GMS 200 Lecture 4: Information and decision

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Ahmed Mawashi

Document Summary

Knowledge workers provide a decisive competitive factors in todays economy. Knowledge worker: someone whose value to the organization rests with intellect, not physical capabilities. Intellectual capital: shared knowledge of a work force that can be used to cerate wealth. The productivity of knowledge and knowledge workers depends on: computer competency, information competency. Information drives management functions: timely, high quality, complete, relevant, understandable. Helps in monitoring outsourcing and other business contracts. Information exchanges with the external environment: gather intelligence information, provide public information. Information exchanges within the organization: facilitate decision making, facilitate problem solving. Information system :use of the latest it to collect, organize, and distribute data for use in decision making. Management information system: specifically designed to meet the information needs of managers in daily decision making. Planning advantages: better and more timely access to useful information, involving more people in planning, more ongoing and informed communication among all parts of the.