Corporate culture is determined by factors such as the value of top management, the organization’s history, stories, experiences, beliefs, and norms. A strong, well-defined culture can help a business reach its goals and influence management styles. If carefully communicated and flexible enough to accommodate change, corporate culture can be managed for the betterment of the organization.
Corporate strategy, which includes addressing the issues of what business or businesses the organization wishes to enter;
Business strategy is concerned with achieving a goal for each business or related set of businesses within the organization; and
Functional strategy usually corresponds to the different specific areas of management.
Formulation of strategic goals – the long term goals developed from the mission of the firm;
Environmental and organizational analysis – an assessment of threats and opportunities presenting themselves from the environments within which the business operates, and understanding the strengths and weaknesses of the firm; and
The matching of organizations and environments for purpose of evaluation.
The primary purpose of setting goals (planning) is to provide direction and purpose to the organization. Without goals to strive for, no organization will exist.
Managers must identify what they want to achieve before they can formulate courses of action to take. Planning also tries to predict the future so that managers can either cope with or control the factors that are anticipated.
Define corporate culture
Help manager assess performance
DATA: Raw facts; that is , facts that have not yet been processed to reveal their meaning to the end user
INFORMATION: Facts (data) that are arranged in meaningful patterns. Information consists of transformed data and facilitates decision making.
What is a database?
- Instead of storing the same data in many files, data can be structured (in tables) in a database, a collection of (usually) related data tables
- When an application needs specific data it can be retrieved from the database
- Example: Personnel, Sales, Accounting dept
- Sometimes referred to as a Repository of facts
- The database is part of a larger whole known as an Information System (IS).
- The IS provides for data collection, storage, and retrieval.
- It also facilitated the transformation of data into information and the management of both the data and the information.
Why use a database?
- Data constitutes the building blocks of Information (Information is produced by processing data)
- No decision activity should take place without information
- Good, relevant and timely information is the key to good decision making
- Good decision making is the key to organizational survival in a global environment
- Database is shared, integrated computer structure housing:
- End user data
- Database Management System (DBMS)
- Manages Database structure
- Controls access to data
- Contains query language
Importance of DBMS
- Makes data management more efficient and effective
- Query language allows quick answers to ad hoc queries
- Provides better access to more and better-managed data
- Promotes integrated view of organization’s operations
- Reduces the probability of inconsistent data
Historical roots of database
- First applications focused on clerical tasks
- Requests for information quickly followed
- File systems developed to address needs
- Data organized according to expected use
- Data Processing (DP) specialists computerized manual file systems
- Raw Facts
- Group of characters with specific meaning
- Logically connected fields that describe a person, place, or thing
- Collection of related records