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  • Lecture 4 Intro To Bus & MGMNT 2010 (Compatibility Mode)

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    The document discusses decision making processes and the role of information technology. It provides 5 key points: 1. Data is raw facts while information is data made useful for decision making. Information drives management functions and should be timely, high quality, complete, relevant and understandable. 2. Information technology facilitates communication, information sharing, and faster decision making while allowing organizations to operate with fewer managers and flatter structures. 3. A business environment can be certain, risky, or uncertain, and problems can be structured or unstructured, influencing the type of decisions made. 4. The decision making process involves finding problems, generating alternatives, making decisions, implementing them, and evaluating results. 5.

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    Introductory IBM

    Original Title

    Lecture 4 Intro to Bus & Mgmnt 2010 [Compatibility Mode]

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    The document discusses decision making processes and the role of information technology. It provides 5 key points: 1. Data is raw facts while information is data made useful for decision making. Information drives management functions and should be timely, high quality, complete, relevant and understandable. 2. Information technology facilitates communication, information sharing, and faster decision making while allowing organizations to operate with fewer managers and flatter structures. 3. A business environment can be certain, risky, or uncertain, and problems can be structured or unstructured, influencing the type of decisions made. 4. The decision making process involves finding problems, generating alternatives, making decisions, implementing them, and evaluating results. 5.

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    © All Rights Reserved
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    21 views10 pages

    Lecture 4 Intro To Bus & MGMNT 2010 (Compatibility Mode)

    Uploaded by

    hagdinclooble
    The document discusses decision making processes and the role of information technology. It provides 5 key points: 1. Data is raw facts while information is data made useful for decision making. Information drives management functions and should be timely, high quality, complete, relevant and understandable. 2. Information technology facilitates communication, information sharing, and faster decision making while allowing organizations to operate with fewer managers and flatter structures. 3. A business environment can be certain, risky, or uncertain, and problems can be structured or unstructured, influencing the type of decisions made. 4. The decision making process involves finding problems, generating alternatives, making decisions, implementing them, and evaluating results. 5.

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    of 10

    Lecture 4

    Information, Information Technology and Decision Making Process 1. Data and Information 2. Implication of IT in Organization 3. Link of Business Environment in Decision 4. Model of Decision Making Process 5. Rationality in Decision Making

    Data and Information


    What is useful information? Data.
    Raw facts and observations.

    Information. Data made useful for decision making. Information drives management functions. Characteristics of useful information: Timely. High quality. Complete. Relevant. Understandable.

    Data vs Information
    Information Technology
    Processing data Analyze information Decision making

    Data

    Information

    Quantitative Qualitative

    Implication of IT in Organization
    1. Facilitation of communication and

    information sharing.
    2. Operating with fewer middle managers. 3. Flattening of organizational structures. 4. Faster decision making. 5. Increased coordination and control.

    How IT Breaks Barriers


    People, teams and departments are better connected by IT Organizations are flatter as IT replaces management levels

    Suppliers IT
    break barrier

    Customers

    Supply chain management is improved by IT connections

    Strategic Partners

    Customer relationship management is improved by IT connections

    More things are done by outsourcing and partnerships using IT

    Link of Business Environment to Decision


    Certain environment P = 0 or 1 Risk environment P = between 0 - 1 Uncertain environment P = unknown

    Low

    Risk of failure

    High

    Structured

    Type of problems

    Unstructured

    Programmed

    Type of decisions

    Non-programmed

    Model of Decision Making Process

    Find Problem

    Generate alternatives

    Make decision

    Implement decision

    Evaluate result

    Find Root cause

    Evaluate alternatives

    Find potential problem

    Find Problem

    Generate alternatives

    Make decision

    Implement decision

    Evaluate result

    Rationality in Decision Making


    Classical Model
    Structured problem Clearly defined Certain environment Complete information All alternatives and consequences known Optimizing Decision Choose absolute best among alternatives
    Unlimited information (Researcher Mindset)

    Behavioral Model
    Unstructured problem Not clearly defined Uncertain environment Incomplete information Not all alternatives and consequences known Satisficing Decision Choose first satisfactoryalternative

    Rationality Acts in perfect world Manager as decision maker Bounded rationality Acts with cognitive limitations Act in real world
    Limited information due to Time, Resource, Competency (Manager Mindset)

    Masalah yang Aku Hadapi


    Mendesak Tidak mendesak

    K1
    Penting

    K2

    K4
    Tidak Penting

    K3

    What is a Case?
    1. A case is a business situation requires you to make a decision 2. You have to use systematic thinking so that it can be understood easily by other people Follow Decision Making Model 3. In your analysis, use data in your case, business concept/model, and your experience

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