Management of Knowledge and Information

Questions: 1. Two main methods used by management in decision making. What are two models, explain in detail. How each model works?2. Difference b/w explicit and tacit knowledge. Use examples in the answer.3.There are no. of considerations when considering performance criteria. Identify five and give a brief explanation.4. When considering disseminating information, two key factors need to be considered. What are they? Give explanation in your answers? Also discuss system capability, privacy, and relevance.5. Governance of DSS system, when discussing management of data, such as held in a data warehouse paramount. Discuss how governance should be approached. What are factors that must be incorporated?6. Difference b/w structured and unstructured data. Give examples.7. The question of validity and reliability of information is one that companies face. What are three types of validity? What are they? Explain. Answers: 1. The two models that have been identified for the process of decision making are the rational model and the non-rational models. The rational model of making a decision is based on the fact that the management of the organization takes the decision based on the economic interest of the organization. The decision is made by the information that is readily available to the managers. The decision is taken based on the following steps; recognition of the need, diagnosis of the problem, development of the solutions, selection of the alternatives, implementation, and evaluation. The non-rational model of decision making can be seen as the biased way of making a decision. In the case of the non-rational decision making, all the information are not available, and the decision maker is biased by the personal preferences. Since all the information is not available in this case, the decision taken is termed as the best guess. 2. Explicit Knowledge Tacit Knowledge 1. All the information that are available on the record is the explicit knowledge. The information that is available in the human mind in the form of experience and the models are called the tacit knowledge. 2. Since the information are available in the records, this information can be coded, articulated and stored in documents and the storage devices Since the tacit information cannot be penned to form a document, these are extremely personal, and can't be stored in different locations. 3. Since the information can be documented, they can be easily transferred from one place to another, without a problem. On the other hand, the tacit knowledge being hard to document makes it very difficult to transfer from one person to another. 4. Explicit information due to its advantages is valued lesser compared to the tacit language. Tacit knowledge is more difficult to transmit and is extremely personal thus making it more valuable. 5. The skills of a person are explicit in nature The experience of the person is tacit in nature 3. The performance of an organization is dependent on the various conditions the five major criteria which have been discussed below: Identification of objectives: To ensure that proper output is created from the system the goals and the objectives of the system should be well understood which will help in taking better decision for the system. Information: The information is the most important tool needed for making a proper decision for the system. Thus the information should be filtered accordingly so that only the accurate information is taken for taking a decision. Analysis of the available information and creation of the paths of execution help in achieving the target based on the available resources and information. Clear conclusion: The clear goals will produce clear results and should be well documented so that each decision is supported by evidence. Records should be well maintained, and the reports and the information should be well documented which will act as the reference for the future. 4. While disseminating the information the two factors that are to be given utmost importance are meaningful information that is to be distributed and the target. The information that is to be disseminated should be well analyzed as wrong information can create havoc for the target, as the inappropriate instruction can create different output which is not needed by the organization. The targets too should be well analyzed as the information meant for the manager if delivered to the functional staffs can result in the creation of a sense of mistrust among the employees. As it has been stated in the previous paragraph, the information and the target should be well checked. Well, distributed information and relevance will result in better preproduction and the capability of the system, and the reverse will result in chaos. The mistakes will not only create the chaos but will also compromise the privacy. 5. The management of data is the key of any information system. The decision support system allows the managers to manage data through a subsystem called data management system. The DSS can include the data management system that can extract data from the data warehouse. The transaction processing system is considered as the standard medium for input information. The organizations that do not use transaction-processing system utilize different technology for inputting information into the system. The data management system will connect to the various electronic devices of the organization so that proper and accurate information can be provided. The development team has to be conscious of the fact the system will be conducting processes on three different types of information such as organizational information, personal information, and external information. 6. Factors Structured Unstructured Meaning In general, the structured data is referred to the well-organized data. The unstructured data is just the opposite of structured data that is the data that is not organized refers to unstructured data. Application The structured data is used in the database, search engine and much more. The structured data is directly added to the page's markup. The unstructured data is used a word processor, powerpoint, video, audio and much more. In addition to that Hadoop, Big data tool, uses the unstructured data. Example: If one developer is creating a database in SQL server and one table is a consumer. Then he must put the fields called name, address, contact and much more in the table. These atomic data are the structured data. Every people who use e-mail come across with the unstructured once a day. It is because the body of the electronic mail is the example of the unstructured data. 7. The decision support system is a very sensitive information system and is attached to the core management aspects of the system. This implies that the system is always offered with reliable and verified information. The three types of validity are such as following. Format validity: It validates that the data that is entered is of right format or not. Taken as an instance, some National Insurance is in the form LL 99 99 99 L' where 9 is any number and L is any letter. Range validity: It validates that the inputted data is of accurate range or not. Taken as an instance, Number of days worked should be between o to 50. Lookup table Validity: It validates that whether the data is accepted by the lookup table or not. Taken as an example, There are only twelve possible months of a year. Bibliography Anderson, D. R., Sweeney, D. J., Williams, T. A., Camm, J. D., Cochran, J. J. (2015).An introduction to management science: quantitative approaches to decision making. Cengage learning. Bak, C. A., Vogt, L. H., George, W. R., Greentree, I. R. (2013). Management by the team. Logistics Information Management. Bassano, C., DAniello, G., Gaeta, M., Miranda, S., Orciuoli, F., Sandkuhl, K., Tomasiello, S. (2015). An Experience-based Decision Support System for Supporting Governance in Enterprise.Procedia Manufacturing,3, 3559-3566. Buller, P. F., McEvoy, G. M. (2012). Strategy, human resource management, and performance: Sharpening line of sight. Human resource management review,22(1), 43-56. Hau, Y. S., Kim, B., Lee, H., Kim, Y. G. (2013). The effects of individual motivations and social capital on employees tacit and explicit knowledge sharing intentions.International Journal of Information Management,33(2), 356-366. Kaisler, S., Armour, F., Espinosa, J. A., Money, W. (2013, January). Big data: issues and challenges are moving forward. In System Sciences (HICSS), 2013 46th Hawaii International Conference on(pp. 995-1004). IEEE.