Schermerhorn Chpt 13- Information and Decision Making Flashcards
What is a knowledge worker?
Someone whos value rests with intellect, not physical capabilities
What is ntellectual capital?
The shared knowledge of a workforce that can be used to create wealth
What is an ERP system?
Enterprise Resource Planning system. K
What is BI?
Business Intelligence
What is EAI
Enterprise Applications Integration. Making sure all the different company systems work together. Custom tailor made computer system. Just a server
What quality do knowledge workers have?
They are irreplaceable
What factors does productivity of knowledge and knowledge workers depend on?
- Computer technology competency
- Information competency
What is data?
RAW facts and observation
What is information?
Data made USEFUL for decision making
What are characteristics of useful info?
Useful info is Timely, High Quality, Complete, Relevant, Understandable
Whats the difference btwn ‘intelligence’ info and ‘public’ info.
Intelligence: gathered from stakeholders and external environments
Public: disseminated to stakeholders
What is the value of IT within organizations?
- Facilitates communication and info sharing
- Operating with fewer middle managers
- Flattening of org. structures
- Faster decision making
- increased coordination and control
What is value of IT outside the organization?
- Customer relationship management
- Helps organize supply chain management
- helps monitor outsourcing
How is info exchange with the external environment a two way road?
the organization
- gathers intelligence info
- provides public info
What is MIS?
Management Information System- specifically designed to meet needs of managers in daily decision making
What are managerial advantages of IT utilization?
Planning advantages
- Time acces to useful info
- More people inv. in planning
Organizing Advantages
- more ongoing and informed comms among org parts
- improved coord
Leading advantages
-improved comms with staff and stakeholders
Controlling Advantages
-More immediate measures of performance results
What is performance deficiency vs opportunity?
Whether performance is less or more than desired performance.
What are different styles and approaches to problem solving?
Avoiders: inactive in info gathering and solving problems
- Solvers: Reactive in gathering info and solving problems
- Seekers: Proactive in anticipating problems and opportunities and taking appropriate action to gain advantage
What Systematic and intuitive thinking? How do they interact?
Systematic: -Rational, step by step, analytical Intuitive: Flxible & Spontaneous Multidimensional: Combo of both Effective Multidimensional thinking
What are some different cognitive styles?
2^2 square with sensation/ intuitive, and thinker/feeler
Sensation thinkers- emphasize impersonal rather than personal, realistic approach
Intuitive Thinkers- comfortable with abstraction, tend to be idealistic
Intuitive feeler: prefer broad global issues
-Sensation Feelers- emphasize analysis and human relations
What are programmed decisions?
apply solutions available from past experiences to solve structured problems.
What are non-programmed decisions?
Novel solutions to face unique situation. Unstructured problem: ambiguous, info deficiencies
What are rules for crisis decision making?
- Figure out whats going on
- Remember that speed matters
- Remember that slow counts, too
- Respect the danger of the unfamiliar
- Value the skeptic
- Be ready to fight fire with fire
What are different decision environments that one can find themself in
Certain environment- offer complete info abt possible alternative and outcomes
Risk environments- Lack complete info abt action alternatives and consequences
Uncertain environments-Info is so poor that probabilities cannot be assigned to likely outcomes of known action alternatives
What is the 5 step decision making process?
- Identify and define the problem
- Generate and evaluate possible solutions
- Choose a preferred course of action and conduct the ‘ethics double check’
- Implement the decision
- Evaluate results
