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
What are the outputs from an MIS
-Scheduled report:
A report produced periodically or on a schedule
-Demand report:
A report developed to get certain information at someone’s request
-Exception report:
A report is automatically produced when a situation is unusual or requires management action
-Drill down reports:
A report providing increasingly detailed data about a situation
Mention the characteristic of an MIS
-Provide reports with fixed and standard formats
-Produce hard-copy/soft copy reports
-Use internal data stored in a computer system
-Allow users to develop custom reports
-Require user requests for reports developed by systems personnel
List the various types of MIS
-Financial MIS
-Human resource MIS
-Manufacturing MIS
-Marketing MIS
Define an executive support system (ESS/EIS)
Specialized DSS that includes all hardware, software, data, procedures and people used to assist senior-level executives within the organisation
What are the characteristic of an ESS?
-Tailored to individual companies
-Easy to use
-Has drill-down capabilities
-Support the need for external data
-Can help with situations that have a high degree of uncertainty
-Is future-oriented
What are the capabilities of an ESS?
-Support for defining an overall vision
-Support for strategic organizing and staffing
-Support for strategic control
-Support for crisis management
What are the subsystems of the marketing MIS
-Marketing research
-Product development
-Promotion and advertising
-Product pricing
-Sales analysis
Define outplacement
A service provided by organisations to support employees who are leaving the company
Define a decision support system
An organized collection of people, people , software, databases and devices used to help make decisions that solve problems
