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11 Cards in this Set
- Front
- Back
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What is a business model? |
Describes how company, delivers and sells product or service to create wealth |
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What is operational excellence? |
The improvement of efficiency to attain higher profitability. |
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Examples of Competitive Advantage? |
-Delivering better performance -Charging less for superior products -Respoding to customer and suppliers in real time |
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What is an Information System? |
Set of interrelated components that -Collect, process, store, and distribute information -Support decision making, coordination and control |
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What is an Information Technology? |
-The hardware and software that a firm need to achieve business objectives |
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Four activities of information system? |
-Input: Raw data or information from organization -Processing: Converts raw data into meaningful information -Output: Information to be supplied to people, activities, that use it -Feedback: Output returned to members of the organization to help them evaluate or correct the input and/or processing. |
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1)Technical Approach 2)Behavioural Approach |
1) Emphasizes mathematically based models -Computer science, management science, operations research 2) Behavioural issues (strategic business integration, implementation, etc) -Psychology, economics, sociology. |
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What is Management Information System? |
Combines computer science, management science, operations research and practical orientation with behavioural issues. |
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Contemporary Issues? |
-Increased e-commerce -Emerging mobile digital platforms -Growth business use of "big data" -Growth in cloud computing |
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Four main actors of Management Information System |
-Suppliers of hardware and software -Business firms -Managers and employees -Firm's environment (legal, social, cultural context) |
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Sociotechnical View |
Optimal organizational performance achieved by jointly optimizing both social and technical systems used in production |
