...Discussion 1: Decision support system refers to the computer applications which help in analyzing the business data so as to facilitate the business decision process. For example, it helps in carrying out the comparative analysis of the sales figures for the specific period of time, forecasting the demand, projecting the project revenues, identifying workers productivity and analyzing different decisions with respect to its consequences. It presents the information in the graphical form and may include expert systems like artificial intelligence. It is an interactive software based system which helps in compiling huge amount of information such that the information helps in taking decisions, better learning and timely problem solving. References: 1. http://www.informationbuilders.com/decision-support-systems-dss 2. http://searchcio.techtarget.com/definition/decision-support-system Discussion 2: Management Information System (MIS) and Decision Support System (DSS) are two important terms of business management. MIS helps linking various disciplines in the business and assist in building the communication among the corporate people, while DSS includes analyzing the data so as to reach the effective and efficient decisions. MIS includes gathering of information and facilitates the planning process pertaining to several functions of management. On the other hand, DSS focuses on leadership and provides innovative vision to the management by enabling them to analyze...
Words: 639 - Pages: 3
...want the processes to stay the same or you want them to be completely different or in a different way. Business Strategy: customer, product, WP (how we do it and where we want it to go). Information System Strategy: integration of systems. 7 wastes: overproduction, unnecessary transportation, excess motion, waiting, inappropriate processing, unnecessary inventory, and defects. Analyzing WP: Coordination, Decision making, Communication, Information Processing, Physical Activities. Phases of decision making: Defining the decision problem, gathering information, analyzing the situation, defining alternatives, selecting the alternative, implementing the decision. TQM vs BPR: incremental change vs radical process overhaul. ERP: designed for supporting activities with multi-module application software in a top down approach. ERP driving change: Appropriate-enterprise just starting out, business processes are not source of competitive advantage, enterprise is in crisis (no other choice). Inappropriate- business processes source of competitive advantage, SW features do not fit enterprise need, lack of upper management support. Promise of ERP: to provide seamless integration of info flowing through a company allowing workers to locate info they need, when they need to without much difficulty. ERP failure: don’t reconcile the technological imperatives of the system with the business needs of the enterprise-forces companies toward full integration, system imposes its own logic on the company’s...
Words: 2568 - Pages: 11
...Portada Management information systems managing the digital firm Part One. Organizations, Management, and the Networked Enterprise ....1 Chapter 1. Managing the Digital Firm ....2 Opening Case: DaimlerChrysler's Agile Supply Chain ....3 1.1 Why Information Systems? ....4 Why Information Systems Matter 4 • How Much Does IT Matter? 6 • Why IT Now? Digital Convergence and the Changing Business Environment ....7 1.2 Perspectives on Information Systems ....13 What Is an Information System? ....13 Windows on Organizations: Cemex: A Digital Firm in the Making ....14 Window on Technology: UPS Competes Globally with Information Technology ....17 It Isn't Just Technology: A Business Perspective on Information Systems 18 • Dimensions of Information Systems ....20 1.3 Contemporary Approaches to Information Systems ....25 Technical Approach 26 • Behavioral Approach 26 • Approach of This Text: Sociotechnical Systems ....27 1.4 Learning to Use Information Systems: New Opportunities with Technology ....27 The Challenge of Information Systems: Key Management Issues 28 • Integrating Text with Technology: New Opportunities for Learning ....30 Make IT Your Business ....31 Summary, 31 • Key Terms, 32 • Review Questions, 32 • Discussion Questions, 33 • Application Software Exercise: Database Exercise: Adding Value to Information for Management Decision Making, 33 • Dirt Bikes USA: Preparing a Management Overview of the Company, 33 • Electronic Commerce Project: Analyzing Shipping...
Words: 3823 - Pages: 16
...more data at first, and then involve the knowledge to improve our decision, which I do agree with. Big data gives traditional businesses chances to transform their old way to newer, profitable way, like on-line business, which is much more powerful than the past. And analyzing of big data will also change long-standing ideas about the value of experience, the nature of expertise, and the practice of management, which is very meaningful for developing business in the future---the high technology world. What’s more, the article points out that there are three major differences between analytics and Big data. Firstly, Big data’s volume is much bigger than analytics, which will give companies information about the decision. Secondly, the speed of spreading of data in these days is a more important criterion for a company to be much more agile than its competitors. Finally, Big data could spread through a lot different ways, such as social networks, sensors, and even cell phones. All the data in each way will update every second to everywhere. In sum, these differences make big data become a huge, fast and variety resource for business, even everyday life. So we should take big data seriously. This article also figures out that the importance to be a data-driven company, which will perform better on objective measures of financial and operational results, especially leading to accurate predictions and better decisions. But we should consider one thing with both sides. Big data doesn't mean...
Words: 911 - Pages: 4
...my role in it. | Problem Statement | How is any problem identified & analyzed, and how effectively are decisions taken, necessary changes communicated & implemented, to avoid any repercussions? | Analysis | Detailed analysis of the problem statement. * Identification & Analysis of a problem * Effective Decision Making * Identifying and Implementing Changes * Communications | Solutions | Identification and critical evaluation of potential workable solutions to the problem. | Reflection | Statement about how this assignment influenced my personal, academic, and professional leadership and managerial development. | References & Literature Review. | Reference to Scholarly reviews during the analysis. | * Overview of the Organization: (Source: Google Images) The Organization that will be the topic of discussion for this project paper is J.P.Morgan Chase & Co. & Co. (India operations are under J.P. Morgan Services India Private ltd). J.P. Morgan Chase & Co. is a leader in financial services, offering solutions to clients, in more than 100 countries with one of the most comprehensive global product platforms available. Headquartered in New York, the aim of this company is to be the World’s most trusted and respected financial services institution. J.P.Morgan Chase & Co.'s activities are organized, for management reporting purposes, into six business...
Words: 4511 - Pages: 19
...Problem Solution: Best Snacks Inc. Best Snacks Inc. has held the number one or the number two position in the snack arena giving outstanding and protected earnings for their investors. In the past two years, sales have dropped radically, the market shares have decreased and stock prices were spiraling down. The Vice President of Organizational Development, Sabrina McKay is a valuable asset with extraordinary expertise that includes several organizational development initiatives. However, due to the severity of Best Snack’s situation, the company has been forced to assess the likes and dislikes of their components in order to compete with success. Best Snacks will need to engage their stakeholders throughout the process and will have to make innovation and creativity a part of everyday life at the company. Describe the Situation Issue and Opportunity Identification In order for Best Snacks to regain its firm stand in the snack food industry they will have to tackle the issues there are currently facing. Such as, the decline in sales, market share decreases resulting in their stock prices dropping significantly, the possibility of losing their long-term popular place in the snack food industry due to the lack of their innovation and creativity. Best Snacks has the chance to integrate in a cultural change program aimed to increase employees’ creative thinking skills resulting in their increase in innovation and creativity at work. By doing this, Best Snacks would open up new...
Words: 3410 - Pages: 14
...can be very overwhelming. According to Paul & Edler, “Critical thinking is the art of analyzing and evaluating thinking with a view to improving” (p. 4). Retaining employees who use critical thinking skills in the workplace is vital for an organization to be successful. Critical thinking helps to improve the decision making process that occurs in the workplace. When staff use critical thinking skills they are better equipped to rationalize the situation presented and deal with it accordingly. When a person can identify, analyze, and evaluate a problem before creating a solution they are thinking critically. This paper will explore critical thinking in the workplace and how thinking challenges can obscure the process of critical thinking. Most people process their thinking based on how and where they were raised, their religious beliefs, values, and ethics. Critical thinking involves analyzing and evaluating ones thoughts while eliminating all the biases one may have acquired overtime. When critical thinking skills are practiced in the workplace mistakes are normally at a minimal. Critical thinking allows employees to make decisions in a clear and concise manner. In the workplace today, most organizations are successful as a result of employing personnel who possess critical thinking skills or by training staff on these skills. Employees who think critically and make good decisions are those who avoid the common thinking challenges. Misthinking, enculturation, and self...
Words: 979 - Pages: 4
...Examination Paper Principles and Practice of Management Section A: Objective Type (30 marks) Part one: Multiple Choices: 1. A plan is a trap laid to capture the ________. Ans.: A) Future 2. It is the function of employing suitable person for the enterprise Ans.: B) Staffing 3. ___________ means “ group of activities & employees into departments” Ans.: D) Departmentation 4. This theory states that authority is the power that is accepted by others Ans.: A) Acceptance theory 5. It means dispersal of decision-making power to the lower levels of the organization Ans.: A) Decentralization 6. This chart is the basic document of the organizational structure Ans.: C) Master Chart 7. Communication which flow from the superiors to subordinates with the help of scalar chain is known as Ans.: B) Downward communication 8. Needs for belongingness, friendship, love, affection, attention & social acceptance are Ans.: D) Social Needs 9. A management function which ensures “jobs to be filled with the right people, with the right knowledge, skill & attitude” Ans.: A) staffing defined 10. It is a process that enables a person to sort out issues and reach to a decisions affecting their life Ans.: D) Counseling Part Two: 1. Differentiate between ‘Administration’ and ‘Management’. Ans.: According to Oliver Sheldon, Administration is the function in industry concerned with the determination of the corporate policy, the co-ordination of finance...
Words: 2039 - Pages: 9
...| Business SchoolAssignment Cover Sheetfor online submission of assignments | Please complete all the following details and then make this sheet the first page of each file of your assignment – do not send it as a separate document. Your assignments must be submitted as either Word documents (with .doc extension, NOT.docx), text documents with .rtf extension or as .pdf documents. If you wish to submit the assignment in any other file format please discuss this with your lecturer well before the assignment submission date. Student Name: | Chen ZhiQing | Student ID No.: | 22012511 | Unit Code & Name: | MNG91002 | Campus: | MDIS | Tutor’s Name: | Frankie-Lim | Assignment No: | 1 | Assignment Title: | Case Analysis Research – Striving for Best Academic Practice | Word Count: | 1193 | Due Date: | 21 Apr 2014 | Date submitted: | 20 Apr 2014 | Declaration: I declare that this assignment is my own original work and has not been submitted for assessment elsewhere. I acknowledge and irrevocably agree that the assessor of this assignment may, for the purpose of assessing this assignment: * Reproduce this assignment and provide a copy to another member of faculty for review and comment, including whether the work is an original work; and/or * Provide a copy of this assignment to a plagiarism checking service for review so that it may determine whether the assignment is an original work. The checking service may retain a copy of the assignment on...
Words: 1822 - Pages: 8
...Decision making 1. What are the different types of decisions and how does the decision-making process work? There are 3 different types of decisions, which are Unstructured, Structured, and Semi-Structured. For Unstructured decision making managers must provide judgment, evaluation, and insight to solve problem. The made decision depends on the individual making it. In a Structured decision repetition and routines are applied for each decision that is made. These decisions have a procedure for handling a situation so that it does not have to be approached as a new situation upon accurance. Structured takes away stress from the manangers as they do not have to make difficult decisions. But, managers also lose some of their power with this decision making process. Semi-structured allows the manager to use past situations for current problems, but also has the flexibility to emphasize using own judgement. 2. How do information systems support the activities of managers and management decision making? Information systems can assist in making decisions by providing information and tools for analysis. To manage situations effieciently and effectively, organiztions use Management Information Systems, MIS, to process information. Individuals, technology, and informationManagement information systems involve three primary resources people, technology, and information. Management information systems are distinct from other information systems in that they are used to analyze...
Words: 524 - Pages: 3
...Good management is the foundation of all organizations success. As identified by Robert Katz, there are 3 core skills managers should possess. They are “Technical”, “Interpersonal “and “Conceptual” skills. Technical, requires having the technique, knowledge, proficiency and the ability to execute them correctly. Interpersonal, pertains to the ability to interact and to efficiently manage people. Conceptual, allows a manager to visualize the situation as a whole, at the same time, to have the ability to tackle decisions and problem solving dynamically. After analyzing Starbucks, we understand that Howard Shultz, being the top management, exhibits more of “Conceptual Skills” and "Interpersonal Skills". Being the Chief Strategist of Starbucks, Howard expend most of his time formulating new ideas, planning for expansion and solving problems that arises within and beyond his organization. With this in mind, we reference to the incident when Howard Schultz visited Milan’s coffee bar during a business trip. His conceptual skills led him to envision and eventually fulfill the concept of espresso bar in the United States. At the same time it empowers him in forming strategic plans, exploring potential opportunities and making positive decision that benefits the company. Not forgetting, at the same time, Howard Shultz displayed great interpersonal skills too. His attitude and care towards his employees motivated them. His implementation of various pro-employee benefits resulted in...
Words: 503 - Pages: 3
...Simon Jose Al hajj Mr Nazih Jurr Bad 429 – Operations Management 12 June 2012 Question 1 Analyzing the data in the table proves that not all the audience is satisfied with what is offered while attending a football game. Several complaints were recorded on different matters. Some complained about parking and traffic, others about the seating and that the stadium needs re-innovation because it became old. Most of the people surveyed were students, staff and alumnus, overall they constituted 209 from the 250 people surveyed. Other than the specific questions asked in a survey, people left numerous comments concerning anything they liked or that made their visit an unpleasant one. Some of the comments left: parking a mess, not enough traffic cops, crowded, bad seats, the stadium is ancient, lines are awful, seats stink, great food and friendly ushers. The examples provided demonstrate a statistical sample of the examples given in the table 6.6. Meaning that there are far more complaints than there were accommodations. Moreover, most complaints subjected the poor parking space and traffic in the parking, the ancient quality of the stadium and the seats that were not comfortable to sit in and watch and entire game. Out of the 250 persons surveyed during the games, only 90 gave a full grade for the parking; that is a low 36% on the parking slots while about 80% where annoyed with the traffic that delayed them and lost their time of the game so that they can park their cars...
Words: 919 - Pages: 4
...Running Head: UNIT 2 ASSIGNMENT 1 Geraldine Spinner January 16, 2012 Management Policy and Strategy MT460-01 Unit 2 Introduction to Strategic Management UNIT 2 ASSIGNMENT 2 Strategic management is the set of decision and actions that result in the formulation and implementation of plans designed to achieve a company’s objectives (Pearce, 2010). The concept of the strategic management process is screening ideas, development of mission and setting of objectives, the SWOT analysis, and selection of the best alternative, strategy formulation, Implementation, and lastly control. Strategic is the direction and scope of the organization over the long term. They will achieve advantage for the organization through its configuration of sources within a challenging environment so they will be able to meet the expectation of the stockholders and the demands of the market. Strategy is very important because it helps in establishing objectives after analyzing the internal and external environment. It will also help focus on the aspects that will make the organization able to achieve a competitive edge. When it come to competitive advantages it’ an organizations ability to transform input into goods and services at a maximum profit on a sustained basis...
Words: 648 - Pages: 3
...1． Introduction to the Computerized Accounting Information System 3 2． Information the FA needs---AMIS 3 2.1. Information Content 3 2.2. Accounting Management Information System(AMIS) 4 3． Information the MA needs---ADSS 5 3.1. Information Content 5 3.2. Accounting Decision Support System(ADSS) 5 4． How to Meet the Two Competing Needs 6 5． Conclusion 7 References: 7 How to Establish AMIS and ADSS and Their Integration Introduction to the Computerized Accounting Information System Nowadays, computer and modern information technology have been widely used in accounting. Thus, computerized accounting is creating a good environment for the world’s financial. It was developing rapidly since introduced in 1980s, and was used in nearly 90 percent of company’s financial management. This change from manual mode to computerization is not only in the aspect of dealing and storing ways of accounting information, but also the impact of the theory and application. Computerized accounting has bee applied successfully and sufficiently in various professions. This computer process substituted the manual work of book-keeping, account, reimbursement, and as well as the analysis, forecast and decision making about accounting information, aiming at promoting the financial management and the benefit in economy and modernizing the accounting work. It has four main features. Firstly, the data processing substitutes the traditional manual work...
Words: 1670 - Pages: 7
...business STRATEGIC AND COMPETITIVE ANALYSIS: Methods and Techniques for Analyzing Business Competition 1 © The MindShifts Group Pty Ltd Page 1 of 5 www.mindshifts.com.au STRATEGIC AND COMPETITIVE ANALYSIS: Methods and Techniques for Analyzing Business Competition By Craig Fleisher and Babette Bensoussan (Prentice Hall, 2002) Book Description Given the priority of competitiveness in modern companies, practitioners of competitive or strategic corporate intelligence (CI) need to come to terms with what business and competitive analysis is and how it works. More importantly, they need to be able to convert the wealth of available data and information into a valuable form for decision-making and action. Collected data must be converted into intelligence. This is accomplished through analysis. Strategic and Competitive Analysis comprehensively examines the wide spectrum of techniques involved in analyzing business and competitive data and information including environmental analysis, industry analysis, competitor analysis, and temporal analysis models. It helps business analysts and decision-makers to draw effective conclusions from limited data and to put together information that does not often fit together at first glance. The Analysis Iceberg Strategic management involves all aspects of a business and requires a knowledge and understanding of the environmental impacts on an organization to ensure that correct decisions are made and taken. It is not just about looking at best fit but of...
Words: 319 - Pages: 2
