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Chapter 01 - Managing information and Sources of Information - Coggle…
Chapter 01 - Managing information and Sources of Information
Info system
critical for performance management
aids in defining, measuring, and monitoring performance metrics and compare them against targets and benchmarks
Role of Info system
Automated system allow employees to focus on their core work
Provide info on a timely basis, supporting the decision-making process
Convert data collected into sensible info
Access to real-time or archive data
Business Intelligence helps convert data into valuable insights
Enterprise Resource Planning (ERP) provide users the view about a company's operation
Costs vs Benefits of info system
Benefit
Support operational benefits
Less chance of human errors
Can be modified or re-programmed to meet the changing needs of the users
Costs
Labor cost (eg. salary for system analysts and programmer)
Time of employees to get used to the system
Off-the-shelf system: may be cheap but unfulfilled info as it is not specific to business needs
Cost of hardware and telecommunication
Cost to train employees to use the system
Cost for repair and maintenance
Risk of security, virus, malware
Component of Information System
Internet
Internet: connected with Internet Protocols address
Can be public, private, or at organizational level
Intranet
Subset of internet, but block off from public, only available to certain org
Eg. A university may have its own web portal
Two types of wireless networks: Wi-fi and cellular (3G/4G)
Use of internal info
Generating info - routine
Determine if benefits are greater than costs
Desired info for users before gathering
Standardized format should be set
Limitations of info should be communicated to users
Usefulness of info should be reviewed
Generating info - Ad hoc
Ensure that info is not duplicate, and relevant to users request it.
Most up-to-date data is used
Sources of info
Type of data
Secondary
Primary
Sources of info
Internal source eg. company's accounting, production records, HR records, call center data
External source eg. social media, news, press, etc.
Use of management info
Planning: can be made based on external info and current performance of the company
Control: depends on feedback about performance
Using external info
Quality of info may not be good
Accuracy is a doubt
May not be relevant to research objectives
May be cheap => cost-saving