MGTA02H3 Chapter 3: Chapter 3.docx
11 Apr 2013
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MGTA02H3 Full Course Notes
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Chapter 3 managing information (upto pg 63) Business"s need information so they know when to produce their product/service and know how much to make". This ensures or minimizes the amount of disappointment customers may feel. Data: raw facts and figures (lack context and analysis: not useful by itself. Information: data analyzed and put into context (useful) Knowledge: once you have information and think, and learn from it and put it into good use, you"ve acquired knowledge: through education & experience, use the information to make decisions. Management information systems: systems that allow managers to record & store data, and to analyze and use the data to obtain information and acquire knowledge. Information technology is not a new concept, neither is electronic technology. The volume of data that can be processed and shared and used is growing exponentially. Leaner organizations: fewer employees are needed, fewer managers to communicate, people can get information directly. Facilitates remove working (outsourcing, work from home etc. )
