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MIS Ch.2

Managerial Decision-making
1) Managers need to analyze large amounts of information 2) Managers mud make decisions quickly 3) Managers must apply sophisticated analysis techniques to make strategic decisions
Decision making process
problem identification, data collection, solution generation, solution test, solution selection, solution implementation
Common company structure
Strategic
Managerial
Operational
Operational level
Employees develop, control, and maintain core business activities required to run the day to day operations (internal/functional, structures, short term, information)
Managerial level
Employees are continuously evaluation company operations to hone the firm’s abilities to identify, adapt to, and leverage change (Internal/cross-functional, daily/monthly/yearly, semistructured, business intel)
Strategic level
Managers develop overall business strategies, goals, and objectives as part of the company’s strategic plan (Long term, Unstructured, knowledge)
Project
Temporary activity a company undertakes to create a unique product, service, or result
Metrics
Measurements that evaluate results to determine whether a project s meeting its goals
Critical success factors (CSFs)
Crucial steps companies perform to achieve their goals and objectives and implement their strategies
Key performance indicators
the quantifiable metrics a company uses to evaluate progress toward critical success factors
Efficiency MIS metrics
MEasures performance of MIS itself (throughput, transaction speed, system availability, info accuracy, response time)
Effectiveness MIS metrics
Measure impact MIS has of business processes and activities (Usability, customer satisfaction, conversion rates, financial)
Benchmarks
Baseline values the system seeks to attain
Benchmarking
A process of continuously measuring system results, comparing those results to optimal system performance, and identifying steps and procedures to improve system performance
Online Transaction Processing (OLTP)
Basic business system that serves the operational level and assists in making structured decisions; operational support
Transaction Processing system (TPS)
Capturing of transaction and event information using technology to process, store, and update; operational support
Source documents
The original transaction record; operational support
Online Analytical Processing (OLAP)
Manipulation of information to create business intelligence in support of strategic decision making; Managerial support
Decision Support systems(DSS)
Models information to support managers and business professionals during the decision-making process; Managerial support
Executive information system (EIS)
A specialized DSS that supports senior level executives within the organization; Granularity, Visualization, digital dashboard; strategic
Granularity
The level of detail in the model or the decision making process
Visualization
Produced graphical displays of patterns and complex relationships in large amounts of data
Digital dashboard
Tracks KPIs and CSFd by compiling information from multiple sources and tailoring it to meet user needs
Artificial intelligence (AI)
stimulates human thinking and behavior
Expert System
Computerized advisory programs that imitate the reasoning processes of experts in solving difficult problems
Intelligent agent
Special-purpose knowledge-based information system that accomplishes specific tasks on behalf of its users
Virtual reality
A computer-simulated environment that can be a simulation of the real world or an imaginary world
Neural Network
Attempts to emulate the way the human brain works
Generic algorithm
An artificial intelligent system that mimics the evolutionary, survival-of-the-fittest process to generate increasingly better solutions to a problem
Model
A simplified representation/abstraction of reality
Customer facing process
Results in a product/service that is received by an organizations external customer
Business facing process
Invisible to the external customer but essential to the effective management of the business
Business Process modeling
The activity of creating a detailed flow chart/process map of a work process showing its inputs, tasks, and activities, in a structured sequence
Business Process model
A graphic description of a process, showing the sequence of process tasks, which is developed for a specific purpose and from a selected viewpoint; as-is process model and to-be process model
As-is process model
Represents the current state of the operation that has been mapped, w/o any specific improvements/changes to existing processes
To-be process model
Shoe results of applying change improvement opportunities to the current as-is process model
Workflow
Includes the tasks, activities, and responsibilities required to execute each step in a business process
Automation
Improves operational business; Process of computerizing manual tasks, making them more efficient and effective and dramatically lowering operational costs
Business Process improvement
Improves Operations; Attempts to understand and measure the current process and make performance improvements accordingly
Streamlining
Improves managerial; simplifying/eliminating unnecessary steps
Bottleneck
Improves managerial; Occurs when resources reach full capacity and cannot handle any additional demands
Redundancy
Improves managerial; Task.activity is unnecessarily repeated
Business process reengineering (BPR)
Improves Strategic; Analysis and redesign of workflow within and between enterprises
Business process management
Future; focuses on evaluating and improving processes that include both person to person workflow and system to system communications

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