Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
44 Cards in this Set
- Front
- Back
Management
|
is a process by which organizational goals are achieved through the use of resources (people, money, energy, materials, space, time).
|
|
Managers have three basic roles:
|
Interpersonal roles: figurehead, leader, liaison
Informational roles: monitor, disseminator, spokesperson Decisional roles: entrepreneur, disturbance handler, resource allocator, negotiator. |
|
Interpersonal roles:
|
figurehead, leader, liaison
|
|
Informational roles:
|
monitor, disseminator, spokesperson
|
|
Decisional roles:
|
entrepreneur, disturbance handler, resource allocator, negotiator
|
|
Decision
|
refers to a choice that individuals and group make among two or more alternatives.
|
|
Decision making
|
is a systematic process composed of three major phases: intelligence, design and choice (Simon 1977), with the implementation phase added later.
|
|
intelligence phase
|
phase 1: What is the problem
|
|
design phase
|
phase 2: what are my options
|
|
Choice phase
|
phase 3: pick an option and decide how to implement it
|
|
Why managers need IT Support
|
-The number of alternatives to be considered constantly increases.
-Decisions must be made under time pressure. -Decisions are more complex. -Decision makers can be in different locations and so is the information. |
|
Highly structured problems
|
are routine and repetitive problems for which standard solutions exist.
Ex: order entry |
|
Unstructured problems
|
are fuzzy, complex problems for which there are no cut-and-dried solutions.
Ex: building a new plant |
|
Semistructured problems
|
are problems in which only some of the decision process phases are structured.
Ex: Loan approval |
|
nature of decisions
|
operational control
management control strategic control |
|
operational control
|
executing specific tasks efficiently and effectively
(and management control and strategic control = nature of decisions) |
|
management control
|
acquiring and using resources efficiently in accomplishing organizational goals
(and operational control and strategic control = nature of decisions) |
|
strategic planning
|
the long range goals and policies for growth and resource allocation
(and operational control and management control = nature of decisions) |
|
two dimensions that go into decision making
|
1. problem structure
2. the nature of decisions |
|
The Decision Matrix, where do Lower and middle level managers fall and professional staff and senior executives fall?
|
Lower Level- 1,2,4
Middle Level/Professional staff- 3,5,7 Senior Executives- 6,8,9 |
|
What is Business Intelligence?
|
referes to applications and technologies for consolidating, analyzing, and providing access to vast amounts of data to help users make better business and strategic decisions
|
|
The scope of business intelligence with smaller organizations use
|
excel spreadsheets
|
|
The scope of business intelligence with larger organizations use
|
Data mining, predictive analytics, dashboards
|
|
The development of a single or a few related BI applications
|
-the BI target is often a point solution for a departmental need, ex, campaign management in mkting. Orgs usually create a "data mart" to store the necessary data
|
|
Development of infrastructure to support enterprisewide BI
|
This BI target supports current and future BI needs. "Enterprise data warehouse"
Sponsorship, approval, funding at senior management |
|
Support for Organizational Transformation
|
with this target, BI is used to fundamentally transform the ways in which a company competes in the marketplace. BI supports a new business model and enables the business strategy.
uses data warehouse "enterprise data warehouse" Sponsorship, approval, funding at the highest organizational levels |
|
Multidimensional Analysis or Online Analytical Processing (OLAP)
|
(1) Provides users with a look at what is happening or what has happened.
(2) Allows users to analyze data in such a way that they can quickly answer business questions. "slicing and dicing" data stored in dimensional format, drilling down the data to greater detail, and aggregating the data |
|
Data mining
|
refers to the process of searching for valuable information in a large database, data warehouse, or data mart.
-Data mining performs two basic operations: 1. Predicting trends and behaviors; 2. Identifying previously unknown patterns and relationships. |
|
Decision Support Systems
|
Business Inteeligence systems that combine models and data in an attempt to solve semistructured and some unstructured problems with extensive user involvement.
|
|
Decision Support System capabilities
|
Sensitiviy analysis
What-if analysis Goal-seeking analysis |
|
Sensitivity analysis
|
is the study of the impact that changes in one (or more) parts of a model have on other parts.
Sensitiviy analysis What-if analysis Goal-seeking analysis |
|
What-if analysis
|
is the study of the impact of a change in the assumptions (input data) on the proposed solution.
Sensitiviy analysis What-if analysis Goal-seeking analysis |
|
Goal-seeking analysis
|
is the study that attempts to find the value of the inputs necessary to achieve a desired level of output.
Sensitiviy analysis What-if analysis Goal-seeking analysis |
|
A dashboard
|
a BI application that:
Provide rapid access to timely information. Provide direct access to management reports. Are very user friendly and supported by graphics. |
|
Bloomberg Terminal
|
a privately help company, provides a subscription service that sells financial data, software to analyze these data, trading tools, and news (electronic, print, tv, radio)
|
|
The management cockpit
|
is a strategic management room that enables top-level decision makers to pilot their businesses better.
The environment encourages more efficient management meetings and boosts team performance via effective communication. Key performance indicators and information relating to critical success factors are displayed graphically on the walls of the meeting room. External information can be easily imported to the room to allow competitive analysis. |
|
Data visualization
|
is the process of presenting data to users in visual formats, thereby making IT applications more attractive and understandable to users.
-geographic information systems -reality mining |
|
Geographic information systems GIS
|
a computer-based system for capturing, integrating, manipulating, and displaying data using digitized maps.
-every record or digital object as an identified geographical location, this process is called geocoding, enabling users to generate info for planning, problem solving, and decision making-- making it easier for managers to visualize the data |
|
Reality mining
|
using GIS and GPS together produce a new type of technology, reality mining, allowing analysts to extract info from the usage patterns of mobile phones and other wireless devices.
|
|
Corporate performance management (CPM)
|
is involved with monitoring and managing an organization's performance according to key performance indicators, ex. revenue, return on investment, overhead, operational costs.
For online businesses, CPM includes additional factors ex. number of page views, server load, network traffic, and transactions per second |
|
Business intelligence
|
a broad category of applications, technologies, and processes for gathering, storing, accessing, and analyzing data to help business users make better decisions
|
|
management
|
a process by which organizational goals are achieved through the use of resources
|
|
models (in decision making)
|
Simplified representations, or abstractions, of reality
|
|
productivity
|
the ratio between the inputs to a process and the outputs from that process
|