ITM 102 Chapter Notes - Chapter 2: Biomimetics, Expert System, Business Process Management
28 Jun 2018
School
Department
Course
Professor
ITM Chapter 2
The more info a business acquires the more difficult it becomes to make decisions
Common Company Structure
Operational
Employees develop, control and maintain core business activities required to
run day to day operations
Operational decisions are considered structured decisions (short term)
oMade frequently, repetitive in nature, affect short term business
strategies
Managerial
Employees are continuously evaluating company operations to hone the
firms ability to identify, adapt to, and leverage change
Company that has competitive advantage needs to constantly adjust and
revise its strategy to remain ahead of the competition
Managerial decisions cover short and medium range plans, schedules,
budgets, policies, procedures, and business objectives
oThese types of decisions are considered semi structured decisions
(medium term)
Strategic (sub - managerial)
Managers develop overall business strategies, goals and objectives
Monitor strategic performance and overall direction in the political,
economic and competitive business environment
Strategic decisions are highly unstructured decisions (long term)
Transactional data - encompasses the raw facts contained within a single business
process, primary purpose is to support performing daily operational tasks
Analytical data - encompasses all summarizes or aggregated transaction data,
primary purpose is to support performing analysis tasks
Online transaction Processing (OLTP) - capturing of transaction and event data
using IS to process data according to defined business rules, store the data, and
update existing data to reflect the new data earned
Online analytical processing (OLAP) - analysis of summarized or aggregated info
sourced from transaction processing systems data, and external info from outside
industry forces, to create business intelligence in support of analytical and strategic
decision making
Capabilities with OLAP
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
The more info a business acquires the more difficult it becomes to make decisions. Employees develop, control and maintain core business activities required to run day to day operations. Operational decisions are considered structured decisions (short term: made frequently, repetitive in nature, affect short term business strategies. Employees are continuously evaluating company operations to hone the firms ability to identify, adapt to, and leverage change. Company that has competitive advantage needs to constantly adjust and revise its strategy to remain ahead of the competition. Managerial decisions cover short and medium range plans, schedules, budgets, policies, procedures, and business objectives: these types of decisions are considered semi structured decisions (medium term) Managers develop overall business strategies, goals and objectives. Monitor strategic performance and overall direction in the political, economic and competitive business environment. Strategic decisions are highly unstructured decisions (long term)
