3 What are the three levels of management activity? OperationalTacticalStrategic
4 Operational management level? Composed of supervisory managers that develop short-range plans such as weekly production schedules.
5 Tactical management level? Composed of middle managers that develop short- and medium-range plans
6 Strategic management level? Composed of a board of directors and an executive committee of the CEO who develop overall organizational goals, strategies, policies as a part of a strategic planning process.
7 What is a Structured decision? Repetitive and routine problems for which standard solution exist.The procedures to follow can be specified in advance.
8 What is a Semi-structured decision? Some decision procedures can be pre-specified, but not enough to lead to a definite recommended decision.
9 What is an Unstructured Decision? The procedures cannot be specified in advance.Unstructured problems are novel and non-routine, complex.Ex: new business planning
10 Decisions made at the operational management level tend to be more Structured
11 Decisions made at the tactical management level tend to be more Semi-structured
12 Decisions made at the strategic management level tend to be more Unstructured
13 What are the management support systems? Management Information systemsDecision support systemsExecutive information systems
14 What is an exception report? Exception reports, highlighting only exceptional conditions, such as when a customer exceeds their credit limit, a manager would probably get an exception report.
15 What are the characteristics of the Decision Support Systems? InteractiveSupports semi-structured and unstructured decisions
16 What is a What-if analysis? What-if analysis attempts to check the impact of a change in the assumptions on the proposed solution.What if we cut advertising by 10 percent?
17 What is a Sensitivity Analysis? When the value of one variable is changed repeatedly and the resulting changes in other variables are observed.
18 What is a goal-seeking model? Attempts to find the value of the inputs necessary to achieve a desired level of outputs.
19 What is Data Visualization? Data visualization refers to presentation of data in graphical form instead of traditional form of text and table.
20 What is Geographical Information System (GIS)? A GIS is a data visualization technology that captures, stores, checks, integrates, manipulates, and displays data using digitized maps.
21 What are the characteristics of Executive Information Systems (EIS)? Provide management with immediate and easy access to information about the firm’s critical success factors.Are most useful to managers at the strategic level of management.Support unstructured decision-making process.
22 What is drill down?provides details behind any given information.
23 What is Data mining?organizing valuable business information in a large database
24 What is Artificial Intelligence? AI is the effort to develop computer based systems that behave as humans.
25 What are the major areas of AI? Cognitive scienceRoboticsNatural interfaces
26 What are the major areas of Cognitive science? intelligent agents,neural networks,fuzzy logic.
27 What is an Intelligent agent? It is a software surrogate for end user or process that fulfills a stated need or activity.
28 Systems that use massively parallel processors whose architecture is based on the human brain’s neuron structure are calledArtificial Neural Networks
29 What is a Fuzzy Logic system? system that can process ambiguous data and quickly provides approximate, but acceptable solutions to problems.
30 What are the characteristics of an Expert system? They are designed to replicate and then to replace a human advisor.They transfer expertise from an expert and documented sources to a computer and then to the user.