What is the role of information in the management process? How do managers use information to make decisions? What are the steps in the decision-making process? What are the current issues in managerial decision making? | PowerPoint Presentation to Accompany Management, 10/e John R. Schermerhorn, Jr. Prepared by: Jim LoPresti University of Colorado, Boulder Published by: John Wiley & Sons, Inc. Chapter 6: The Decision Making Process Management 10/e - Chapter 6 Planning Ahead — Chapter 6 Study Questions What is the role of information in the management process? How do managers use information to make decisions? What are the steps in the decision-making process? What are the current issues in managerial decision making? Management 10/e - Chapter 6 Study Question 1:What is the role of information in the management process? Information and knowledge — basic linkages: Knowledge and knowledge workers provide a decisive competitive factor in today’s economy. Knowledge worker. Someone whose value to the organization rests with intellect, not physical capabilities. Intellectual capital. Shared knowledge of a workforce that can be used to create wealth. Management 10/e - Chapter 6 . | PowerPoint Presentation to Accompany Management, 10/e John R. Schermerhorn, Jr. Prepared by: Jim LoPresti University of Colorado, Boulder Published by: John Wiley & Sons, Inc. Chapter 6: The Decision Making Process Management 10/e - Chapter 6 Planning Ahead — Chapter 6 Study Questions What is the role of information in the management process? How do managers use information to make decisions? What are the steps in the decision-making process? What are the current issues in managerial decision making? Management 10/e - Chapter 6 Study Question 1:What is the role of information in the management process? Information and knowledge — basic linkages: Knowledge and knowledge workers provide a decisive competitive factor in today’s economy. Knowledge worker. Someone whose value to the organization rests with intellect, not physical capabilities. Intellectual capital. Shared knowledge of a workforce that can be used to create wealth. Management 10/e - Chapter 6 Study Question 1:What is the role of information in the management process? Information and knowledge — basic linkages (cont.) Knowledge and intellectual capital are irreplaceable organizational resources. The productivity of knowledge and knowledge workers depends on: Computer competency. Information competency. Management 10/e - Chapter 6 Figure Internal and external information needs of an organization Management 10/e - Chapter 6 Study Question 1:What is the role of information in the management process? Implications of IT within organizations: Facilitation of communication and information sharing. Operating with fewer middle managers. Flattening of organizational structures. Faster decision making. Increased coordination and control. Management 10/e - Chapter 6 Study Question 1: What is the role of information in the management process? What is useful information? Data. Raw facts and observations. Information. Data made useful for decision making. .
