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83 Cards in this Set
- Front
- Back
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Why is MIS the most important class in the business school |
not true in 2005, may not be true in 2025 but it is true in 2015 |
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Moore's Law |
number of transistors per square inch on an integrated chip doubles every 18 months
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Because of Moore's Law |
cost of data data processing, communication, and storage is essentially zero
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How to attain job security |
have a marketable skill and the courage to use it
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Marketable Skill |
Any routine skill can and will be outsourced to the lowest bidder
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Reich's 4 marketable skills for the future
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Abstract Reasoning, Systems Thinking, Collaboration, and Ability to experiment |
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Abstract Reasoning |
Construct a model or representation |
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Systems Thinking |
Model system components and show how components' inputs and outputs relate to one another |
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Collaboration |
Develop ideas and plans with others. Provide and receive critical feedback |
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Ability to experiment |
Create and test promising new alternatives, consistent with available resources |
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Management information Systems |
Management and use of information systems that help organizations achieve their strategies |
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3 key elements of MIS |
Management and use Information Systems Strategies |
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System |
group of components that interact to achieve some purpose |
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Information system |
group of components that interact to produce information |
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Five-component framework |
Computer hardware, software, data, procedures, and people |
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Management and use of information systems |
Develop, maintain, and adapt |
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achieving strategies |
use of information strategies to help business perform |
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All components must work together in the ________________ |
five component model |
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Actors |
Hardware and People |
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Instructions |
Software and Procedures |
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Bridge |
Data |
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Computer side |
Hardware and Software |
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Human side |
People and Procedures |
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Which side is more difficult to change |
people side |
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Low tech information systems |
more human work than technology (Human sent emails) |
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High tech information systems |
automatically sent emails |
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How to use five-component model to scope new information system |
see how big of an investment that new tech represents |
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components least difficult |
hardware, obtaining/developing, databases and structure
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Information Technology |
Products, methods, inventions, and standards used for the purpose of producing information |
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IT components |
hardware, software, and data components |
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Differene between IS and IT |
you can buy IT but you can't buy IS |
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Information |
knowledge derived from data |
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Necessary Data Characteristics |
Accurate, Timely, Relevant, Just Barely Sufficient, and worth its cost |
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Cooperation |
group of people working together, all doing essentially the same work to accomplish a job |
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Collaboration |
group of people working together to achieve a common goal via feedback and iteration |
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Two key characteristics of collaboration |
Feedback and iteration |
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Feedback and Iteration |
One person will produce, Second will review and give feedback, someone will revise, and iteration are the stages |
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Important characteristics of effective collaborator |
enthusiastic, open minded, speak you mind even if it's unpopular, timely, willing to enter difficult situations, can give negative feedback, low maintenance, follows through on commitments, different perspective |
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Guidelines for giving/receiving critical feedback |
Be specific, offer suggestions, avoid personal comments, strive for balance, question your emotions, do not dominate, demonstrate commitment |
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Three criteria for successful collaboration |
successful outcome, growth in team capability, meaningful and satisfying experience |
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4 primary purposes of collaboration |
Become informed, make decision, solve problems, and manage projects |
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Make decision |
Operational decisions, Managerial decisions, strategic, structured decision, and unstructured decision |
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Operational decisions |
day to day activities, tend to be structured |
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Managerial decisions |
allocation and utilization of resources |
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Strategic |
support organizational issues, tend to be unstructured |
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Structured decision |
understood and accepted method for making the decision |
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Unstructured decision |
No agreed on decision making method |
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Manage Projects |
define the problem, identify alternative solutions, specify evaluation criteria, evaluate alternatives, select an alternative, implement solution |
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Starting Phase |
set team authority set project scope and initial budget form team establish team roles, responsibilities, and authorities Establish team rules |
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Planning Phase |
Determine tasks and dependencies assign tasks determine schedule revise budget |
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Doing Phase |
Perform project tasks manage tasks and budget Solve problems Reschedule tasks, as necessary Document and report progress |
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Finalizing Phase |
Determine completion Prepare archival documents Disband Team |
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Collaboration tools to improve team communication |
share data, support group communication, manage project tasks, store history |
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Synchronous communication |
all group members at one time |
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Asynchronous |
do not meet at the same time |
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Information system structure in organizations |
Industry structure, competitive strategy, value chains, business processes, information systems |
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Porters five forces model |
bargaining power of customers, threat of substitutions, bargaining power of suppliers, threat of new entrants, rivalry |
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Porter's Four Competitive strategies |
Cost, differentiation, industry wide, focus |
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Cost competitive strategy |
lowest cost across industry or in industry segment |
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Differentation competitive strategy |
Better product/service across the industry or in industry segment |
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Value |
amount of money that a customer is willing to pay for a resource, product, or service |
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Margin |
difference between the value that an activity generates and the cost of activity |
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Value chain |
network of value-creating activities |
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5 Primary activities of value chain |
inbound logistics, operations/manufacturing, outbound logistics, sales and marketing, and customer service |
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inbound logistics |
receiving, storing, and disseminating inputs to the products |
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Operations/Manufacturing |
transforming inputs into the final products |
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Outbound Logistics |
Collecting, storing, and physically distributing product to buyers |
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Sales and Marketing |
inducing buyers to purchase products and giving them the means to do so |
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Customer Service |
assisting customers use of the products and maintains and enhances the products' value |
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4 support activities |
procurement, technology, human resources, firm infrastructure |
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Procurement |
finding vendors, setting up contractual agreements, and negotiating prices |
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Technology |
Research and development, new techniques, methods and procedures |
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Human Resources |
recruiting, compensation, evaluation, and training of full-time and part-time employees |
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Firm infrastructure |
General management, finance, accounting, legal, and government affairs |
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Business process |
network of activities that generate value |
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cost |
cost of inputs + cost of activities |
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Margin |
outputs - cost |
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Repository |
collection of something |
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Company uses competitive strategy of low cost rentals |
implements business processes to minimize costs |
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Company uses differentiate strategy |
sells to high end customers |
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Principles of competitive advantage |
Product and Process Implementations |
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Product Implementation |
create a new product or service enhance products or services differentiate products or services |
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Process Implementations |
lock in customers and buyers lock in suppliers raise barriers to market entry establish alliances reduce costs |
