BU398 Chapter Notes -Management Control System, Data Warehouse, Balanced Scorecard
Document Summary
Also known as data mining, it allows for data analysis from multiple sources (inside and outside of the organization) to identify patterns and relationships: evolution of organizational applications of it: Organizational decision-making systems: management information system (mis) managerial decision making. 2 types are management control systems and balanced scorecard: the following is a simplified feedback control model: 4 elements of management control systems include: budget, financial reports, statistical reports. Controls financial resources and reduces uncertainty about availability of resources. For e-commerce, for example, measures can be used such as stickiness (how much attention a site gets over time), conversion rate (ratio of buyers to site visitors), etc: reward systems, quality control systems. They provide incentives to meet goals and help control employee behaviour. 3. 4 defects per million parts, and it emphasizes pursuit of quality over higher cost. Balanced scorecard: a comprehensive management control system that balances traditional financial measures with operational measures relating to an organization"s critical success factors.