GMS 200 Lecture 3: GMS200 Ch3

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Olga Tabunshchikova

Document Summary

Roles of information in the management process: managers use information to make decisions. Knowledge and knowledge workers provide a decisive competitive factor in today"s economy. Knowledge worker: someone whose value to the organization rests with intellect, not physical capabilities. )ntellectual capital: shared knowledge of a workforce that can be used to create wealth. What is useful information: data: raw facts and observations. Characteristics of useful information: timely, high quality, complete, relevant, What information needed: gathered from stakeholders and external environment, public )nformation disseminated to stakeholders and external environment (cid:523))nternal-information flows up, down, around, and across organizations(cid:524) )nternal and external information flows are essential to the problem solving and decision-making in organizations. Facilitation of communication and information sharing: operating with fewer middle managers. )nformation system: use of the latest )t to collect, organization, and distribute data for decision-making. Management )nformation system (cid:523)m)s(cid:524): specifically designed to meet the information needs of managers in daily decision-making.