Principles of Information Systems (MindTap Course List)
12th Edition
ISBN: 9781285867168
Author: Ralph Stair, George Reynolds
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 10.6, Problem 1CTQ
Program Plan Intro
Problem solving process:
- The decision making phase of problem solving is been divided into three phases:
- Intelligence:
- It denotes first stage of decision making.
- The potential problems or chances are been defined in this stage.
- Design:
- It denotes second stage of decision making.
- The alternative solutions are been developed to problem and feasibility is evaluated.
- Choice:
- It denotes third stage of decision making.
- It requires choosing a course of action.
- Intelligence:
- The problem solving process goes outside decision making and includes other stages too.
- The stages involved in problem-solving process after decision making is shown below:
- Implementation stage:
- It denotes fourth stage of problem-solving.
- A solution is been put into effect in this stage.
- Monitoring stage:
- It denotes final stage of problem-solving.
- The decision makers assess implementation.
- Implementation stage:
Satisficing model:
- A satisficing model finds a good problem solution, although it may not be best problem solution.
- It is used when modeling the problem properly to achieve optimal decision would be difficult, complex or costly.
- It does not look at all possible solutions but to those that gives good results.
- A travelling salesman problem denotes a sample of satisficing model.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Zora Bank limited is a medium sized bank that was recently purchased and the new owner now finds that there are numbers of delinquent loans. They have hired you as a consultant to make recommendations on the categorizing and writing down of these delinquent loans. They also want you to recommend a system that will see the loans being realistically or valued in the future. The owners have also asked that your recommendation show the effects on the income statement for each step that you are proposing. Your recommendations should set all three steps as they relate to provisioning that you would advise the bank to take.
A problem or default loan can be defined as a loan for which the repayments are overdue. List two credit operational deficiencies that financial Institutions have control over, that if not adequately addressed by them, may cause the Institute to experience default and problem loans
To cut the number of projects, the steering committee used a weighting scheme that reflected the airline’s priorities, which were: fly safe, generate revenue, reduce costs, and customer service. The weighting scheme easily weeded out the fluff.”
1.Use a weighted scoring model to help the committee choose between two projects: Booking System Upgrade and Cabin Crew Retraining. The relative weights for each criterion and the assessment of each project for these criteria are shown in the following table. Which project would you choose and why?
Suppose that Susan stacked the deck with her design proposal. In other words, she purposefully under-designed the less expensive solution and produced an estimate for the higher-end version that she knew would come in over budget if it were chosen. She also knew that SLS had a tendency to hire design consultants to build projects.
Is it unethical to produce a consulting report that steers a client toward a specific outcome?
Suppose instead that Susan had prepared a report that truthfully recommended the more expensive option as the better choice for SLS, in her professional opinion. Further, suppose that SLS management chose the less expensive option solely to reduce costs, without regard for the project's security outcomes. Would it be ethical of Susan to urge reconsideration of such a decision?
Chapter 10 Solutions
Principles of Information Systems (MindTap Course List)
Ch. 10.6 - Prob. 1DQCh. 10.6 - Prob. 2DQCh. 10.6 - Prob. 1CTQCh. 10.6 - Prob. 2CTQCh. 10.9 - Prob. 1DQCh. 10.9 - Prob. 2DQCh. 10.9 - Prob. 1CTQCh. 10.9 - Prob. 2CTQCh. 10 - During which stage of the problem-solving process...Ch. 10 - The three stages of decision making are augmented...
Ch. 10 - Prob. 3SATCh. 10 - Prob. 4SATCh. 10 - Prob. 5SATCh. 10 - Prob. 6SATCh. 10 - Prob. 7SATCh. 10 - Prob. 8SATCh. 10 - Prob. 9SATCh. 10 - Prob. 10SATCh. 10 - Prob. 11SATCh. 10 - The ______ approach is a structured, interactive,...Ch. 10 - Prob. 13SATCh. 10 - Prob. 14SATCh. 10 - Prob. 1RQCh. 10 - Prob. 2RQCh. 10 - Prob. 3RQCh. 10 - Prob. 4RQCh. 10 - Prob. 5RQCh. 10 - Prob. 6RQCh. 10 - Prob. 7RQCh. 10 - Prob. 8RQCh. 10 - Prob. 9RQCh. 10 - Prob. 10RQCh. 10 - Prob. 11RQCh. 10 - Prob. 12RQCh. 10 - Prob. 13RQCh. 10 - Prob. 14RQCh. 10 - Prob. 15RQCh. 10 - Prob. 16RQCh. 10 - Prob. 17RQCh. 10 - Prob. 1DQCh. 10 - Prob. 2DQCh. 10 - Prob. 3DQCh. 10 - Prob. 4DQCh. 10 - Prob. 5DQCh. 10 - Prob. 6DQCh. 10 - Prob. 7DQCh. 10 - Prob. 8DQCh. 10 - Prob. 9DQCh. 10 - Prob. 10DQCh. 10 - Prob. 1PSECh. 10 - Prob. 1TACh. 10 - Prob. 2TACh. 10 - Prob. 3TACh. 10 - Prob. 1WECh. 10 - Prob. 2WECh. 10 - Prob. 3WECh. 10 - Prob. 1CECh. 10 - Prob. 2CECh. 10 - Prob. 1DQ1Ch. 10 - Prob. 2DQ1Ch. 10 - Prob. 1CTQ1Ch. 10 - Prob. 2CTQ1Ch. 10 - Prob. 1DQ2Ch. 10 - Prob. 2DQ2Ch. 10 - Prob. 1CTQ2Ch. 10 - Prob. 2CTQ2Ch. 10 - Prob. 1DQ3Ch. 10 - Prob. 2DQ3Ch. 10 - Prob. 1CTQ3Ch. 10 - Prob. 2CTQ3
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, computer-science and related others by exploring similar questions and additional content below.Similar questions
- Rick DeNeefe, manager of the Golden Valley Bank credit authorization department, recently noticed that a major competitor was advertising that applications for equity loans could be approved within two working days. Because fast credit approval was a competitive priority, DeNeefe wanted to see how well his department was doing relative to the competitor’s. Golden Valley stamps each application with the date and time it is received and again when a decision is made. A total 104 applications were received in March. The time required for each decision, rounded to the nearest hour, is shown in the following table. Golden Valley’s employees work 8 hours per day. Draw a bar chart for these data. Analyze the data. How is Golden Valley Bank doing with regard to the competitive priority? Decision Process Time (hours) Frequency 8 8 11 19 14 28 17 10 20 25 23 4 26 10 TOTAL 104 Note:- Do not provide handwritten solution. Maintain…arrow_forwardYou have decided to undertake a project and have defined the main research question as ‘What are theopinions of consumers on a 10 percent reduction in weight, with the price remaining the same, of “Snackers”chocolate bars?’Write both a null and alternative hypothesis that you could test in your project. In your response, also definethe purpose of the study, define the research problem statement, list the research objectives, and researchquestions.arrow_forwardSuppose that Ms. Hamir stacked the deck with her design proposal. In other words, she purposefully under-designed the less expensive solution and produced a cost estimate for the higher-end version that she knew would come in over budget if it were chosen. She also knew that the customer had a tendency to hire design consultants to do build projects. Discuss with your classmates if you think it is unethical to produce a consulting report that steers a client toward a specific outcome. Suppose instead that Ms. Hamir had prepared a report that truthfully recommended the more expensive option as the better choice for the customer in her best professional opinion. Suppose that the customer decided on the less expensive option solely to reduce costs without regard to the project's security outcomes. Would Ms. Hamir be ethically sound to urge reconsideration of such a decision? Why or why not, discuss this further with your classmates.arrow_forward
- In what scenarios would denormalization be recommended, and what are its trade-offs?arrow_forwardSuppose Ms. Hamir stacked the deck with her design proposal. In other words, she purposefully under-designed the less expensive solution and produced a cost estimate for the higher-end version that she knew would come in over budget if it were chosen. She also knew that SLS had a tendency to hire design consultants to do build projects. It is unethical to produce a consulting report that steers a client toward a specific outcome? Suppose instead that Ms. Hamir had prepared a report that truthfully recommended the more expensive option as the better choice for SLS in her best professional opinion. Further, suppose that SLS management decided on the less expensive option solely to reduce costs without regard to the project's security outcomes. Would she be ethically sound to urge reconsideration of such a decision?arrow_forwardAssume you are a procurement officer for an office furniture manufacturer of steel office equipment. You have a single factory located in Sydney with 2,000 employees. You sell about 40% of your office furniture to retail-oriented catalog outlets such as Quill in response to specific customer orders, and the remainder of your output is sold to resellers under long-term contracts. You have a choice of purchasing raw steel inputs—mostly cold-rolled sheet steel—from an exchange and/or from an industry consortium. Which alternative would you choose and why? Prepare a report for management supporting your position.arrow_forward
- You managed to convince John that a new information system will benefit him greatly. Since you are developing a new information system for John, he decided that it would be appropriate for him to also purchase a new computer system. John has provided you with a budget of R10 000 and asked you to source the computer system for him. He indicated that whatever remains of the R10 000 after you have sourced the computer system, you can keep as payment for your efforts.Q.2.1 Provide a detailed hardware specification for the computer system to be sourced for John. The hardware specification should centre around the main components common to all computer systems and should specify details such as make, model, cost, power or capacity and supplier.arrow_forwardThe board of directors of a firm believes that top management should be rewarded for their efforts in furthering the company's goals. At the conclusion of each year, the board of directors determines whether or not to award bonuses based on share price increases. Bonuses will be paid out in the form of stock, which managers will be able to keep or sell. What are the repercussions of implementing such a bonus program?arrow_forwardThe board of directors of a corporation believes it should compensate senior management for achieving the firm's objectives. At the conclusion of each year, the board determines bonus payments based on share price increases. Bonuses will be paid in the form of shares that managers may retain or sell. What are the consequences of such a bonus structure?arrow_forward
- Case study 2: Scooter Rental Project Ms. Alex, CEO of ScooterRental Co. from Sydney has decided to come to Canberra and bring his knowledge to develop his project in the ACT. She has bought ‘Scoot & Go’ Company a small local business in Canberra with running 11 staff and 240 scooters. Her goal is no scooter stay unused and that all broken scooters can be replaced in less than 24hours. The company is currently competing with two other scooter companies in Canberra and Ms. Alex’s goal is that by 2025, 90% of Canberra population to use their scooters when they are going to work or shopping. Ms. Alex would like to review this business project and work out options on how she can improve and grow her business. Her goal for the future is to use various advances in technologies to support the local customers. She is planning to establish a hiring scooter’s website to improve marketing and reach a wider market and with a possibility of selling them. Customers will be able to hire online for…arrow_forwardThe board of directors of a company determines that senior management should be rewarded in order to achieve the company's objectives. The board of directors determines whether to award bonuses based on growth in share value at the conclusion of each fiscal year. Bonuses will be given in stock, which the managers may keep or sell on the open market. What are the ramifications of instituting a rewards scheme like this?arrow_forwardOgero offices have been closed during the several lockdowns in compliance with the regulations of the Lebanese Government. Managers and employees cannot come to their offices; however, the maintenance employees had to be on site to solve any technical problems. To better serve the customers and keep the activities running smoothly, the decision to work from home was taken as an alternative. Any meeting between managers and employees was done through Google Meet. This is an example of * Web Analytic Web Conferencing Online learning systems Online Appointmentarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Fundamentals of Information SystemsComputer ScienceISBN:9781305082168Author:Ralph Stair, George ReynoldsPublisher:Cengage LearningPrinciples of Information Systems (MindTap Course...Computer ScienceISBN:9781285867168Author:Ralph Stair, George ReynoldsPublisher:Cengage LearningPrinciples of Information Systems (MindTap Course...Computer ScienceISBN:9781305971776Author:Ralph Stair, George ReynoldsPublisher:Cengage Learning
- Operations Research : Applications and AlgorithmsComputer ScienceISBN:9780534380588Author:Wayne L. WinstonPublisher:Brooks Cole
Fundamentals of Information Systems
Computer Science
ISBN:9781305082168
Author:Ralph Stair, George Reynolds
Publisher:Cengage Learning
Principles of Information Systems (MindTap Course...
Computer Science
ISBN:9781285867168
Author:Ralph Stair, George Reynolds
Publisher:Cengage Learning
Principles of Information Systems (MindTap Course...
Computer Science
ISBN:9781305971776
Author:Ralph Stair, George Reynolds
Publisher:Cengage Learning
Operations Research : Applications and Algorithms
Computer Science
ISBN:9780534380588
Author:Wayne L. Winston
Publisher:Brooks Cole