IS300 Chap 12 Note

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tttran1
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IS300 Chap 12 Note
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2011-12-12 19:27:03
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IS300 Chap 12 Note
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Note for Chap 12
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  1. Unstructured decisions
    • Decision maker must provide judgment, evaluation, and insight to solve problem
    • Senior managers: Make many unstructured decisions
  2. Structured decisions
    • Repetitive and routine; involve definite procedure for handling so they do not have to be treated each time as new
    • Operational managers, rank and file employees: Make more structured decisions
  3. Semistructured decisions
    • Only part of problem has clear-cut answer provided by accepted procedure
    • Middle managers: Make more structured decisions but these may include unstructured components
  4. 4 stages of the decision making process
    • 1.Intelligence
    • 2.Design
    • 3.Choice
    • 4.Implementation
  5. Intelligence in decision making process
    Discovering, identifying, and understanding the problems occurring in the organization
  6. Design in decision making process
    Identifying and exploring solutions to the problem
  7. Choice in decision making process
    Choosing among solution alternatives
  8. Implementation in decision making process
    Making chosen alternative work and continuing to monitor how well solution is working
  9. Classical model of management:
    • 5 functions
    • Planning, organizing, coordinating, deciding, and controlling
  10. behavioral models
    Actual behavior of managers appears to be less systematic, more informal, less reflective, more reactive, and less well organized than in classical model
  11. Mintzberg’s 10 managerial roles
    • –Interpersonal roles
    • 1.Figurehead, 2.Leader, 3.Liaison
    • –Informational roles
    • 4.Nerve center, 5.Disseminator, 6.Spokesperson
    • –Decisional roles
    • 7.Entrepreneur, 8.Disturbance handler, 9.Resource allocator, 10.Negotiator
  12. Three main reasons why investments in information technology do not always produce positive results
    • 1.Information quality: High-quality decisions require high-quality information
    • 2.Management filters: Managers have selective attention and have variety of biases that reject information that does not conform to prior conceptions
    • 3.Organizational inertia and politics: Strong forces within organizations resist making decisions calling for major change
  13. Business intelligence
    • Infrastructure for collecting, storing, analyzing data produced by business
    • Databases, data warehouses, data marts
  14. Business analytics
    • Tools and techniques for analyzing data
    • OLAP, statistics, models, data mining
  15. Business intelligence vendors
    Create business intelligence and analytics purchased by firms
  16. Six elements in the business intelligence environment
    • 1.Data from the business environment
    • 2.Business intelligence infrastructure
    • 3.Business analytics toolset
    • 4.Managerial users and methods
    • 5.Delivery platform – MIS, DSS, ESS
    • 6.User interface
  17. Main functionalities of business intelligence (BI) systems
    • 1.Production reports
    • 2.Parameterized reports
    • 3.Dashboards/scorecards
    • 4.Ad hoc query/search/report creation
    • 5.Drill down
    • 6.Forecasts, scenarios, models
  18. Data visualization
    Help users see patterns and relationships that would be difficult to see in text lists
  19. Geographic information systems (GIS)
    Ties location-related data to maps
  20. Management strategies for developing BI and BA capabilities
    • 1.One-stop integrated solution: Hardware firms sell software that run optimally on their hardware; Makes firm dependent on single vendor – switching costs
    • 2.Multiple best-of-breed solution: Greater flexibility and independence; Potential difficulties in integration; Must deal with multiple vendors
  21. Decision-support for senior management
    • Help executives focus on important performance information
    • Balanced scorecard method
  22. Balanced scorecard method:
    • Framework for operationalizing a firm's strategic plan
    • Measures outcomes on four dimensions:
    • 1.Financial
    • 2.Business process
    • 3.Customer
    • 4.Learning & growth
  23. Key performance indicators (KPIs)
    measure each dimension of firm performance proposed by senior mgmt for understanding how well the firm is performing along any given dimension
  24. Business performance management (BPM)
    Translates firm’s strategies (e.g. differentiation, low-cost producer, scope of operation) into operational targets
  25. Drill-down capabilities
    more detailed views of data
  26. Group Decision Support Systems (GDSS)
    • Interactive system to facilitate solution of unstructured problems by group
    • Specialized hardware and software; typically used in conference rooms

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