based on the where they are used in the hierarchy of an organization. For example, Transaction Processing System for worker used, Management Information Systems for Middle Managers used, Decisions Support Systems for senior managers used and Executive Information System for executive used. There are some general types of information systems. For example, a database management system (DBMS) is a combination of software and data that makes it possible to organize and analyze data. DBMS software is typically
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IT STRATEGIC PLANNING “You’ve got to be very careful if you don’t know where you are going, because you might not get there.” Yogi Berra BACKGROUND Henry Mintzberg, former president of the Strategic Management Society, points out that “strategy can not be planned because planning is about analysis and strategy is about synthesis.” 1 Failure to recognize this basic distinction accounts for the frequent failure of such exercises, as does an excessive focus on technical detail, lack of suitable
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allowed into the exam room iv. No unauthorized material should be with you in the examination room e.g. No phones (Whether off or not), No written papers or written body parts, etc. SECTION A (Answer all questions in this section) 1. What is the importance of decision style? (1 Mark) Answer: Decision style is the manner in which decision makers think and react to problems. This includes their cognitive response, their values, beliefs, and perceptions. These factors can vary
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productivity is the same as effective management in every other context. Achieving consistent, high productivity involves every management function and the linking processes of communicating, decision making, and leading. Productivity is the measure of how specified resources are managed to accomplish timely objectives stated in terms of quantity and quality. Productivity-Oriented Mission and Objectives. An organization cannot be productive if it does not determine what its intended customers really
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organizational culture have a dependent relationship with one another. In the business world, management structure determines the behaviors, attitudes, dispositions and ethics that create the work culture. If a company's organizational structure is strictly hierarchical, with decision-making power centralized at the top, the company's culture will likely reflect a lack of freedom and autonomy at the lower levels. If a company's management structure is decentralized, with shared power and authority at all levels, the
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Knowledge management and organizational performance: Theoretical Study 1. Introduction Knowledge is an asset that needs to be effectively managed. Interest in knowledge management (KM) has grown dramatically in the recent years, as more researchers and practitioners have become aware of the knowledge potential to drive innovation and improve performance. For an organization to remain competitive, it must effectively practice the activities of creating, acquiring, documenting, transferring, and
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INFORMATION TECHNOLOGY & RESOURCE REPLACEMENT Information Technology adheres to the CoC Technology Replacement Program that requires computer infrastructure components be replaced every three years. This document establishes the procedures regarding this program. The Technology Replacement Program (TRP) is designed to support the IT goals and objectives of achieving stable, predictable and reliable computers systems. This program ensures sufficient money is set aside to keep our computer infrastructure
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Strategic financial management can be described as the allocation of scarce resources to identified possible strategies among competing opportunities and taking necessary actions to monitor the progress of the chosen opportunity so as to achieve set objectives. The Chartered Institute of Management Accountants of UK (CIMA) defines Strategic Financial Management as “the identification of the possible strategies capable of maximizing an organization’s net present value, the allocation of scarce capital
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The Influence of the Mission Statement in Strategic Management and Companies As we all know, most of the companies have their mission statement. Mission statements are a primary management tool (Bart and Hupfer, 2004) in the pursuit of organizational excellence. A mission statement is to make the company’s fundamental purpose briefly. It also answers the reason why does the company exist. The mission statement gives a clear description of the company's purpose both for those people in the organization
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▪ Explain the business information support systems. ▪ Examine the role of accountants and information systems. Learning Outcomes: On successful completion of this topic students should be able to: Describe the major influences changing the nature and context of accounting information systems; Demonstrate an understanding of business information support systems. Illustrate an awareness of the role of accountants, accounting and finance related specialists
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