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BusBis > Chapter 12: Enhanced Decision Making > Flashcards

Chapter 12: Enhanced Decision Making Flashcards

1
Q

Structured Decisions

A
  • repetitive and routine
  • definitive handling procedures
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2
Q

Unstructured Decisions

A
  • judgment, evaluation, insight
  • novel, important, nonroutine
  • no set procedure
  • more complex
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3
Q

Semistructured Decisions

A

only part of the problem has a definite solution with procedure

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4
Q

Senior Management

A

many unstructured decisions

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5
Q

Middle Management

A

semistructured decisions

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6
Q

Operational, Rank, File Employees

A

Structured Decisions

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7
Q

4 Steps Decision Making

A

1) Intelligence: discovering and identifying the problem
2) Design: explore decisions
3) Choice: choose solution alternative
4) Implementation: make chosen alternative work and monitor solution

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8
Q

Operational Control

A

executing specific tasks efficiently and effectively

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9
Q

Management Control

A

Acquiring resources efficicently in accomplishing organizations goals

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10
Q

Strategic Planning

A

long-range goals and policies for growth and resource allocation

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11
Q

Managerial Roles

A

expectations of activities that managers should perform. in org (interpersonal, informational, decisional)

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12
Q

Classic Model of Management

A

control work of other, decide things

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13
Q

Contemporary Behavioral Model of Management

A
  • less systemic, more informal, less organized
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14
Q

5 Attributes that Differ from Classical Model

A

1) perform work and unrelenting pace
2) activities are fragmented
3) managers prefer specific necessary info
4) oral communication preferred
5) high priority given to maintaining diverse and complex contacts

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15
Q

Interpersonal Roles

A

-Figurehead (represent company to world, symbolic)
- Leader (motivate, counsel)
- Liaison (maintain network outside org)

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16
Q

Informational Roles

A
  • nerve center of org
  • receive concrete, up-to-date info
  • redistributing info
17
Q

Decisional Roles

A
  • entrepreneurs –> initiate new activities
  • handling disturbances
  • resource allocator
  • negotiator (pivotal role in shaping direction + performance)
18
Q

3 Reasons Info Systems Might not alwasy work

A

1) Info quality
2) management filters
3) org. culture

19
Q

Info quality

A
  • high-quality decisions require high-quality info
    valid, consistent, accurate
20
Q

Management Filters

A
  • managers absorb through filters that make sense to them
  • biases
  • can be feelings based
21
Q

Organizational Culture

A
  • bureaucracies with limited capabilities
  • forces within org resistant to change
  • decisions take balancing various groups, not best decision
  • ignore poor performance until threatened
22
Q

High-Velocity Automated Decision Making

A
  • humans eliminated – too slow
  • software algorithm
23
Q

Business Intelligence

A

infrastructure for collecting, storing, analyzing data produced by business

24
Q

Business Analytics

A

tools and techniques for analyzing data

25
Q

Business Intelligence Vendors

A

create intelligence and analytics, purchased by firm

26
Q

environments (6 elements)

A

1) data from bus envi: organized and integrated to be analyzed
2) business intelligence infrastructure: powerful database system or data warehouse
3) bus analytics toolset: software tools to analyze and predict reports
4) managerial users and methods: oversight to focus attention
5) delivery platform: hard/software tools to integrate delivery info
6) user interface: data vis tools delivering report

27
Q

Predictive Analysis

A

use variety of data, techniques to predict future trends and behaviors
- incorporated into numerous bus. intell. apps for sales, mkt, etc

28
Q

Big Data Analysis

A

massive datasets collected from social media, online, and customer data (help create real-time personalization)

29
Q

Operational Intelligence and Analytics

A
  • business activities monitoring
  • collection and use of data generated by sensors
  • IOT
  • software enables companies to analyze big data
30
Q

Internet of Things

A

creating huge streams of data from web , activities etc

31
Q

Data Visualization and Visual Analytics Tools

A

help users see patterns and relationships that would be difficult in a list

32
Q

Location Analysis

A

gain insight from location component of data

33
Q

Geographic Info System (GIS)

A

ties location data to maps

34
Q

Decisional Support for Operations and Middle Management

A
  • typically charged with monitoring key aspects of business (machine downtime, hrly pay)
  • support for semistructured decisions –> super -users, sensitivity analysis
35
Q

Super-Users (op/middle mgmt)

A

create own reports, been business analytics
- Decision Support System (DSS)

36
Q

Sensitivity Analysis (op/middle mgmt)

A

what if questions are asked repeatedly to predict range of outcomes when 1 or more variables are changed multiple times

37
Q

Decision Support: Senior Management

A
  • help executives focus on important performance info
  • balanced scorecared method
    measures outcomes on 4 dimensions
  • financial, business processes, customer, learning and growth
  • key performance indicators (KPIs0 measure each dimension
38
Q

Group Decision Support System

A
  • interactive system to facilitate solution to unstructured problems
  • specialized hard/software (projector_
  • may require facilitation
  • enables an increase in meeting size and productivity
  • collaboration

BusBis (4 decks)

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