Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/21

Click to flip

21 Cards in this Set

  • Front
  • Back

Info Technology

Constructed (artificial) solutions that store, manipulate, and/orcommunicate information.

Info System

Organized structures of hardware, software, and people that collect, filter,process, distribute, or create information

Sustained Competitive Advantage

Resources that are 1) rare 2) Valuable 3) Difficult to imitate 4) Difficult to Substitute. That puts a firm competitively above the rest.

Switching Costs

Costs/inconvenience associated/incurred with switching from one product to another.

Network Effects

Anything that increases the value of a product as more people use it (Facebook)

Porter's Five Forces

Rivalries w/i the industry; Bargaining power of buyers; Bargaining power of suppliers; Threat of new entrants; Threat of substitutes

Strategic Positioning

doing something differently using technology but accomplishing the same goal

Operational Effectiveness

:doing something better than you were before, nothing different or new, just doing what you were previously doing better using technology.

Functional Info System

Technology that performs a specific function of the business. (Accounting, Sales, etc.) but can't be used seamlessly everywhere because it is only designed for a specific function

Enterprise System

software applications that are built with the organization as a whole in mindrather than individual users. is any system that exists to further the needs of thebusiness as a whole rather than a job function.

CRM

Customer Relationship Management - Enterprise & functional IS. It is a strategy used to learn more about customers’ needs andbehaviors in order to develop stronger relationships with them.

HRIS

Human Resource Info System - Enterprise & Functional system, Systems used in Human Resources to help all the functions of Human resources. (recruitment, time keeping, W-2, training, identify high-po employees etc.)

The 4 Main Business Functions

Human Resources; Sales & Marketing; Finance & Accounting; Operations(Manufacturing and Production)

Business Process

a logically related set of activities that define how a business task if performed.

SCM

Supply Chain Management Software - functional & Enterprise IS - helps decrease bullwhip effect - thatmanages large and complex supply chains.

ERP

Enterprise Resource Planning System - NOT functional IS, Enterprise - is business solution software that integrates and automates the datamanagement of a company’s business processes.

ERP Success Factors

Top Managements Engagement; Project Leaders are veterans, team members are decision makers; Change management and project planning go together; Fill in expertise gaps with third parties; Its not going to solve every problem (stop at good enough and get to know the system)

ERP Deployment Strategies

The Big Bang; Staged Roll out; Slam Dunk;

Bullwhip Effect

since small fluctuations at one end of the supply chain, once filtered through a long process, can causesignificant variance at the other end. It is addressed by SCM 2 ways: by enabling synchronouscommunication and through increasing the speed of communication.

Supply Chain Steps

Planning; Sourcing; Manufacturing; Delivery; Returns

ERP Drawbacks

Switching costs. business process redesign. Employee push-back. Hidden costs: training, payment of software.