Essay on Business Management - 1182 Words



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Business Management

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Text Preview Chapter 13: Managing Information and Information Technology

Businesses need information, but they nedd it to be accurate, and they need it to be accessible in a timely fashion.

Information has always been an integral part of every manager's job.

The Role of Information in the Manager's Job

Information is a vital part of communication, it follows that management and information are closely related. A key part of information-processing activity id differentiating between data and information.

Data: are raw figures and facts reflecting a single aspect of reality.

Information: is data presented in a way or form that has meaning. It provides meaning to a manager and provides a basis for action.

Information Technology (IT): Refers to the resources used by an organization to manage information that it needs to carry out its mission. IT may consists of computers, integrated computer networks, telephones, fax machines and other pieces of hardware. It involves software that facilitates the system's ability to manage information in a way that is useful to managers.

Example: The grocery industry uses data, information, and information technology to automate inventory and checkout facilities.

Characteristics of Usesful Information
In general, information is useful if it is accurate, timely, complete and relevant.

For information to be of real value to a manager, it must be accurate information. Accuracy means that the information must provide a valid and reliable reflection of reality. Timely
Information also needs to be timely. It means only that information needs to be available in time for appropriate managerial action.

Information must tell a complete story for it to be useful to a manager. If it is less that complete information, the manager is likely to get an inaccurate or distorted picture of reality. Complete Information: Provides the manager with all the information that he/she needs. Relevant

Relevant Information: According to the needs and circumstances of a particular manager. Example: Operations managers need information on costs and productivity.

Building Blocks of Information Technology
2 types of information technology:
i. Manual
ii. Electronic

All information technology, and the systems that it defines, has five basic parts.

The input medium: The device that is used to add data and information into the system. The processor: The part of the system that is capable of organizing, manipulating, sorting or performing calculations or other transformations with the data. Storage devices: Places where data can be stored for later use. Output medium: Data re transformed into usable information and communicated to the appropriate person Control system: Most often software of one sort or another

Types of Information systems
The information system is a complex of several information systems that share information while serving different levels of the organization, different departments, or different operations.

There are 4 users group:
1. First-line
2. Middle
3. Top managers
4. Knowledge workers

Knowledge workers are specialists, usually professionally trained and certified-Engineers, Scientists, Psychologists- who rely on information to design new products or create new business processes.

First-line (or operational) managers
Need information to oversee the day-to-day details of their department or projects.

Middle managers
Need summaries and analyses for setting intermediate and long-range goals for the department or projects under their supervision.

Top managers
Analyzes broader trends in the economy, the business environment, and overall company performance to conduct long-range planning for the entire organization.

Knowledge workers
Need special information for conducting technical projects.

Major Systems by Level

There are different kinds of systems that provide application at some organizational levels but not... Show More

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