desired performance  A performance opportunity is… o Actual performance being better than desired performance.  Programmed decisions o Apply solutions that are readily available from past experiences to solve structured problems o Structured problems are ones that are familiar, straightforward, and clear with respect to information needs o Best applied to routine problems that can be anticipated  Non-programmed decisions o Develop novel solutions to meet the demands of unique situations that present unstructured problems. o Unstructured problems are ones that are full of ambiguities and information deficiencies o Commonly faced by higher-level management  Crisis decision making o A crisis involves an unexpected problem that can lead to disaster if not resolved quickly and appropriately o Rules for crisis management  Figure out what is going on  Remember that speed matters  Remember that slow counts, too  Respect the danger of the unfamiliar  Problem-solving styles o Problem avoiders  Inactive in information gathering and solving problems o Problem solvers  Reactive in gathering information and solving problems o Problem seekers  Proactive in anticipating problems and opportunities and taking appropriate action to gain an advantage  Systematic versus intuitive thinking o Systematic thinking approaches problems in a rational step-by-step and analytical
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