BCOR 2020 - Final Questions and Answers 100% Verified
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Course
BCOR 2020
Institution
BCOR 2020
tactical (managerial) decision making - about how the organization should achieve the goals and
objectives set by its strategy
operational - affect how the firm runs its day-to-day operations
decision making process - identify and define the problem -> determine the criteria -> determine
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BCOR 2020 - Final
tactical (managerial) decision making - about how the organization should achieve the goals and
objectives set by its strategy
operational - affect how the firm runs its day-to-day operations
decision making process - identify and define the problem -> determine the criteria -> determine
the set of alternative soltions -> evaluate the alternatives -> choose an alternative
common approaches to decision making - tradition, intuition, rules of thumb, using relevant data
challenges of decision making - uncertainties, lots of alternatives
business analytics - the science process of transforming data into insights for making better
decisions
business analytics categories - descriptive analytics, predictive analytics, prescriptive analytics
managers - have the responsibility to plan, coordinate, organize and lead their organizations to
better performance
3 types of decision making - strategic, tactical (managerial), operational
strategic decision making - high level issues concerned with overall direction of the organization
descriptive analytics - encompasses the set of techniques that describe what has happened in the
past (data queries, reports, descriptive statistics, etc)
,what is knowledge? - awareness and understanding of a set of information and the ways it can be
made useful to support a task
what is a process? - a set of logically related tasks performed to achieve a defined outcome
(turning data into information is a process)
information system (IS) - a set of interrelated elements that: collect input, process, store,
disseminate data and info, provides a feedback mechanism
computer based information system (CBIS) - A single set of hardware, software, databases,
telecommunications, people, and procedures that are configured to collect, manipulate, store, and
process data into information.
procedure - defines the steps to follow to achieve a specific end result (such as enter a customer
order, pay a supplier invoice, or request a inventory report)
personal IS - includes information systems that improve the productivity of individual users
group IS - includes information systems that improve communications and support collaboration
among members of a workgroup
enterprise IS - includes information systems that organizations sue to define structured
interactions among their own employees and or external customers, suppliers, government agencies
organization - a group of people that are structured and managed to meet its mission or set of
group goals
value chain - a series of activities that an organization performs to transform inputs into outputs
supply chain - key value chain in a manufacturing organization
, supply chain management - encompasses all the activities required to get the right product into
the right customers hands in the right quantity at the right time and at the right cost
2 types of innovation - sustaining and disruptive
sustaining innovation - results in enhancements to existing products, services, and ways of
operating
disruptive innovation - one that initially provides a lower level of performance than the
marketplace has grown to accept
reengineering (BPR) - involves redesign of business processes, organizational structures,
information systems, and values of the organization to achieve a breakthrough in business results
continuous improvement - constantly seeking ways to improve business processes and add value
to products and services
change management model - -Describes the phases an individual or organization goes through in
making a change
-Provides principles for successful implementation of change
-There are a number of models for dealing with the soft side of implementing change
soft side of implementing change - lewins change model, lewins force field analysis, leavitts
diamond, etc
IS workers - play a pivotal role at the intersection of business and technology
virtual team - A group of individuals whose members are distributed geographically, but who work
as a coherent unit through the use of information systems technology.
variables - vertical columns on an excel sheet
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