MKT 100 Chapter Notes - Chapter 13: Environmental Organization, Walton Family, Availability Heuristic

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Anthony Bonato

Document Summary

Gms202: lecture2 chapter 13 information and decision making. Not long ago: sales and inventory levels were mailed hardcopy summaries at the end of each month. Computer hardware and software had little to do with managing business information. The worlds largest company with 2. 2 million employees. Dounded by sam walton in 1962, walton family owns more than 50% of its stocks. Retail link (1991): connect sales with inventory and delivery. A catalyst for technology adoption among its suppliers (rfid technology) Big data: optimize operations by predicting customers habits. Leverage data to achieve world-class supply chain efficiencies at low costs. Better and more timely access to useful informstion: get the right product mix. Organizing advantages: more ongoing and informed communication among all parts of the organization. A choice among possible alternative course of action. Problem solving approaches or styles: problem avoiders, problem seekers, problem solvers. Certain environment: alternative courses of action and their outcomes are known to.