busn exam 2 Flashcards
2.1
6 steps of decisin making process
problem identification
data collection
solution generation
solution test
solution selection
solution implementation
problem identification
Define the problem as clearly and precisely as possible. Example: Customer is unhappy with a purchase and
wants to return it after the 30-day return policy expired.
data collection
Gather problem-related data, including who, what, where, when, why, and how. Be sure to gather facts, not rumors or opinions about the problem. Example: Gather details on problem with
product and customer.
solution generation
Detail every solution possible, including ideas that seem farfetched. Example: Allow the return, do not allow the
return, or offer to switch the product for a new one.
solution test
Evaluate solutions in terms of feasibility (can it be completed?), suitability (is it a permanent or a temporary fix?), and
acceptability (can all participants form a consensus?).
solution selection
Select the solution that best solves the problem and meets the needs of the business. Example: Allow the customer
to return the product.
Solution Implementation:
Implementation: If the solution solves the problem, then the decisions made were correct. If not, then the decisions were
incorrect and the process begins again.
managers develop overall business strategies, goals and objectives as part of the company’s strategic plan (what level is this)
Strategic (unstructured decision)
Employees are continuously evaluating company operations to hone the firm’s abilities to identify, adapt
to, and leverage change
managerial level (semistructured decision)
Employees develop, control, and maintain core
business activities required to run the day-to-day
operations
operational level (structured )
Employees develop, control, and maintain core
business activities required to run the day-to-day
operations
operational decision
these concerns hoe the organization should achieve the goals and objectives by its strategy. they are usually the responsibility of mid-level management.
managerial decisions
transaction processing system
Operational and structured
decision support system
managerial and semi-structured
executive information system
strategic and unstructured
the manipulation of info. to create business intelligence in support of strategic decision making
online analytical processing (olap)
Encompasses all of the information contained within a single business process or unit of work, and its primary purpose is to support the performing of daily operational or structured decisions.
transactional information
The capturing of transaction and event information using technology to (1) process the information according to defined business rules, (2) store the information, and (3) update existing information to reflect the new information.
online transaction processing (OLTP)
-facing processes are invisible to the external customer but essential to the effective management of the business.
business
Business process Blank______ and notation is a graphical notation that depicts the steps in a business process.
model
What results in a product or service received by an organization’s external customer?
customer facing process
process models represent the current state of the operation that has been mapped, without any specific improvements or changes to existing processes.
as-is
Automation is the process of computerizing Blank______ tasks, making them more efficient and effective and dramatically lowering operational costs.
manual
