IS425Exam1ch2

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tttran1
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204828
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IS425Exam1ch2
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2013-03-04 10:33:03
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Exam ch2
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exam 1 chap2
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  1. Characteristics of Decision Making
    • -Groupthink
    • -Evaluating what-if scenarios
    • -Experimentation with a real system!
    • -Changes in the decision-making environment may occur continuously
    • -Time pressure on the decision maker
    • -Analyzing a problem takes time/money
    • -Insufficient or too much information
    • -Better decisions
    • -Tradeoff: accuracy versus speed
    • -Fast decision may be detrimental
  2. Decision Making
    • -A process of choosing among two or more alternative courses of action for the purpose of attaining a goal(s)
    • -Managerial decision making is synonymous with the entire management process - Simon (1977)
    • -e.g., Planning
    • -What should be done? When? Where? Why? How? By whom?
  3. Phases of the decision process
    • Phase (1) Intelligence
    • Phase (2) Design
    • Phase (3) Choice, and
    • Phase (4) Implementation
    • -(1)-(4): problem solving; (3): decision making
    • -(1)-(3): decision making; (4): problem solving
  4. Decision-making styles
    • -Heuristic versus Analytic
    • -Autocratic versus Democratic
    • -Consultative (with individuals or groups)
  5. Decision Makers
    • -Small organizations
    • -Individuals
    • -Conflicting objectives
    • -Medium-to-large organizations
    • -Groups
    • -Different styles, backgrounds, expectations
    • -Conflicting objectives
    • -Consensus is often difficult to reach
    • -Help: Computer support, GSS, ...
  6. Model
    • -A significant part of many DSS and BI systems
    • -A model is a simplified representation (or abstraction) of reality
    • -Often, reality is too complex to describe
    • -Much of the complexity is actually irrelevant in solving a specific problem
    • -Models can represent systems/problems at various degrees of abstraction
  7. Models can be classified based on their degree of abstraction; type of models:
    • -Iconic models (scale models) – physical replica like a bridge
    • -Analog models – such as organization chart
    • -Mental Models – descriptive, such as cognitive map
    • -Mathematical (quantitative) models
  8. The Benefits of Models
    • -Ease of manipulation
    • -Compression of time
    • -Lower cost of analysis on models
    • -Cost of making mistakes on experiments
    • -Inclusion of risk/uncertainty
    • -Evaluation of many alternatives
    • -Reinforce learning and training
    • -Web is source and a destination for it
  9. Phases of Decision-Making Process
    • -Humans consciously or sub consciously follow a systematic decision-making process - Simon (1977)
    • 1. Intelligence
    • 2. Design
    • 3. Choice
    • 4. Implementation
    • 5. (?) Monitoring (a part of intelligence?)
  10. Decision-Making: Intelligence Phase: 4 steps
    • -1. Problem Identification
    • -2. Problem Classification
    • -Classification of problems according to the degree of structuredness
    • -3. Problem Decomposition
    • -Often solving the simpler subproblems may help in solving a complex problem
    • -Information/data can improve the structuredness of a problem situation
    • -4. Problem Ownership
    • -Outcome of intelligence phase: A Formal Problem Statement
  11. Decision-Making: The Design Phase
  12. Decision-Making: The Choice Phase
  13. Decision-Making: The Implementation Phase

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