ITM 102 Chapter Notes - Chapter 12: Big Data, Balanced Scorecard, Spreadsheet

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 102
• Professor: Shikui Wu

Document Summary

Types of decisions: unstructured decisions are those in which the decision maker must provide judgement, evaluation and insight to solve the problem. The decision-making process: making a decision is a multi-step process consisting of four different stages: Intelligence pro(cid:271)le(cid:373) dis(cid:272)o(cid:448)er(cid:455), (cid:862)(cid:449)hat is the pro(cid:271)le(cid:373)? (cid:863). Design solutio(cid:374) dis(cid:272)o(cid:448)er(cid:455), (cid:862)(cid:449)hat are the possi(cid:271)le solutio(cid:374)s? (cid:863). Choice (cid:272)hoosi(cid:374)g solutio(cid:374)s, (cid:862)(cid:449)hat is the (cid:271)est solutio(cid:374)? (cid:863). Implementation solutio(cid:374) testi(cid:374)g, (cid:862)is the solutio(cid:374) (cid:449)orki(cid:374)g? (cid:863) (cid:862)(cid:272)a(cid:374) (cid:449)e do (cid:271)etter? (cid:863). Managers and decision making in the real world: managerial roles: The classical role of management which describe what managers do, was largely unquestioned for more than 70 years following the 1920s. Five classical functions of management: planning, organizing, coordinating, deciding, and controlling. Behavioural models state that the actual behaviour of managers appears to be less systematic, more informal, more reactive, etc. , than classical approach. Working at an unrelenting pace, fragmented, prefer current information, prefer oral communication, managing diverse web of contacts.