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bus 205 final
bus 205 final (enhancing knowledge & enhanced decision making)
| Question | Answer |
|---|---|
| the set of processes developed in an organization to create, gather, store, maintain, transfer, apply, and disseminate the firm's knowledge | knowledge management |
| important dimensions of knowledge | knowledge is: a firm asset, has different forms, has a location, and is situational |
| an intangible asset; requires organizational resources; experiences network effects as its value increases as more people share it | knowledge is a firm asset |
| can be either tacit or explicit; involves knowing how to follow procedures & knowing why, not simply when, thing happen | knowledge has different forms |
| its a cognitive event involving mental models and maps of individuals; has both a social and an individual basis of knowledge | knowledge has a location |
| its conditional; its related to context | knowledge is situational |
| stages in the knowledge management value chain | acquire, store, disseminate, apply |
| general-purpose, firmwide efforts that collect, store, distribute, and apply digital content and knowledge | enterprise wide knowledge management systems |
| provide an online directory of corporate experts in well-defined knowledge domains and use communication technologies to make it easy for employees to find the appropriate expert in a company | knowledge network systems |
| help discover patters and apply knowledge to discrete decisions and knowledge domains. | intelligent techniques |
| capture the knowledge of skilled employees in the form of a set of rules in a software system that can be used by other organizations | expert systems |
| expert systems model human knowledge as a set of rules that collectively are called ? | the knowledge base |
| the strategy used to search through the collection of rules and formulate conclusions is called? | inference engine |
| how does the inference engine work? | it searches through rules and "firing" the rules triggered by facts and entered by the user |
| why are expert systems important to business? | they help organizations make high-quality decisions with fewer people |
| what does senior management deal with? | unstructured decisions |
| what does middle management deal with? | semistructured decisions |
| what does operational management deal with? | structured decisions |
| decisions where the decision maker must provide judgement, evalutation, and insight to solve the problem | unstructured decisions |
| repetitive and routine, and they involve a definite procedure for handling them so that they dont have to be treated each time as if they were new | structured decisions |
| have elements of both structured and unstructured decisions. only part of the problem has a clear cut answer decided by an accepted procedure | semistructured decisions |
| stages in the decision making process | gathering intelligence, design, choice, implementation |
| consists of discovering, identifying, and understanding the problems occurring in the organization | intelligence |
| involves identifying and exploring various solutions to the problem | design |
| consists of choosing among solution alternatives | choice |
| involves making the chosen alternative work and continuing to monitor how well the solution is working | implementation |
| 5 functions of classical managerial model | planning, organizing, coordinating, deciding, and controlling |
| this model suggests that managerial behavior is less systematic , more informal, less reflective, more reactive, less well-organized, and somewhat frivolous | behavioral managerial model |
| the infrastructure for warehousing , integrating, reporting, and analyzing, data from the business environment. it collects, stores, cleans, and makes relevant info available to managers | business intelligence |
| focuses on the tools and techniques for analyzing and understanding data and info. | business analytics |
| structured and unstructured data from many different sources , that are integrated and organized so that they can be analyzed and used by human decision makers | data from the business environment |
| powerful database systems that capture relevant data stored in transactional databases or are integrated into and enterprise data warehouse or interrelated data marts | business intelligence infrastructure |
| software tools used to analyze data and produce reports, respond to managers' questions, and use key indicators of performance to track a business's progress | business analytics toolset |
| Business performance management and balanced scorecard approaches that focus on key performance indicators | managerial uses and methods |
| One suite of hardware and software tools in the form of a business intelligence and analytics package that integrate information from MIS, DSS, and ESS and disseminate it to the appropriate manager’s desktop or mobile computing device | delivery platform |
| Business analytics software suites emphasize visual techniques such as dashboards and scorecards that can be viewed on mobile computing devices, desktop computers, or web portals | user interface |
| predefined reports based on industry specific requirements | production reports |
| users enter several parameters in a pivot table to filter data and isolate impacts of the parameters | parameterized reports |
| visual tools for presenting performance data as defined by users | dashboards/scoreboards |
| users create their own reports based on queries and searches | ad hoc query |
| the ability to move from a high level summary to a more detailed view | drill down |
| include the ability to perform linear forecasting, what if scenario analysis, and analyze data using standard statistical tools | forecasts |
| Generally, makes structured decisions based on day-to-day operations in the organization; receives most information from transaction reporting systems and some information from MIS systems. | operational management |
| Generally, makes structured decisions and semistructured decisions based on routine products reports from TPS and MIS; use exception reports to determine exceptional conditions upon which they act. | middle management |
| Generally, make semistructured decisions based on information from MIS, DSS, and more sophisticated analytics and models; try to find patterns in data, model alternative business scenarios, or test specific hypotheses. | business analysis |
| Generally, make unstructured decisions based on information from MIS and DSS but more importantly from ESS; use balanced scorecard methods based on key performance indicators that include data on four dimensions of the firm’s performance | executive management |
Created by:
devenmccormick
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