Textbook Notes (378,761)
CA (167,294)
Ryerson (11,569)
GMS (1,025)
GMS 200 (577)
Sui Sui (46)
Chapter 7

Chapter 7

8 Pages
63 Views

Department
Global Management Studies
Course Code
GMS 200
Professor
Sui Sui

This preview shows pages 1-3. Sign up to view the full 8 pages of the document.
Chapter 7/Lecture 2
Information and decision making
Case: Changes youll see in 2020
In 1950, a magazine called popular mechanics attempted to predict the
future in an article entitled, miracles youll see in the next fifty Years
Many predictions were wildly off the mark other guesses were much closer
to todays reality
Green retailing
oPremium payments for enviro-friendly products, more low energy
production and the creation of new, higher, standards for ethical
trading
Individualized service
oService will become an even more finely-calibrated proposition
between retailer and customer. And service components will evolve
increasingly from reactive predictive
Going for growth
oGrowth in terms of the multiplicity of geographic, online and format
offerings, with purchasing available in store, online or through call
centers
What we can predict wont change
o Companies that can react swiftly to market trends and respond
relevantly to new customer behaviors will achieve high performance
and growth despite marketplace conditions
Sources: http://www. Accenture.com Retail in 2020
LECTURE QUESTIONS
1.How is information technology changing the workplace?
a.Information and knowledge
i. Knowledge worker
Can knowledge workers only be found in high-tech industry?
ii. Intellectual capital
Shared knowledge of a workforce that can be used to create wealth
www.notesolution.com
b.Information and knowledge
i. The Productivity of knowledge and knowledge workers depends on:
Computer and information competency
ii. How can managers enhance the productivity of knowledge workers?
iii. What is the work environment that will attract the new generation of
knowledge workers?
c.Electronic commerce
i. The process of buying and selling goods and services electronically through
use of the internet
d.What are the implications of IT within organizations?
i. FIGURE 7.1: information techonolgy is breaking barriers and
changing organizations
www.notesolution.com
Case. Quality of work life Google
Google is known for having an informal corporate culture
Googles corporate philosophy embodies such casual principles as:
oYou can make money without doing evil
oYou can be serious without a suit
oWork should be challenging and the challenge should be fun
As motivation technique, Google uses a policy often called innovation time
off, where google engineers are encouraged to take 20% of their time to
work on something company-related that interests them personally
People work better when theyre involved in something theyre passionate about,
and many cool technologies have their origins in 20 percent time, including
Gmail, Google news, Orkut, and AdSense originated from these independent
endeavors.
2.What is the role of information in the management process?
a.What is useful information?
i. Data: raw facts
ii. Information: organized data
iii. What are the characteristics of useful information?
Timely: available when needed; it meets deadlines for decision making
High quality: accurate and reliable; can be used with confidence
Compete: sufficient for the task at hand; as up-to-date as possible
Relevant: appropriate for the task at hand; free from irrelevant
material
Understandable: clear and understood by users; free from unnecessary
details
b.Information needs of organizations
i. Information exchanges with the external environment:
Gather intelligence information
Provide public information
www.notesolution.com

Loved by over 2.2 million students

Over 90% improved by at least one letter grade.

Leah — University of Toronto

OneClass has been such a huge help in my studies at UofT especially since I am a transfer student. OneClass is the study buddy I never had before and definitely gives me the extra push to get from a B to an A!

Leah — University of Toronto
Saarim — University of Michigan

Balancing social life With academics can be difficult, that is why I'm so glad that OneClass is out there where I can find the top notes for all of my classes. Now I can be the all-star student I want to be.

Saarim — University of Michigan
Jenna — University of Wisconsin

As a college student living on a college budget, I love how easy it is to earn gift cards just by submitting my notes.

Jenna — University of Wisconsin
Anne — University of California

OneClass has allowed me to catch up with my most difficult course! #lifesaver

Anne — University of California
Description
Chapter 7/Lecture 2 Information and decision making Case: Changes you’ll see in 2020 • In 1950, a magazine called “popular mechanics” attempted to predict the future in an article entitled, “miracles you’ll see in the next fifty Years” • Many predictions were wildly off the mark other guesses were much closer to today’s reality • Green retailing o Premium payments for enviro-friendly products, more low energy production and the creation of new, higher, standards for ethical trading • Individualized service o Service will become an even more finely-calibrated proposition between retailer and customer. And service components will evolve increasingly from reactive predictive • Going for growth o Growth in terms of the multiplicity of geographic, online and format offerings, with purchasing available in store, online or through call centers • What we can predict won’t change o Companies that can react swiftly to market trends and respond relevantly to new customer behaviors will achieve high performance and growth despite marketplace conditions Sources: http://www. Accenture.com “Retail in 2020” LECTURE QUESTIONS 1. How is information technology changing the workplace? a. Information and knowledge i. Knowledge worker • Can knowledge workers only be found in high-tech industry? ii. Intellectual capital • Shared knowledge of a workforce that can be used to create wealth www.notesolution.com b. Information and knowledge i. The Productivity of knowledge and knowledge workers depends on: • Computer and information competency ii. How can managers enhance the productivity of knowledge workers? iii. What is the work environment that will attract the new generation of knowledge workers? c. Electronic commerce i. The process of buying and selling goods and services electronically through use of the internet d. What are the implications of IT within organizations? i. FIGURE 7.1: information techonolgy is breaking barriers and changing organizations www.notesolution.com Case. Quality of work life – Google • Google is known for having an informal corporate culture • Google’s corporate philosophy embodies such casual principles as: o You can make money without doing evil o You can be serious without a suit o Work should be challenging and the challenge should be fun • As motivation technique, Google uses a policy often called innovation time off, where google engineers are encouraged to take 20% of their time to work on something company-related that interests them personally People work better when they’re involved in something they’re passionate about, and many cool technologies have their origins in 20 percent time, including Gmail, Google news, Orkut, and AdSense originated from these independent endeavors. 2. What is the role of information in the management process? a. What is useful information? i. Data: raw facts ii. Information: organized data iii. What are the characteristics of useful information? • Timely: available when needed; it meets deadlines for decision making • High quality: accurate and reliable; can be used with confidence • Compete: sufficient for the task at hand; as up-to-date as possible • Relevant: appropriate for the task at hand; free from irrelevant material • Understandable: clear and understood by users; free from unnecessary details b. Information needs of organizations i. Information exchanges with the external environment: • Gather intelligence information • Provide public information www.notesolution.com ii. Information exchanges within the organization: • Facilitate decision making • Facilitate problem solving iii. Figure 7.2 EXTERNAL AND INTERNAL INFORMATION NEEDS OF ORGANIZATIONS c. Basic information system concepts: i. Information systems: use IT to collect, organize and distribute data for use in decision making ii. Management information systems: meet the specific information needs of managers in daily decisions. iii. Decision support system: interactive information system that allows users to organize and analyse data for problem solving iv. Groupware (group DSS) : software that favilitates gourp collaboration and problem solving. v. ...Is newest technology always better? vi. intranets and corporate portals: use the web for communication and data sharing within an organization vii. Extranets and enterprise portals: use the web for commincation and data sharing between an organization and its environment. viii. d. Managerial advantages of IT utilization i. Planning advantages : better and more timely access to useful information, involving more people in the planning process ii. Organizing advantages: more ongoing and informed communication among all parts, improving coordination and integration. iii. Leading advantages: more frequent and better communication with staff and stakeholders, keeping objectives clear. iv. Controlling advantages: more immediate measures of performance results, www.notesolution.com allowing real-time soluations to problems. Case: Lululemon Athletica • A self described yoga inspired athletic apparel company, produces a clothing line and runs international clothing stores • 2007 sea
More Less
Unlock Document


Only pages 1-3 are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


OR

Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit