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33 Cards in this Set
- Front
- Back
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Information System (IS) |
A group of components that interact to produce information. |
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5 Component Framework |
Present in all Information Systems from simplest to most complex:
1.Computer Hardware 2.Software 3.Data 4.Procedures 5.People |
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Computer Hardware |
EX: When you are writing a report, you are using;
-The computer -Storage Disk -Keyboard -Monitor |
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Software
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EX: When you are writing a report, you are using;
-Microsoft Word
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Data |
EX: When you are writing a report, you are using;
-Words -Sentences -Paragraphs |
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Procedures |
EX: When you are writing a report, you are using;
-Methods to start a program -Enter report -Save/ Back up |
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People |
EX: When you are writing a report, you are using;
-You
often the most critical part of an IS |
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Applications |
Computer Programs |
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Management Information Systems (MIS) |
Development & use of IS that help businesses achieve their goals & objectives. |
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Information Technology (IT) |
-Products -Methods -Inventions -Standards
...Used for the purpose of producing information. |
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What is the difference between IS & IT? |
Information systems include PEOPLE. |
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Information & Communications Technologies (ICT) sector |
Provides products & services that other industries rely on to get their work done. |
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Moore's Law |
# of transistors on a computer chip would double every 2 years |
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Business Process |
A network of activities, resources, facilities, & information (FAIR) that interact to achieve some business function. AKA: Business System
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Activities |
Transformes resources & information of 1 type into resources & information of another type; manual or automated. |
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Resources |
Items of value, ex:
-Inventory -Funds |
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Facilities |
Structures used |
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Information |
DATA |
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Accurate Information |
Correct & complete data, has been processed correctly as expected. |
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Productivity Paradox |
The lack of evidence of an increase in worker productivity associated with the massive increase in investment in IT. |
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Productivity |
The creation of business value. |
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Business Value |
Tangible benefits for organizations through either more efficient use of resources or more effective delivery of their services to customers. |
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Value Chains |
A network of value-creating activities. |
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Margin |
The difference between value & cost. |
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Primary Activities |
The fundamental activities that create value:
-Inbound logistics -Operations -Outbound logistics -Marketing/ Sales -Service |
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Support Activities |
The activities that contribute INDIRECTLY to value creation:
-Procurement -Technology -Human Resources -Firms Infrastructure |
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Porter's 5 Forces Model |
* Customers - Bargaining power of suppliers
* Substitute Vendors - Threat of substitution * Suppliers - Bargaining power of customer * Rivalry - Rivalry among firms * New Vendors - Threat of new entrants |
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Competitive Strategy |
The strategy an organization chooses as the way it will succeed in its industry. |
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Sustaining Technologies |
Changes in technology that maintain the rate of improvement in customer value. |
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Disruptive Technologies |
Products that introduce a very new package of attributions from the accepted mainstream products. |
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Diffusion of Innovation |
The process by which innovation is corresponded through specific channels over time among the members of a social system. |
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5 Steps to Diffusion of Innovation |
* Knowledge - occurs when an individual first is informed about innovation but lacks specific data about it.
* Persuasion - when an individual becomes interested in innovation. * Decision stage - as person evaluates the pros and cons of considering the innovation whether to accept it or reject it. * Implementation - an individual uses innovation and finds out whether to continue or find a more effective way. * Confirmation - takes place if the individual is pleased and then decides to use the innovation for further potential.
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Sustained Competitive Advantage |
The development of people and procedures that are well supported by the underlying technology.
-Companies with sustainable competitive advantage will focus on integrating many activities, such as; their marketing, customer service, product design, and product delivery. |
