Schermerhorn Chpt 13- Information and Decision Making

Question 1

What is a knowledge worker?

Answer 1

Someone whos value rests with intellect, not physical capabilities

Question 2

What is ntellectual capital?

Answer 2

The shared knowledge of a workforce that can be used to create wealth

Question 3

What is an ERP system?

Answer 3

Enterprise Resource Planning system. K

Question 4

What is BI?

Answer 4

Business Intelligence

Question 5

What is EAI

Answer 5

Enterprise Applications Integration. Making sure all the different company systems work together. Custom tailor made computer system. Just a server

Question 6

What quality do knowledge workers have?

Answer 6

They are irreplaceable

Question 7

What factors does productivity of knowledge and knowledge workers depend on?

Answer 7

• Computer technology competency

- Information competency

Question 8

What is data?

Answer 8

RAW facts and observation

Question 9

What is information?

Answer 9

Data made USEFUL for decision making

Question 10

What are characteristics of useful info?

Answer 10

Useful info is Timely, High Quality, Complete, Relevant, Understandable

Question 11

Whats the difference btwn ‘intelligence’ info and ‘public’ info.

Answer 11

Intelligence: gathered from stakeholders and external environments

Public: disseminated to stakeholders

Question 12

What is the value of IT within organizations?

Answer 12

• Facilitates communication and info sharing
• Operating with fewer middle managers
• Flattening of org. structures
• Faster decision making
• increased coordination and control

Question 13

What is value of IT outside the organization?

Answer 13

• Customer relationship management
• Helps organize supply chain management
• helps monitor outsourcing

Question 14

How is info exchange with the external environment a two way road?

Answer 14

the organization

• gathers intelligence info
• provides public info

Question 15

What is MIS?

Answer 15

Management Information System- specifically designed to meet needs of managers in daily decision making

Question 16

What are managerial advantages of IT utilization?

Answer 16

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

Question 17

What is performance deficiency vs opportunity?

Answer 17

Whether performance is less or more than desired performance.

Question 18

What are different styles and approaches to problem solving?

Answer 18

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

Question 19

What Systematic and intuitive thinking? How do they interact?

Answer 19

Systematic:
-Rational, step by step, analytical
Intuitive: Flxible & Spontaneous
Multidimensional: Combo of both
Effective Multidimensional thinking

Question 20

What are some different cognitive styles?

Answer 20

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

Question 21

What are programmed decisions?

Answer 21

apply solutions available from past experiences to solve structured problems.

Question 22

What are non-programmed decisions?

Answer 22

Novel solutions to face unique situation. Unstructured problem: ambiguous, info deficiencies

Question 23

What are rules for crisis decision making?

Answer 23

• 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

Question 24

What are different decision environments that one can find themself in

Answer 24

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

Question 25

What is the 5 step decision making process?

Answer 25

• 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