Flashcards
3061 - Chapter 1
Cards in this deck (29)
- 1Common Use of Computers and I.S.Reduce costs, gain CA, knowledge workers required in every profession - I.T. will increase efficiency and productivity
- 2Computer LiteracySkills in productivity software (word, database mgt, spreadsheets)
- 3Information LiteracyRole of information generated in Business Intelligence
- 4Transaction Processing Systems (TPS)Record keeping, clerical operations, inventory - focus on data collection and processing to reduce cost
- 5Management Information Systems (MIS)Integration of hardware & software, data, processes and human elements to produce timely and relevant info for decision making purposes
- 6Designing MIS1. Define systems objective
2. Collect & Analyze Data
3. Put in useful format for decision making - 74 Major Components of Info Sys (I.S.)Including - hardware, software & human elements:
1. data - sources (int/ext), aggregated/disaggregated - ie. SIN
2. database - heart of info sys, to decrease personal time
3. process
4. information - quality of info (timelines, integ. of data, consistent/accurate, relevant - 8Difference between Data & InfoData (input - raw facts for decision making)
Info (collect data - int & ext sources, analyze/process facts - more useful for decision making) - 9Importance of I.S. in function of business*Info is 2nd most important (human 1st) - info to be timely, relevant, accurate to enhance competitive position using 4 M's (manpower, machinery, material and money)
- data collecting, cost reduction, operations repetitive, minimal human involvement - 10How I.T. is used for CAWith timely, relevant, info will enhance company's position while using 4 M's
3 strategies: overall cost leadership, differentiation and focus - 11Information SystemsCan help organizations to reduce the cost of products and services to assist with differentiation and focus strategies can help bottom and top line strategies
- 12Purpose of 5 Forces ModelMichael Porter - to analyze company's postion in marketplace to gain CA
- 135 Forces Model1. Buyer Power
2. Supplier Power
3. Threat of substitute products and services
4. Threat of new entrants
5. Rivalry with existing competitors - 14Define SystemCombination of hardware, software, telecommunication networks used to build, create and distribute useful data
- 15Define Knowledge WorkersDefined by Peter Drucker (1959) - profession that create, modify +/or synthesize info as part of the job
1959(35%) now (100%) - 16Advantage of Knowledge WorkersComputers / technology help workers to be more effective and productive no matter what profession - now + future - higher education, more $$$ than agriculture or manufacturing
- 17Computers & Information Systems (Daily Life)Information System (broader term) vs. Information Technology
Examples - online classes, grading, grocery/retail, internet, smartphones - 18CASE - TJX CO- credit card breach
- January '07, 46.4 credit cards stolen
- Example of international nature of cyber crime - 19Business IntelligenceB.I. - historical, current, predictive views of business operations & environments - gives organizations a competitive advantage
- 20CLASS EXAMPLE (TPS)Fedex - world hub in Memphis, TN at night - use of machines and tech combined to scan, sort, weigh & route 2.2 million packages to final destination, on time and guaranteed
- 21SIX MAJOR ROLES OF I.T.1. Increase employee productivity by decreasing time, error & cost
2. Enhance decision making
3. Improve team collaboration
4. Crate business partners & alliances
5. Enable global reach worldwide, take into consideration culture of society
6. Facilitate org. 2 transform/evolve by responding to ever changing marketplace - 22Competitive Advantage- 1831, Cyrus McCormick
- Significant, longterm benefit to a company over it's competition
- Ability to establish and maintain a CA -> vital to any company's success - 23CASE: NFL COACHES1. Sources of CA with INFO TECH - allows for analysis of past & present w/ little human involvement
2. LT sustainable? Yes, if coach doesn't transition out + knowledge is accessible by all
3. Roles/Goals of IT - ALL b/c increased decision making, collab, biz partnerships while considering society as a whole - 24Using I.T. for a C.A.- Michael Porter, Identified 3 strategies:
1. Overall Cost Leadership -> better processes
2. Differentiation
3. Focus - 25Porter's Generic Sources:
- 26Examples of Generic SourcesCost Leadership - Walmart
Differentiation - Amazon
Cost Focus - La Quinta
Differentiation Focus - Nordstrom - 27Porter's 5 Forces Model - DiagramEnter text here...
- 28Role of Porter's 5 Forces ModelHow information systems have a factor in the industry - used to analyze an organization's position in the marketplace and how to use info sys for CA
- 29CASE: Herr's Chips1. Industry - tough to enter, environmental hard to tap into and operate
2. Competitive advantage with Porter's 5 Strategies: Differentiation (focus) b/c of geographic location, narrow focus
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- Business/Economics Flashcards on 3061 - Chapter 1 , created by Karlie Puchala on 23/09/2017.
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