After studying this chapter you will be able to: Review the historical development of foreign exchange markets; explain how the foreign exchange rate reflects the demand and supply of goods, services, and assets, and the other flows that make up the balance of payments; explain geographic arbitrage, triangular arbitrage, and intertemporal arbitrage. | Chapter 15 Decision-Making Models and Knowledge Management Outline Learning objectives Information overload Knowledge management Steps for Better Thinking Current topics Learning objectives Discuss and give examples of the concept of information overload, including causes, symptoms, and countermeasures. Explain the nature of decision models and knowledge management. Explain why those two topics are important in the study of accounting information systems. Describe and apply Wolcott and Lynch’s Steps for Better Thinking. Explain fundamental concepts associated with Big Data, data analytics and cloud computing. Information overload Definitions The point at which information incorporated into a decision begins to decline Information supplied exceeds human processing capacity Causes Personal factors Information characteristics Task and process parameters Organizational design Information technology Information overload Selected countermeasures Allow more time to complete important tasks. Compress, aggregate, categorize, and structure information. Formalize the language used to describe information. Handle information as it comes to you—don’t put it off! Use graphs and other visual aids. See the chapter for a full list. Knowledge management Definition The process through which organizations generate value from their intellectual and knowledge-based assets Objectives Create knowledge repositories. Improve knowledge access. Enhance the knowledge environment. Manage knowledge as an asset. Knowledge management Create a supportive organizational culture. Define business goals. Perform a knowledge audit. Create a visual map. To create a knowledge management system (KMS), follow these seven steps: Knowledge management Develop a knowledge management strategy. Purchase or build appropriate tools. Periodically reassess the value of the KMS and adjust accordingly. To create a knowledge management system (KMS), follow these seven steps: Steps for Better Thinking Developmental . | Chapter 15 Decision-Making Models and Knowledge Management Outline Learning objectives Information overload Knowledge management Steps for Better Thinking Current topics Learning objectives Discuss and give examples of the concept of information overload, including causes, symptoms, and countermeasures. Explain the nature of decision models and knowledge management. Explain why those two topics are important in the study of accounting information systems. Describe and apply Wolcott and Lynch’s Steps for Better Thinking. Explain fundamental concepts associated with Big Data, data analytics and cloud computing. Information overload Definitions The point at which information incorporated into a decision begins to decline Information supplied exceeds human processing capacity Causes Personal factors Information characteristics Task and process parameters Organizational design Information technology Information overload Selected countermeasures Allow more time to complete important tasks.
