MGT 3010 Chapter 17

information, data

1st step in evaluating information is to ascertain the value of the ____ by pinpoint the ___ to be analyzed.

data, information

2nd step in evaluating information is to determine the cost of the ____ and compare to the expected value of the ____

generating

As with all evaluations of this kind, the primary concern of management should be to weigh the dollar value of the benefit gained from using some quantity of information against the cost of _____ the information.

control process operates

For control to be successful, all individuals involved in controlling must have a working knowledge of how the ___ ____ ___.

satisfaction,ease,use, information

Most important determinant of effectiveness of IS is ____ 2 main factors: the quality of IS (or ____ of ___) and the quality of the _____

Operational control, management control, strategic planning

Name 3 common decision making situations

appropriateness, quality, timeliness, quantity

Name the four primary factors that determine the value of information: 1. Information _____ 2. Information ______ 3. Information ____ 4. Information ___

ability, individuals, manage

The effectiveness of an organization's Information Systems is largely dependent on the ____ of ____ within the organization to properly _____ IS.

Technology

consists of any type of equipment or process that organization members use in the performance of their work.

Control

entails ensuring that an event occurs as it was planned to occur.

Symptom

is a sign that a problem exists.

Controlling

is a systematic effort by business management to compare performance to predetermined standards, plans, or objectives to determine whether performance is in line with these standards and presumably to take any remedial action required to see that human and other corporate resources are being used in the most efficient and effective way possible.

Information appropriateness

is defined in terms of how relevant the information is in the decision-making situation that the manager faces.

Information quantity

the amount of decision-related information managers possess.

Information quality

the degree to which information represents relality

Power

the extent to which an individual is able to influence others so they respond to orders.

Information Technology

is technology such as computers and telecommunication devices that focus on the use of information in the performance of work.

Information timeliness

is the extent to which the receipt of information allows decisions to be mad and action to be taken so that the organization can gain some benefit from possessing the information.

Standard

is the level of activity established to serve as a model for evaluating organizational performance. (can be that of the organization as a whole or that of some individuals within organizations)

Positional, Personal

The total power a manager possess is made up of two different kinds of power: _____ power and ____ power

increase personal power

Ways to ____ ____ ____: 1. a sense of obligation toward the manager 2. A belief that the manager possess a significant level of expertise within the organization 3. A sense of identification with the manager 4. perception that they are dependent on the manager

information, gathering data, data, analyzing, information, using

What are the 6 steps in Operating IS? 1. Determining _____ needs 2. Determining and _______ appropriate ____ 3. Summarizing ____ 4. ______ data 5. Transmitting _____ 6. _____ the information

Personnel development

____ ____ standards include the type of training programs that personnel should undergo in order to properly expand their skill set.

Social responsibility

____ ____ standards indicate the responsibility an organization makes to contributing to society.

Market Position

____ ____ standards indicate the share of total shares in a particular market that an organization would like to have relative to that of its competitor.

Employee attitude

____ ____ standards indicate what types of attitudes managers should strive to inculcate in their employees.

Product Leadership

_____ _____ standards indicate what must be done to attain product innovation in an organization's field of expertise.

Planning, Controlling

_____ and _____ are virtually inseparable functions called the "Siamese Twins of management".

Position Power

is power derived from the organizational position a manager holds.

Information

refers to details about a project or set of conclusions derived from data analysis. In management it refers to set of conclusion derived from analysis of data that relate to the operation of an organization.

Measuring performance, comparing measured performance to standards, taking corrective action

What are the three main steps in the controlling process?

Data

the process of developing information begins with gathering some types of facts or statistics, called ____.

Information overload

too much information can be referred to as "paralysis by analysis" is generally considered the major cause of indecision in an organization.

Operational control

type of common decision making situation that relate to ensuring that specific organizational tasks are carried out effectively and efficiently. (focuses on internal environment)

Management control

type of common decision making situation that relate to obtaining and efficiently and effectively using the organizational resources necessary to reach organizational objectives

Strategic planning

type of common decision making situation that relates to determining organizational objectives and designing the corresponding actions necessary to reach these objectives. (focuses on the external environment)

Assist in Making Decisions

What is the basic purpose of Information Systems (IS)?

Productivity

_____ standards indicate how much various segments of the organization should produce.

Profitability

______ standards in general indicate how much money an organization would like to make over a given period of time.

Problem

any factor within an organization that is a barrier to organizational goal attainment.

Information Systems

is a network of applications established within an organization to provide managers with the information that will assist them in DECISION MAKING. (gives managers continual vital information) Examples: sales, productivity, and labor turn over

Corrective action

is managerial activity aimed at bringing organizational performance up to the level of performance standards.

Personal Power

is power derived from a manager's relationship with others

Evaluating Information

is the process of determining whether the acquisition of specific information is justified.

Authority

is the right to command or give orders

Data contamination

perhaps the most significant factor in producing poor-quality information ___ _____ is inaccurate data gathering can result in information that is of low quality and thus a poor representation of reality.