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Using Advanced InformationTechnology to Increase
Performance
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Information and the Managers Job
Data
Raw, unsummarized, and unanalyzed facts.
Information Data that are organized in a meaningfulfashion
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Attributes of Useful Information
Attributes
Quality The accuracy and reliability of availableinformation affects the quality of decisions thatmanagers make using the information.
Timelessness The availability of real-time information thatreflects current conditions allows managers tomaximize the effectiveness of their decisions.
Completeness Complete information allows managers toconsider all relevant factors when making
decisions.
Relevance Having information specific to a situation assistsmanagers in making better decisions.
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Discussion Question
Which factor is most important in affecting
the usefulness of information?
A. Quality
B. Timeliness
C. Relevance
D. Completeness
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Factors Affecting the Usefulness of
Information
Figure 18.1
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What is Information Technology?
Information Technology set of
methods or techniques for acquiring,
organizing, storing,
manipulating, andtransmitting
information
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Question?
What is the specific form of IT that
managers utilize to generate the
detailed information they need to
perform their roles effectively?
A. Management information system
B. Decision support system
C. Decision information system
D. Management support system
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What is Information Technology?
Management Information System
specific form of IT that managers utilize
to generate the specific, detailed
information they need to perform theirroles effectively
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What is Information Technology?
Managers need information for three
reasons:
1. To make effective decisions
2. To control the activities of the organization
3. To coordinate the activities of the
organization
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Information and Decisions
Most of management is about making
decisions
To make effective decisions, managers
need information, both from inside and
outside the organization
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Information and Control
Managers achieve control by:
1. Establishing measurable goals
2. Measuring actual performance
3. Comparing actual performance withgoals
4. Taking any corrective action
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Information and Coordination
Coordination problems that managers
face in managing global supply chains
are increasing
Managers have adopted sophisticated IT
that helps them coordinate the flow of
materials, semifinished goods, and
finished goods throughout the world
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The Effects of Advancing IT
IT revolution began with the
development of the first computers
Modern computers can read, process,
and store billions of instructions per
second
This power forms the foundation of the
ongoing IT revolution
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The Effects of Advancing IT
Products resulting from advancing IT
Powerful microprocessors and PCs, high-
bandwidth wireless smart phones,
sophisticated word-processing software,expanding computer networks, inexpensive
digital cameras, useful online information
and retailing services
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The Effects of Advancing IT
IT helps create new product
opportunities that managers and their
organizations can take advantage of
IT creates new and improved products
that reduce or destroy demand for older,
established products
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IT and the Product Life Cycle
Product Life Cycle
Refers to the way in which the demand for a
product changes in a predictable way over
time
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A Product Life Cycle
Figure 18.2
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A Product Life Cycle
Embryonic stage
Product has yet to gain widespread
acceptance
Customers are unsure what a product has
to offer
Growth stage
Many consumers are buying the product forthe first time
Demand increases rapidly
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A Product Life Cycle
Mature stage
Market peaks because most customers
have already bought the product
Demand is typically replacement demand
Decline stage
Advancing IT leads to the development of a
more advanced product making the old oneobsolete
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A Product Life Cycle
Advances in IT are one of the most
important determinants of the length of a
products life cycle
The shorter the length of a products life
cycle because of advancing IT the more
important it is to innovate products
quickly and continuously