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24 Cards in this Set

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Define Information Technology
Information Technology is a field concerned with the use of technology in managing and processing information.
Define Management Information Systems (MIS)
A general name for the business function and academic discipline covering the application of people, technolgies and procedures - collectivley called information systems - to solve business problems.
List the six functional areas of a business
1. Marketing
2. Operations
3. Logistics
4. Human Resources
5. Accounting
6. Sales
What is Business Intelligance?
Refers to applications and technologies that are used to gather, provide access to, and analyse data and information to support decision making efforts.
Define Data
Raw facts that describe the characteristics of an event.
Define Information
Data converted into a meaningfull and usefull context.
What is the different between data and information?
Data is raw and usually meaningless while information is raw data presented in a usefull way. e.g - A spreadsheet with thousands of sales records is converted into an easy visual graph.
What is an information functional culture?
Employees use information as a means of excercising influence or power of others. For example, a manager in sales refuses to share information with marketing. This causes marketing to need the sales manager's input each time a new sales strategy is devaloped.
What is an information sharing culture?
Employees across departments trust each other to use information (especially about problems and failures) to improve performance.
What is an information inquiring culture?
Emplyees across departments search for information to better understand the future and align themslves with current trends and new directions.
What is an information discovery culture?
Emplyees across departments are open to new insights about crises and radical changes and seek ways to create competitive advantages.
Who is Thomas Friedman?
Thomas Friedman created the ideology that the world is flat in terms of the technological world.
What is meant by the phrase 'The world is flat'?
This statement refers to all countries and civilizations being on a level playing field in the business world due to technology, allowing instant communication and impressive face value.
Name as many of the ten forces that Friedman believed flattened the world as you can think of.
1. Fall of Berlin Wall
2. Netscape IPO
3. Work flow Schedule
4. Open-sourcing
5. Outsourcing
6. Offshoring
7. Supply-chaining
8. Insourcing
9. Informing
10. Wireless
What is meant by functional area's in a business?
Refers to the specific core area's of a business which are needed to suceed. Also known as functional silos)
What implications does the idea of the world being flat have for business?
1. Employers can employ from all over the world.
2. Employees are not disadvantaged due to their location but have an equal chance of getting the job.
3. Business from less devaloped countries can, with a great website give an impressive face,
4. All businesses, employees, employers and partners are on the same economic playing field which makes beijing nextdoor neighbors to Australia.
Who is pankaj Ghemawat and what was his view on the world being flat?
He opposed the idea with evidence that stated 90% of phone calls, web traffic and investments are still local.
Who is Joseph Stiglitz and what was his view on the world being flat?
He opposed the ideology that world was flat by stating that the world was getting less flat and richer countries get richer and poorer countries get poorer and therefore not having access to technology.
List the reasoning behind IT being a compeitive advantage
1. Having access to the best IT allows businesses to offer better services or products
2. Better efficiency within the business
3. Eliminates Human error therefore building business reliability.
4. There are levels of better and worst IT.
List the reasoning behind IT being a utility
1. Anyhow that wants IT can get access to it.
2. Low cost - allowing for all businesses
3. There is no differentiation between IT within companies.
Why is IT sometimes reffered to as simular to power?
Like power, some people like to think of it as a utility. Everyone has access to it at a lowcost.
Define Globalization 1.0 (1942)
- World went from size large to size medium
- Transport etc.
Define Globalization 2.0
- World went from size medium to small
- Multinational companies
Define Globalization 3.0
- World went from small to tiny
- Death of time, distance, geography and language