MGMT 300 Chapter 7 Information and
Decision Making
Data is - answersraw facts
Information is data that is made useful in decision making
Information should meet 5 criteria - answersTimely, high-quality, complete, relevant,
and understandable
Internal information is used in - answersimmediate work setting to make decisions and
do daily work
Management information systems - answerscollect, organize, and distribute data for use
in decision making
Data mining - answersthe process of analyzing data to produce useful information for
decision makers
Big data - answersexists in huge quantities and is difficult to process without
sophisticated mathematical and computing techniques
Problems with data mining - answersthe data isnt useful if it isnt properly analyzed
Intelligence Information - answersgathered from stakeholders and external environment
Internal Information - answersFlows up, down, around, and across organizations
Public Information - answersdisseminated to stake holders and external environment
Business intelligence - answerstaps information systems to extract and report data in
organized ways that are helpful to decision makers
Information tapped from Business intelligence - answerscan be competitive information,
big picture information, or function specific information
Executive dashboards - answersdisplay graphs, charts, and scorecards of key
performance indicators and information on a real-time basis
Managers are - answersinformation processors who continually use relationships and
technology to gather, share, and receive information
, Decisional Roles - answersInformation used for entrepreneurship, resource, allocation,
disturbance handling, and negotiation
Interpersonal Roles - answersInformation used for ceremonies, motivation, and
networking
Information Roles - answersInformation sought, received, transferred among insiders
and outsiders
Problem solving involves - answersidentifying and taking action to resolve problems
A decision - answersis a choice among possible alternative courses of action
A performance threat - answersis a situation in which something is obviously wrong or
has the potential to go wrong
A performance opportunity - answersis a situation that offers the chance for a better
future if the right steps are taken
Openness to problem solving - answersManagers differ in how open they are to using
info in problem solving
Can be problem avoiders, problem solvers, or problem seekers
Systematic thinking - answersapproaches problems in a rational and analytical fashion.
(slow and methodological)
Intuitive thinking - answersapproaches problems in a flexible and spontaneous fashion.
(quick jumping from one decision to another using hunches to help guide them)
Multidimensional thinking - answersability to address many different problems at once
Strategic opportunism focuses on long-term objectives while being flexible in dealing
with short-term problems
Cognitive styles - answersare shown by the way individuals deal with information while
making decisions
Sensation Thinkers - answerstend to emphasize the impersonal rather than the
personal and take a realistic approach to problem solving. They like hard "facts," clear
goals, certainty, and situations characterized by high levels of control
Intuitive Thinkers - answersare comfortable with abstraction and unstructured situations.
They tend to be idealistic, prone to intellectual and theoretical positions; they are logical
and impersonal but also tend to avoid details
Decision Making
Data is - answersraw facts
Information is data that is made useful in decision making
Information should meet 5 criteria - answersTimely, high-quality, complete, relevant,
and understandable
Internal information is used in - answersimmediate work setting to make decisions and
do daily work
Management information systems - answerscollect, organize, and distribute data for use
in decision making
Data mining - answersthe process of analyzing data to produce useful information for
decision makers
Big data - answersexists in huge quantities and is difficult to process without
sophisticated mathematical and computing techniques
Problems with data mining - answersthe data isnt useful if it isnt properly analyzed
Intelligence Information - answersgathered from stakeholders and external environment
Internal Information - answersFlows up, down, around, and across organizations
Public Information - answersdisseminated to stake holders and external environment
Business intelligence - answerstaps information systems to extract and report data in
organized ways that are helpful to decision makers
Information tapped from Business intelligence - answerscan be competitive information,
big picture information, or function specific information
Executive dashboards - answersdisplay graphs, charts, and scorecards of key
performance indicators and information on a real-time basis
Managers are - answersinformation processors who continually use relationships and
technology to gather, share, and receive information
, Decisional Roles - answersInformation used for entrepreneurship, resource, allocation,
disturbance handling, and negotiation
Interpersonal Roles - answersInformation used for ceremonies, motivation, and
networking
Information Roles - answersInformation sought, received, transferred among insiders
and outsiders
Problem solving involves - answersidentifying and taking action to resolve problems
A decision - answersis a choice among possible alternative courses of action
A performance threat - answersis a situation in which something is obviously wrong or
has the potential to go wrong
A performance opportunity - answersis a situation that offers the chance for a better
future if the right steps are taken
Openness to problem solving - answersManagers differ in how open they are to using
info in problem solving
Can be problem avoiders, problem solvers, or problem seekers
Systematic thinking - answersapproaches problems in a rational and analytical fashion.
(slow and methodological)
Intuitive thinking - answersapproaches problems in a flexible and spontaneous fashion.
(quick jumping from one decision to another using hunches to help guide them)
Multidimensional thinking - answersability to address many different problems at once
Strategic opportunism focuses on long-term objectives while being flexible in dealing
with short-term problems
Cognitive styles - answersare shown by the way individuals deal with information while
making decisions
Sensation Thinkers - answerstend to emphasize the impersonal rather than the
personal and take a realistic approach to problem solving. They like hard "facts," clear
goals, certainty, and situations characterized by high levels of control
Intuitive Thinkers - answersare comfortable with abstraction and unstructured situations.
They tend to be idealistic, prone to intellectual and theoretical positions; they are logical
and impersonal but also tend to avoid details
