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119 Cards in this Set
- Front
- Back
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Enterprise Resource Planning
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Heart of the ERP is a central database that collects information form and feeds information into all ERP’s system individual application modules.
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2 Types of Integration Tools
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1) Middleware
2) Enterprise Application Integration (EAI) middleware |
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Middleware
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-several different types of software that sit in the middle of and provide connectivity between two or more software applications
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Enterprise Application Integration (EAI) middleware
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– new approach to middleware by packaging together commonly use functionality such as providing prebuilt links to popular enterprise applications
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ERP...
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addresses the need for global information sharing and reporting
is used to avoid the pain and expense of fixing legacy systems is a logical solution to the mess of incompatible applications that had sprung up in most businesses |
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To qualify as a ERP solution:
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Flexible
Modular and Open Comprehensive Beyond the company |
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Core ERP components
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traditional components included in most ERP systems, primarily focus on internal operations
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External ERP components
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primarily focus on external operations
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Core ERPcomponents
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1) Accounting and Finance
2) Production and materials management 3) Human resources |
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Extended ERP components
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1) Business Intelligence
2) CRM 3) SCM 4) E-business |
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Core competency
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key strength of the business. Function that it does better than any of its competitors. I.E. Apple regarded for strength in product design
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Core Competency Strategy
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organization chooses focus, specifically on what it does best (core competency), forms partnerships and alliances with other specialist organizations.
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Information partnership
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two or more organizations cooperate by integrating their IT systems.
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Collaboration system
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IT based set of tools that supports the work of teams by facilitating the sharing and flow of information.
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Types of collaboration systems
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1) Unstructured Collaboration (information collaboration)
2) Structured Collaboration (process collaboration) |
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4 Integration Systems:
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1) Knowledge Management Systems
2) Content Management Systems 3) Workflow management Systems 4) Groupware Systems |
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Knowledge Management System
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supports the capturing, organization and disseminating of knowledge throughout an organization. It is up to the organization to determine what information qualifies as knowledge
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Explicit knowledge
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consists of anything that can be documented, archived, and codified, often with the help of IT
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Tacit Knowledge
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knowledge contained in people’s heads. Challenge is how to recognize, generate, share, and manage this type of knowledge.
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Practices for Transferring/Re-Creating Tacit Knowledge in an Organization:
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1) Shadowing - less experiences staff observe more experienced staff
2) Joint Problem Solving - Solving by expert and novice |
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Effective KMS system:
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o Foster innovation by encouraging the free flow of ideas
o Improve customer service by streamlining response time o Boost revenues by getting products and services to market faster o Enhance employee retention rates by recognizing their knowledge o Streamline operations and reduce costs by eliminating unnecessary processes |
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KM technologies categories:
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o Not purely tech based concept
o Knowledge repositories (databases) o Expertise Tools o E-Learning applications o Discussion and chat technologies o Search and data mining toosl |
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Social networking analysis
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process of mapping a group’s contacts (personal or professional) to identify who knows whom and who works with whom.
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Content management system
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provides tools to manage creation, storage, editing and publication of information in a collaborative environment
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Document Management System (DMS)
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optimizes use of documents within an organization
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Digital Asset Management System (DAM)
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works with binary files rather than text files
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Web Content Management System (WCM)
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adds additional layers to document and digital asset management by publishing content to websites
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Wikis
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web based tools that make it easy for users to add, remove, and change online content
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Business wikis
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collaborative web pages that allow users to edit documents, share ideas, or monitor the status of a project
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Groupware
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software that supports team interaction and dynamics including calendaring, scheduling, and videoconferencing.
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Effective KMS system:
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o Foster innovation by encouraging the free flow of ideas
o Improve customer service by streamlining response time o Boost revenues by getting products and services to market faster o Enhance employee retention rates by recognizing their knowledge o Streamline operations and reduce costs by eliminating unnecessary processes |
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KM technologies categories:
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o Not purely tech based concept
o Knowledge repositories (databases) o Expertise Tools o E-Learning applications o Discussion and chat technologies o Search and data mining toosl |
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Social networking analysis
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process of mapping a group’s contacts (personal or professional) to identify who knows whom and who works with whom.
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Content management system
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provides tools to manage creation, storage, editing and publication of information in a collaborative environment
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Document Management System (DMS)
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optimizes use of documents within an organization
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Digital Asset Management System (DAM)
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works with binary files rather than text files
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Web Content Management System (WCM)
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adds additional layers to document and digital asset management by publishing content to websites
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Wikis
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web based tools that make it easy for users to add, remove, and change online content
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Business wikis
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collaborative web pages that allow users to edit documents, share ideas, or monitor the status of a project
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Groupware
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software that supports team interaction and dynamics including calendaring, scheduling, and videoconferencing.
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Groupware is used to...
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communicate, cooperate, coordinate, and solve problems
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Presentation Support
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Same Place, Same Time
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Shared Computers
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Same Place, Different Times
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Videophones, Chat
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Same Time, Different Place
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W-mail, Workflow
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Different Time, Different Place
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CRM allows an organization to:
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1) Provide better customer service
2) Make call centers more efficient 3) Cross-sell products more effectively 4) Simplify marketing and sales processes 5) Discover new customers 6) Increase customer revenues |
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Recency
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how recently a customer purchased items
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Frequency
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how frequently customer purchases items
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Monetary Value
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`how much a customer spends on each purchase
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Evolution of CRM
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- Reporting
- Analyzing - Predicting |
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A simulation model is a...
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computer model that imitates a real-life situation.
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The fundamental advantage of a simulation model is ...
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that it shows us an entire distribution of results, not simply a single bottom-line result.
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Simulation models are also useful for...
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determining how sensitive a system is to changes in operating conditions.
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The basic “building blocks" of spreadsheet models are:
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input variables
formulas output variables |
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The Flaw of Averages
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There is no upside to balance the downside.
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Discrete distribution
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This means that there are only a limited number of possible outcomes, Ex: Rolling a die
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Continuous distribution
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This means that any number within a range of values is a possible outcome;
Example: Traveling to the Kelley School for class; |
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Binomial distribution
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is a discrete distribution that applies to a very specific situation.
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Beat The Odds: Understand Uncertainty
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Talks about flaw of averages
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Playing with Fire Article
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Montserrat Vocano, 3% risk of erupting, RISK ANALYSIS.Sting, Rolling Stones, Paul Mcartney,
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Avoiding Decision Traps Artcile
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talks about behavioral finance
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Digital Darwinism
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– organizations that cannot adapt to the new demands placed on them for surviving in the information age are doomed to extinction
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Disruptive Technologies
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a new way of doing things that initially does not meet the needs of existing customers
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Sustaining Technology
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produces an improved product customers are eager to buy,such as a faster car, larger hard drive, etc.
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Digital divide
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– when those with access to technology have great advantages over those without access to technology
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World Wide Web
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– global hypertext system that uses the Internet as its transport mechanism
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Hypertext Transport Protocol – HTTP
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is the internet standard that supports the exchange of info on the WWW
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web 2.0
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Set of economic, social, and technology trends that collectively form the basis for the next generation of the Internet, a more mature, distinctive medium characterized by user participation, openness and network effects.
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Semantic web
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evolving extension of the world wide web in which web content can be expressed not only in natural language but also in a format that can be read and used by software agents
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Web 3.0 means encompassing one or more of the following..
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o Transforming the web into a database
o Evolutionary path to artificial intelligence o Realization of the semantic web and SOA o Evolution toward 3d |
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E-business
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- conducting of business on the Internet, not only buying and selling, but also serving customers and collaborating with business partners
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E-Marketplaces
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–interactive business communities, providing a central market space where multiple buyers and sellers can engage in e-business activities
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B2c
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Applies to any business that sells its products or services to consumers over the internet
- Carfax |
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Reverse Auction
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– an auction that buyers use to purchase a product or service selecting the seller with the lowest bid
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Forward Auction
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- an auction that sellers use as a selling channel to many buyers and the highest bid wins
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Web mashup
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web site or web application that uses content from more than one source to create a completely new service
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Insourcing / In-House development
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common approach using the professional expertise within an organization to develop and maintain the organization’s information tech systems
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Business process outsourcing
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contracting of a specific business task, such as payroll, to a third party service provider
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Drivers Behind Rapid Growth of Outsourcing Industry:
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1) Globalization
2) The Internet 3) Growing economy and low unemployment rate 4) Technology 5) Deregulation |
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Outsourcing Options
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1) Onshore nearshore
2) Nearshore 3) Offshore |
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Three categories of outsourcing countries:
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Leaders, Up and comers, Rookies
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Multisourcing
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combination of professional services, mission-critical support, remote management , and hosting services that are offered to customers in any combination needed
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Wireless Fidelity (Wi-Fi)
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Means of linking computers using infrared or radio signals
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Mobile technology
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technology can travel with the user, but is not necessarily in real time
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Wireless technology
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gives users a live connection via satellite or radio transmitters
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Bluetooth
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omnidirectional wireless technology providing limited range voice and data transmission
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Radio Frequency Identification (RDID)
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use active or passive tags in the forms of chips or smart labels that store unique identifiers and relay this information to electronic readers
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RFID tags
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contain microchip and antenna and typically work by transmitting a serial number via radio waves to electronic reader, confirming the identity of person or object bearing the tag
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Microwave transmitters
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commonly used to transmit network signals over great distances
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GPS
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device determining current latitude, longitude, speed and direction of movement
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Geographic information system (GIS)
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designed to work with information that can be shown on a map
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Hotspot
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consists of one or more access points positioned on a ceiling, wall, or other strategic spot in a public place to provide maximum wireless coverage
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21st Century Organization Trends
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• Uncertainty in terms of future business scenarios and economic outlooks
• Emphasis on strategic analysis for cost reduction and productivity enhancements • Focus on improved business resiliency via the application of enhanced security |
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Four Primary Focuses of IT:
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1) IT Infrastructures
2) Security 3) E-Business 4) Integration |
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IT Infrastructures
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• Hardware, software, and telecommunications equipment that when combined provide foundation to organization’s goals
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Mobile commerce (m-commerce)
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ability to purchase goods and services through a wireless internet device
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Telematics
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blending computers and wireless telecomm. Technologies with goal of efficiently conveying information over vast networks to improve business operations
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Electronic Tagging
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identifying and tracking assets and individuals via technologies such as radio frequency identification and smart cards
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Business Factors Determining Marketplace Winners and Losers:
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0 Organization agility (plug and play IT infrastructure)
o Focus on core competencies and processes o Redefinition of the value chain o Instantaneous business response o Ability to scale resources and infrastructure across geographic boundaries |
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Trend Analysis
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trend is examined to identify the nature, cause, speed of development, potential impacts
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Trend Monitoring
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trends viewed as particularly important in a specific community, industry or sector are monitored, watched and reported to key decision makers
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Trend Projection
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Trend can be plotted to display changes through time and into future
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Computer Simulation
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Complex systems (US Economy) can be modeled by means of mathematical equations and scenarios to determine a what-if analysis
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Historical Analysis
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anticipate outcome of current developments based off historical events/trends
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Trends Shaping the Future
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1)World’s population will double in next
40 years 2)People in developed countries are living 3) Growth in information industries is creating a knowledge dependent global society 4)Global economy is becoming more integrated 5)Economy and society are dominated by technology 6)Pace of technological innovation is 7)Time is becoming one of the world’s most precious commodities |
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Technologies Shaping the Future
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o Digital Ink
o Digital Paper o Teleliving o Alternative Energy Sources o Autonomic computing |
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Digital Ink
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electronic ink technology that digitally represents handwriting in its natural form
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Digital Paper
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electronic paper any paper optimized for digital printing.
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Teleliving
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using information devices and the internet to conduct all aspects of life seamlessly
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Alternative Energy Sources
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By the end of the decade, wind, geothermal, hydroelectric, solar and other sources will increase from present level of 10% of all energy use to 30%.
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Autonomic Computing
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self managing computing model named after and patterned on the human body’s nervous system
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Intracompany Processes
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Procurement, fulfillment, and production, as well as the integrated process, are all intracompany processes
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Decision Point
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check of inventory to determine if a company is ready to start the production process
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Human Capital Management (HCM)
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core intracompany process, also known as hire-to-hire process, is concerned with people.
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Asset Management
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core intracompany process, also known as acquire-to-hire process, is concerned with physical assets.
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Extended Intercompany Processes
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Supply Chain Management, Supplier relationship management, product life cycle management, and customer relationship management
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Source-to-settle process
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SRM systems enable this process which occurs between a company and its suppliers
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Idea-to-market Process
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Product life cycle management (PLM) enables this process which interacts with many other processes in the company, such as SCM and SRM.
ensures that the best ideas from inside and outside the company are converted to successful end products it he quickest and most economical way |
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Demand-to-order process
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Consistes of activities that 1) create demand fro products through marketing campaigns 2) transform that demand into sales opportunities and 3) convert those sales opportunities into sales quotations.
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