Chapter 9-1managment - Chapter 9 VOCABULARY Data statistics...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 9 VOCABULARY: Data - statistics and other individual facts and observations Information - data presented in a meaningful way that assists decision making Information Technology- uses computers to assist people in gathering, storing and processing information Intelligence Information -taken from external environment, as well as from the stakeholders such as stockholders, suppliers and regulatory agencies Public Information- presented to those outside the organization Information systems- structure that utilizes information technology to gather, systemize and disseminate data in order to make decisions Management Information Systems- use computerized information-processing systems to assist managers in decision making Decision- choice of action taken from among various alternative options Problem Solving- recognizing and finding solutions to problems Systematic Thinking- rational methods of solving problems Intuitive Thinking- spontaneous style, making decisions Multidimensional Thinking- ability to recognize and evaluate many problems at once and how they relate to each other Strategic Opportunities- resolving long-term issues while prioritizing and resolving the everyday problems at a job Structured Problems- problems that can be solved by employing a clear sequence of activities with information that is readily available Programmed Decisions - decisions that a person has already successfully implemented in the past Unstructured Problems- situations that are characterized by incomplete information Nonprogrammed decisions- special solutions created for uncommon situations Crisis Management- courses designed to prepare managers for crises that could compromise an organization’s well-being Risk Environment- setting for a high number of management problems Uncertain Environment- so little information that a manager cannot even assign probabilities of various outcomes occurring Decision Making Process - identify and define the problem, generate and evaluate alternatives, decide on preferred course of action, implement and evaluate Classical Decision Model- when a manager is in a situation with all necessary information and makes decisions rationally, without bias
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/09/2012 for the course MAN 3025 taught by Professor Clevenger during the Spring '08 term at University of Central Florida.

Page1 / 4

Chapter 9-1managment - Chapter 9 VOCABULARY Data statistics...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online