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63 Cards in this Set
- Front
- Back
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major tasks or responsibilities of managers
operational manager |
in charge of small groups and frontline workers
(ex. foreperson on a shop floor, a department manager in a department store, a manager in a bank or insurance company who is in charge of small unit and authorize to obligate the company for small amounts of money) follow general polices handed down by superiors make decisions that effect the short term ( someone calls in sick) |
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major tasks
tactical management |
also called middle managers receive general directions and goals from their superiors and, within those guidelines, make decisions for their subordinates, affecting the near and somewhat more distant future
usually in charge of several operational managers responsible for finding the best way to accomplish superiors goals |
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major tasks
strategic management |
highest ranking officers of the organization
impact the long run |
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Business Intelligent (BI)
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software that contains statistical models to produce trends and patterns
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controlling and monitoring
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controlling= monitoring and taking action
monitoring = is knowing what is happening |
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data scope
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amount of data from which information is extracted, in terms of the number of organizational units supplying the data or the length of time that data cover
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data source
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where information is coming from
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decision making
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both planing and control call for decision making
the higher the level of management the less routine the managers activities the more open the options the more decision-making involved |
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degree of structure
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structured data= number and facts that can be conveniently stored and retrieved in an orderly manner for operations and decision making
unstructured data= drawn from meeting discussions, private conversations, e-mail, text, instant messaging, grapphical representations and other " nonuniform sources |
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dynamic representation
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moving images that represent either the speed or direction of changes happening in real time
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external and internal sources
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internal- collected within the organization, usually by transactions-processing systems, but also through employe and customer surveys
external- collected from a wide array of sources outside the organization, including mass communications media such as television, radio and newspapers, specialized newsletters published by private organizations, gov agencies, and the cast sources of news and statistics on the web |
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information overload
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a situation in which a person is confused and cannot make optimal decisions
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level of detail
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the degree to which the information genereated is specific. When the derpartment manager looks at the number of shoes sold every day and the week broken down by style, the information is, obviously, very detailed. Operation managers usually consider highly detailed information
Senior managers in contrast, typically consider information that is highly summarized |
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management by exception
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managers review only exceptions from expected results
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matrix management
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replaces a strict hierarchical structure with a flexible reporting structure, whereby people reported to different supervisors depending on the project, product, or location of the work.
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online analytical processing (OLAP)
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applications link managers to data warehouses and enable them to produce useful information such as purchasing trends and fraud patters
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supply chain
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sychronizing activities
rapid information exchange increased coordination and cooperation |
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time span
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refers to how long a period of time the data cover
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customer relationship management (CRM) system
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Decision support system (DSS)
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what if analysis
business intelligence software |
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executive information system(EIS)
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provides rapid access to information
supported by graphics "drill-down" capabilities management cockpit multi-media compatible with " Balanced scorecard" concept |
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expert system (ES)
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mimica human expertise by manipulating
inference rules ( if-then statement) |
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transaction processing system (TPS)
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capture data at the source for producing useful information
process payments for services purchase of raw materials, etc.. |
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reduce costs
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automation may lower costs
the web my help lower costs lower costs may enable lower prices lower price my increase market share |
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raise barriers to market entrants
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legal protection
-patents and copyrights expense or expertise -capital investment -information technology |
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establish high switching costs
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Explicit (fixed and nonrecurring) ex. contract on phone
-termination penalties Implicit (indirect) -costs of adjusting to a new product -time -money |
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create new products or services
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sustainable advantage?
- lasts only until competition offers an identical or similar product/service for a comparable or lower price First mover may create assets such as -Brand name _better technology -delivery methods - critical mass -body of clients that attracts other clients |
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differentiate products or services
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product differentiation
-superior product/service Brand-name recognition such as Levi jeans, Chanel perfumes, and Gap clothes Internet success |
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enhance products or services
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product/service enhancement
- added value such as longer warranty period, on-line information, and on-line transactions |
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establish alliances
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comines package of products/services
-may attract customers -lower cost -convenience |
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lock in suppliers or buyers
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bargaining power
purchase volume strengthen perception as a leader create a standard |
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bleeding edge
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when failure occurs bc an organization tries to be on the technological leading edge
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competitive advantage (strategic advantage)
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using strategy to maximize its strengths resulting in competitive advantage
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critical mass
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body of clients that is large enough to attract many other clients
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first mover and late mover advantage
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first to offer a new product or service
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product service differentiation
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persuading consumers that its products or service is better than its competitors, even if its not.
this adv is usually gained through advertising |
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product/ service enhancement
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an organization may actually add to their product or service to enhance its value to the consumer
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reengineering
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often involves adoption of new machinery and elimination of management layers
the decision to eliminate one set of operations and build others from the ground up |
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strategic information system (SIS)
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help seize opportunities
can be developed form scratch =, or they can evolve from an organizations existing ISs |
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switching costs
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are expenses incurred when a customer stops buying a product or service from one business and starts buying it from another
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cash management systems (CMS)
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help balance the need to accrue interest against the need to have cash available
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electronic funds transfer (EFT)
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investment analysis and service
-analyze and project prices of a specific stock or bond -transmit buy and sell orders electronically - provide clients with portfolio info - monitor account info and news online |
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computer-aided design(CAD)
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reduce engineering lead time ( or time-to- market)
- key to maintaing a competitive edge help design new products quickly modify and store drawings electronically |
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rapid prototyping
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create one-of-a-kind products
test design in three dimensions |
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data mining
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effectiveness
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defines the degree to which a goal is achieved. thus a system is more effective depending upon
1 how much of its foal it achieves, and 2 the degree to which it achieves better outcomes than other systems do |
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efficiency
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is determined by the relationship between resources expended and the benefits gained in achieving a goal
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enterprise system (ES)
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info systems that integrate info across functions on a company-wide basis
also known as enterprise-wide systems -refer collectively to enterprise resource planning (ERP) customer relationship management (CRM) supply chain management (SCM) |
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enterprise resource planning (ERP)
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standerd software that automates basic process
all business functions served by one system that supports different activities for differnt departments many processes use the same information eliminate " island of automation" no more archipelago holistic approach Goals: enter data -one time at one place at the source -data availability single source in many places real time |
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Customer Relationship management (CRM)
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CRM software allows companies to better serve and know customer needs
emphasis on down stream activities of the supply chain track purchases and payments access to online answers to frequently asked questions analyze customer attributes/characteristics analyze customers contact with company web based customer service available 24/7 |
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Supply Chain management (SCM)
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emphasis on upstream activites of the supply chain
suppliers and vendors manufacturing process Primary objectives of info flow -accelerate product development reduce product and delivery cost enables managers to know status of product during its manufacturing monitoring and control of a manufacturing process |
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market research
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help to find the populations and regions that are most likely to purchase a new product or service
surveys test markets statistical methods |
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targeted market
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promote to people most likely to purchase their product
database management systems (DBMS) define potential customers internet as a marketing and selling medium - reach more shoppers -provide better service commercial announcements pervade the web |
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material requirements planning (MRP)
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manage dependent demand inventory
Bill of materials how many and when product units are needed foresee shortages and issue order receipts reduce inventory cost and ensure availability |
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manufacture resource planning (MRP II)
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expands MRP to include other manufacture-related activities
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manufacturing execution systems (MES)
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purpose is to track, schedule, and control manufacturing processes
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Bill of materials (BOM)
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a list of all raw materials and subcomponent demands
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brainstorming
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process of a group of colleagues meeting and working collaboratively to generate creative solutions and new ideas
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electronic data processing (EDP) auditing
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ensures that electronic systems comply with standard regulations and acceptable rules, and that systems cannot be manipulated to circumvent these principles
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engineering lead time( time-to-market)
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time between generating an idea for a product and completing a prototype that can be mass-manufactured
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groupware
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software that lets users work together
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productivity
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refers to the efficiency of human resources
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sales force automation
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equips traveling salespeople with info technology to facilitate their productivity
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