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Description
Flashcards by Adriana Vincelli-Joma, updated more than 1 year ago
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Created by Adriana Vincelli-Joma
about 5 years ago
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| Question | Answer |
| Components of business process | 1. activities 2. resources 3. facilities 4. information |
| What is information? | -knowledge derived from data -data presented in meaningful context -data processed by summing, ordering, averaging, grouping, comparing, etc. -difference that makes a difference |
| Role of information in business processes | -business processes generate info -info lets us know when we need to make payments for goods and services -info helps us keep track of deliveries -info keeps inventory up to date -info manages business processes |
| How IS supports decision making | -data are important part of IS -data can be transformed into info -info important starting point for decision making -IS support decision making by providing info (raw material) |
| Decision making steps | 1. intelligence gathering 2. alternatives formulation 3. choice 4. implementation 5. review |
| Decisions making levels | 1. operational: day to day activities 2. managerial: allocation and use of resources 3. strategic: broader-scope, organizational issues |
| Decision making structures | 1. structured: formalized and accepted method 2. unstructured: no agreed-on method |
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