Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
68 Cards in this Set
- Front
- Back
|
6 reasons businesses invest in IT |
Operational excellence, new products/services/models, customer and supplier intimacy, improved decision making, competitive advantage, survival |
|
|
Operational excellence |
Improved efficiency results in higher profits |
|
|
IT |
Hardware and software business uses to achieve objectives |
|
|
IS |
Interrelated components that manage info. to support decision making/control and help with analysis/visualization/ product creation |
|
|
Data |
Streams of raw facts |
|
|
Information |
Data shaped into meaningful form |
|
|
Activities in an IS |
input, processing, output, feedback |
|
|
IS literacy |
Includes behavioral and technical approach |
|
|
Computer literacy |
Focuses mostly on knowledge of IT |
|
|
MIS |
Focuses on broader IS literacy |
|
|
What makes up IS |
Organizations, technology, people |
|
|
Organizations |
Coordinate work through structured hierarchy and business processes |
|
|
Business processes |
Related tasks and behaviors for accomplishing work |
|
|
Role of managers |
Perceive business challenges, set organizational strategy, allocate human and financial resources, creative work |
|
|
Technology |
IT infrastructure: Foundation or platform that IS built on |
|
|
4 step problem solving process |
ID, design, choice, implementation |
|
|
Critical thinking |
Sustained Judgement with an awareness of multiple perspectives and alternatives |
|
|
4 elements of critical thinking |
Maintaining doubt and suspending Judgement, being aware of perspectives, testing alternatives and letting experience guide, being aware of limitations |
|
|
Processing |
Converting raw data into a more meaningful form |
|
|
Most frequent error in problem solving |
Rushing to Judgement |
|
|
Business |
Formal organization that makes products or provides a service in order to make a profit |
|
|
4 major business funcrions |
Manufacturing/productions, sales/marketing, finance/accounting, HR |
|
|
5 basic business entities |
Suppliers, customers, employees, invoices/payments, products/services |
|
|
Business processes |
Logically related set of tasks that define how specific business tasks are performed; some tied to one function others cross functional |
|
|
Senior management |
Top level in a firm |
|
|
Middle management |
Scientists and knowledge workers |
|
|
Operational management |
Production and service workers data wrokers |
|
|
Global environment factors |
Technology/science, economy, politics, international change |
|
|
Immediate environment factors |
Customers, suppliers, competitors, regulations, stockholders |
|
|
Transaction processing systems (tps) |
Keep track of basic activities and transcripts of organization; answer routine questions |
|
|
Systems for business intelligence |
Address decision making needs of all levels of management; MIS, DSS, ESS |
|
|
MIS |
Provide middle management reports on firms performance to monitor firm and predict future, uses TPS, no flexible system |
|
|
DSS |
middle management, support nonroutine decision making, uses TPS and mis, rapidly changing |
|
|
Model driven dss |
Voyage estimating systems |
|
|
Data driven dss |
Intrawest marketing analysis systems |
|
|
ESS |
Senior management, strategic issues and long term trends, nonroutine decisions, uses mis dss |
|
|
Enterprise applications |
Systems that span functional areas, focus executing business processes across firm, includes all levels management |
|
|
4 major types of enterprise apps. |
Enterprise systems, supply chain management, CRM, knowledge management systems |
|
|
Enterprise systems |
Aka enterprise resource planning, integrate data into single system, speed up communication, greater accuracy in order fulfillment, enable managers to assemble overall view of operations |
|
|
SCM |
Supply chain management; type of interorganizational system |
|
|
CRM |
Help manage relationships with customers |
|
|
Knowledge management systems |
Manage processes for capturing and applying knowledge and expertise |
|
|
Social business |
Use of social networking to engage employees, customers, suppliers; share opinions |
|
|
IS department |
Programmers, systems analysts, IS managers, senior managers, end users |
|
|
Data worker |
Employee doing paper work |
|
|
Knowledge worker |
Engineer and scientist |
|
|
Porters 5 competitive forces |
Traditional competitors, new market entrants, substitute products and services, customers, suppliers |
|
|
How to align IT |
Identify goals, break down goals, ID metrics for measuring progress, determine how IT can help, measure actaul performance |
|
|
Low cost leadership |
Use IS to achieve lowest operational costs and lowest prices i.e Walmart |
|
|
Product differentiation |
Use IS to enable new products/services or greatly change customer convenience using existing stuff |
|
|
Focus on niche market |
Use IS to enable specific market focus and serve narrow target market better |
|
|
Business value chain model |
Highlights specific activities where competitive strategies can best be applied and IS can impact |
|
|
Elements of value chain model |
Primary activities, support activities, benchmarking, best practices |
|
|
Value web |
Firms value chain linked to chains of its suppliers, distributors, customers; flexible |
|
|
Synergies |
Two firms can pool markets and expertise |
|
|
Core competency |
Activities for which firm is world class leader |
|
|
Network based strategies |
Network economics, virtual company |
|
|
Network economics |
Costs of adding are near zero, marginal gain is larger |
|
|
Virtual company |
Uses networks to link a company without traditional boundaries or locations |
|
|
Disruptive technologies |
Disruptive impact on industries rendering existing stuff obsolete i.e iTunes to cds |
|
|
Global business and system strategies |
Domestic exporters, multinationals, franchisers, transnationals |
|
|
Multinational |
Financial management done at Central home base everything else overseas |
|
|
Transnationals |
World headquarters or regional, optimizing resources needed |
|
|
Six Sigma |
Measure of quality 3.4 defects/million opportunities |
|
|
BPM |
Business process management; aims to continually improve processes |
|
|
Steps in BPM |
ID, analyze, design, implement, measure |
|
|
Business process re-engineering |
Radical change, eliminate old processes, can have dramatic gains in production, can produce resistance to change |
|
|
How IS can improve quality |
Reduce cycle time, benchmarking, use demands to improve products, improve design, improved production precision |
