Information Systems

Front 1

Business process

Back 1

a standardized set of activities that accomplish a specific task, such as processing a customer’s order

Front 2

Business process re-engineering

Back 2

the analysis and redesign of workflow within and between enterprises

Front 3

Workflow

Back 3

Includes the tasks, activities, and responsibilities required to execute each step in a business process

Front 4

Supply Chain Management

Back 4

the management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and profitability

Front 5

Customer Relationship Management

Back 5

involves managing all aspects of a customer’s relationship with an organization to increase customer loyalty and retention and an organization's profitability

Front 6

Enterprise Resource planning

Back 6

integrates all departments and functions throughout an organization into a single IT system so that employees can make decisions by viewing enterprise-wide information on all business operations

Front 7

Business strategy

Back 7

leadership plan that achieves a specific set of goals or objectives such as increasing sales, decreasing costs, entering new markets, or developing new products or services. A stakeholder is a person or group that has an interest or concern in an organization. Stakeholders drive business strategies, and depending on the stakeholder’s perspective, the business strategy can change.

Front 8

Competitive Advantage

Back 8

feature of a product or service on which customers place a greater value than they do on similar offerings from competitors. Competitive advantages provide the same product or service either at a lower price or with additional value that can fetch premium prices

Front 9

First-mover advantage

Back 9

occurs when a company can significantly increase its market share by being first with a new competitive advantage; When a company is the first to market with a competitive advantage, it gains a particular benefit

Front 10

Competitive intelligence

Back 10

the process of gathering information about the competitive environment, including competitors’ plans, activities, and products, to improve a company’s ability to succeed. It means understanding and learning as much as possible as soon as possible about what is occurring outside the company to remain competitive.

Front 11

Porter’s three generic strategies

Back 11

generic business strategies that are neither organization nor industry specific and can be applied to any business, product, or service

Front 12

What are Porter’s three generic strategies

Back 12

1) Broad cost leadership2) Broad differentiation3) Focused strategy

Front 13

Broad Strategies

Back 13

reach a large market segment

Front 14

Focused strategies

Back 14

target a niche or unique market with either cost leadership or differentiation.

Front 15

Value Chain Analysis

Back 15

views a firm as a series of business processes that each add value to the product or service.

Front 16

Business process

Back 16

a standardized set of activities that accomplish a specific task, such as processing a customer’s order. Once a firm identifies the industry it wants to enter and the generic strategy it will focus on, it must then choose the business processes required to create its products or services.

Front 17

Primary value activities

Back 17

Acquire raw materials and manufacture, deliver, market, sell, and provide after-sales services

Operations

Outbound logistics

Marketing and sales

Service

Front 18

Procurement

Back 18

purchases inputs such as raw materials, resources, equipment, and supplies