GMS-200 Mini-Assignment 1 By Jay Nagar (3)

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Toronto Metropolitan University *

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Management

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Jan 9, 2024

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Uploaded by ProfessorRoseWombat16

GMS200 Mini-Assignment 1 2) Apply Figure 13.1 to describe the value of information to Globalive. Why does Globalive need information and how does the information flow? The value of information is very essential to Globalive. A company like Globalive performs in a very competitive industry. Globalive receives “Intelligence information” from external sources like stakeholders, suppliers or government that is important to have about competitors or other organizations. This information becomes “internal information” and is flowed up and down through the company and some information regarding the company is disseminated to stakeholders and environment. 3) Discuss the value of information technology (IT) to the management roles of planning, organizing, leading and controlling using Figure 13.4. The value of information technology (IT) is very important to the management roles of planning, organizing, leading and controlling. Information technology is the easiest, quickest and most efficient method for information sought, received, transferred inside and outside of the organization. Information technology is an efficient method to store, record and save data and this information can be organized and presented in different formats that helps organize, plan and control the company. 4) Applying the concepts in the section “Managers as Problem Solvers”, How does IT assist Anthony Lacavera in solving problems? Note, problems occur when the actual results differ from the desired forecast. When the results of a company which in most cases is product sales or customer satisfaction differ greatly from the desired forecast, it is the manager’s job to define and solve the problem. In Anthony Lacavera’s

company, the IT assists Lacavera (the manager) by providing him with information, recording the problem and translating/organizing the data required to solve the problem. 6) Decisions are made based on changes in the business environment. The first need by managers is to collect information, however, it is necessary to recognize the impact differing environments have on the ability to access needed information. Apply Figure 13.7 to explain the type of environment where Globalive operates, the risk of failure and the type of decisions it will make. Globalive operates in a risk environment where decision makers view alternatives and their outcomes in terms of probabilities. Every decision made by the company holds a risk and there is a certain probability that the alternative will solve the problem. There is always a risk of failure when the company makes decision because they are affected by a variety of factors. Many factors are constantly changing and this increases the risk of the decisions made by the company. 7) Globalive entered into a partnership with Orascom Telecom Holding. Le cavera made a decision to grow his company using this strategy. Apply Figure 13.8 to identify the steps that he undertook to reach a decision. Use all parts of this model. When Globalive entered into a partnership with Orascom Telecom Holding, Le Cavera made a decision to grow his company using this strategy. One of the problems Lacavera faces is when the telecom company is dying, this is where he defines the problem. Then he discusses his alternatives which is selling the company or finding a huge investor, and he implements the alternative by finding an investor and joining the huge industry of wireless. When evaluating the results, you can see that he secured a $700 million in financing from Egypt-based Orascom Telecom Holding.

8) Decision errors do occur! Apply the errors and traps of decision- making on pp. 414–416. Many errors occur when a company is making a decision. The different types of error that could occur are availability bias, representation bias, anchoring bias and adjustment bias, farming error, confirmation error, and escalating commitment etc. These errors could commonly occur when Anthony Lacavera makes decision in his company. For example, when Lacavera gets information from his dad who got his information from an employee of Bell, who is his competitor in business about the future regards for an off put in the telecom market. This was an example of availability bias because Anthony Lacavera had very little idea or information from what he was given and he decided to start a company and venture on new grounds. By:- ]

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