GMS 200 Chapter Notes - Chapter 7: Availability Heuristic, Ethical Decision, Learning Organization

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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
oKnowledge and knowledge workers provide a decisive competitive factor
in today’s economy
oKnowledge worker
Someone whose value to the organization rests with intellect, not
physical capabilities
Electronic commerce
oThe 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
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Utilize a service application model
Implications of IT within organizations
oFacilitation of communication and information sharing
oOperating with fewer middle managers
oFlattening of organizational structures
oFaster decision making
oIncreased coordination and control
How IT is changing the office:
oProgressive organizations actively use IT to help achieve high
performance
Study Question #2’s answer
What is useful information?
oData
Raw facts and observations
oInformation
Data made useful for decision making
oInformation drives management functions.
oCharacteristics of useful information:
Timely
High quality
Complete
Relevant
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Understandable
Information needs of organizations
oInformation exchanges with the external environment:
Gather intelligent information
Provide public information
oInformation exchanges within the organization:
Facilitate decision making
Facilitate problem solving
Basic information system concepts
oArtificial intelligence (AI)
Computer systems with the capacity to reason the way people do.
oExpert Systems (ES)
Software systems that use AI to mimic the thinking of humans.
oIntranets and corporate portals
Allow employees by password access, to share databases, and
communicate electronically
oExtranets and enterprise portals
Allow communication and data sharing between the organization
and the external environment
oElectronic data interchange (EDI)
Use controlled access to enterprise portal and supporting
software to enable electronic transactions between businesses.
Managerial advantages of IT utilization
oPlanning advantages
Better and more timely access to useful information
oLeading advantages
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