Question: Refer to the Real World Case on Valero Energy and
Refer to the Real World Case on Valero Energy and others in the chapter. Information is one part (albeit a very important one) of decision making, with managers being the other. What experiences and qualifications are important in preparing managers for “fact-based” decision-making? How are those obtained?
Answer to relevant QuestionsIn what ways does using an electronic spreadsheet package provide you with the capabilities of a decision support system?What are some of the limitations or dangers you see in the use of AI technologies such as expert systems, virtual reality, and intelligent agents? What could be done to minimize such effects?1. What is the difference between a “dashboard” and a “scorecard”? Why is it important that managers know the difference between the two? What can they learn from each?2. In what ways have the companies mentioned in ...Planning and budgeting processes are notorious for their rigidity and irrelevance to management action. How can planning be made relevant to the challenges facing a business?“In the future, the prevalence of IT in product offerings will blur the distinction between IT and other areas of the company, to the extent that the IT function will cease to exist as a separate entity.” Do you agree ...
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