GMS 200 Chapter Notes - Chapter 13: Crisis Management, Representativeness Heuristic, Design Thinking
28 Jun 2018
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GMS Chapter 13 - Information and decision-making
Information that is truly useful in management is: timely, high quality, complete,
relevant, and understandable
Management with analytics - involves systematic gathering and processing of data
to make informed decisions
Information technology - helps us acquire, store and process information
Business intelligence - taps information systems to extract and report data in
organization ways that are helpful to decision makers
Mangers use this intelligence information to deal with customers, competitors, and
other stakeholders
Intelligence information - gather from stakeholders and external environment ->
internal information - flows up, down, around and across organizations -> public
information - disseminated to stakeholders and external environment
Internal and external information flows are essential to problem solving and
decisions making in organizations
Management information systems - use IT to collect, organize and distribute data
for use in decision making
IT advantages:
Better/more timely access to useful information (planning)
More ongoing and informed communication (organizing)
More frequent and better communication (leading)
More immediate measures of performance results (controlling)
Problem solving - involves identifying and taking action to resolve problems
Some managers and problem avoiders who ignore information that would otherwise
signal the presence of a performance opportunity or deficiency
Other managers are problem solvers who are willing to make decisions and try to
solve problems, but only when forced by the situation.
Problem seekers actively process information and constantly look for problems to
solve, proactive and forward thinking
Systematic thinking - approaches problems in a rational and analytical way
Intuitive thinking - approaches problems in a flexible and spontaneous fashion
Multidimensional thinking - an ability to address many problems at once
Strategic opportunism - focuses on long term objectives while being flexible in
dealing with short term problems
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GMS 200 Full Course Notes
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Document Summary
Information that is truly useful in management is: timely, high quality, complete, relevant, and understandable. Management with analytics - involves systematic gathering and processing of data to make informed decisions. Information technology - helps us acquire, store and process information. Business intelligence - taps information systems to extract and report data in organization ways that are helpful to decision makers. Mangers use this intelligence information to deal with customers, competitors, and other stakeholders. Intelligence information - gather from stakeholders and external environment -> internal information - flows up, down, around and across organizations -> public information - disseminated to stakeholders and external environment. Internal and external information flows are essential to problem solving and decisions making in organizations. Management information systems - use it to collect, organize and distribute data for use in decision making. Better/more timely access to useful information (planning) More immediate measures of performance results (controlling) Problem solving - involves identifying and taking action to resolve problems.
