Chapter 8 Flashcards
What are the three stages of the decision making phase
-Intelligence stage
-Design stage
-Choice stage
Explain the intelligence stage
Potential problems or opportunities are identified and defined
Explain the design stage
Alternative solutions to the problem are developed
Explain the choice stage
Requires selecting a course of action
Define problem solving
A process that goes beyond decision-making to include implementation and monitoring stages
Explain the implementation stage
A stage in problem-solving in which a solution is put into effect
What are non-programmed decisions
Decisions that deal with unusual or expectational situations that can be difficult to quantify
Each of these decisions contain unique characteristics and standard rules might not apply to them
Decision support systems hep solve non-programmed decisions
List the various DSS models
-Optimization model
-Satisficing model
-Heuristics
Explain the optimization model
-Finds the best solution that will help the organisation meet its goals and maximise its benefits
Explain satisficing model
-Finds a good but not necessarily the best solution
Explain heuristics
-Commonly accepted guidelines or procedures that usually find a good solution
-It doesn’t guarantee the best solution but aims to find a reasonably good solution efficiently
Define a management information system
An integrated collection of people, procedures, databases, hardware, and software that provides managers and decision-makers with information to help achieve organisational goals
List the internal input data sources of a MIS
-Data warehouses
-TPS and ERP systems and related databases
List the internal output data sources of a MIS
-Internet
-Customers, suppliers, competitors, and shareholders whose data isn’t already captured by the TPS
