Information & The Managers Job
TRUE or FALE: Large companies are more vulnerable to cyberattacks
False, smaller companies are more vulnerable since they don’t have strong cyber security
What are the 4 stages of the product life cycle?
Intro, Growth, Maturity, Decline
In a B2B marketplace, companies must adapt a common XXXX
Software
What common issue in generative AI output requires human review?
Hallucinations (Bad Predictions)
What type of management uses data and research to inform decision-making rather than intuition or tradition?
Evidence-Based Management
Finish the sentence: “To make effective decisions, managers need information from inside the organisation AND from XXXX XXXX
External Stakeholders
What stage of the product life cycle consists mostly of replacement demand
Maturity
Give an example of a Transaction-Processing system
- Banks
- Supermarkets
- Payroll Preparation
What group in an organisation tends to benefit more from generative AI, according to studies?
Entry-level employees.
What is one reason why managers may avoid using evidence-based practices?
Trusting their personal experience more than research.
What are the 4 factors that determine the usefulness of information to a manager?
Quality, Timeliness, Completeness, Relevance
What is a Network
Interlinked computers that exchange information
True or False: Enterprise Resource Planning (ERP) Systems involve more non-programmed than programmed decision-making
True
What does generative AI often lack in its outputs due to its reliance on existing online content?
Novelty or originality.
How does evidence-based management affect traditional leadership power structures?
It reduces the reliance on hierarchy by emphasizing data over personal authority.
What is the difference between Data and Information
Data is raw facts, Information is data organised in a meaningful way
Give 1 postivie and 1 negative effect of advancing IT
- Computers becoming fast
- Stores (like physical bookstores) going out of business
- Anything else that's acceptable
Give 2 problems of large hierarchies (in relation to information and managers)
Any 2 of the following:
What is one example of a company using generative AI to speed up time to market for new products?
Sanofi (for drug development).
What kind of “half-truths” are often found in traditional management practices that evidence-based management seeks to avoid?
Conventional wisdom that lacks solid evidence.
What 4 steps do Managers take to achieve control over activities
1. They establish measurable standards of performance of goals
2. They measure actual performance
3. They compare actual performance against established goals
4. They evaluate the results and take corrective action if necessary
True or False: In a 4 tier information system with cloud computing, the smartphones are directly connected to the server
False, they connect through wireless computing solutions first
Name 4 of the 6 Management information systems
Any 4 of the following
- Transaction Processing Systems
- Operations Information Systems
- Decision Support Systems
- Expert Systems
- Enterprise Resource Planning Systems
- E-commerce Systems
What key system might sales organizations with high turnover use to transform their sales models with generative AI?
Gen AI-powered avatars and personalized sales presentations.
What is one potential ethical concern regarding the use of AI in evidence-based management?
Bias in AI algorithms could lead to unfair or inaccurate decisions.