Flashcards
International Business Mangement Teil 2
Flashcards do conjunto (27)
- 1Functions of Innovation Systems1.) innovation systems are made u by actors, institutions, networks and technology
2.) 7 Functions of innovation systems
- entrepreneurial systems
- knowledge development
- knowledge exchange
- guidance of the search
- formation of markets
- mobilization of resources
- counteracting resistance to change - 2Disruptive innovation (Clayton Christensen)product/service takes root initially in simple applications at the bottom of a market and then relentlessly moves up market, eventually displacing Established competitors
- 3Disruptive Innovation
- 4Reverse Innovation--> any innovation likely to be adopted in developing world
--> main driver: incoming gap
buyers in poor countries demand solutions on entirely different price-performance curve - 5Why study information system (IS) and E-Business?-steady increase in computing systems
-IS has moved from background to foreground
-Convergence of data, voice and visual systems is changing business and public services
-effective use of IS to support a business strategy depends on the managing of organizational issues
-managing depensd on information - 6What is IS?refers to collection of multiple pieces of equipment involved in the dissemination of information
Hard/Software, computer system connections, information, information system users => IS
- 7IS Management- planning, acquisition, development and use of the information system
- 4 elements needed: procedures, people, soft and hardware
- 8stages in using the internet
- 9Traditional Delivery and Customer Participation
- 10Data, Information, Knowledge
- 11Types of Information systems
- 12Customer Relationship Management (CRM) Definition:Process of maximizing value delivered to customer through all interactions, both online and traditional
Effective CRM aims to develop one-to-one relationships with valuable customers
--> if a company wants to develop a better relationship with its customers it needs first to rethink the key business processes that relate to its customers, from customer service to order fulfilment - 133 Approaches, how to communicate with customers
- 14Management issues of CRM systems
- 15Enterprise resource Planning System (ERP) Definition:aims to plan, co-ordinate and manage activities and decisions across many functions by creating an integrated platform which integrates them into company-wide business processes. It also includes contacts with business partners
- 16Management issues of ERP
- 17Knowledge Management Systems (KM) Definition:type of IS intended to support people as they create, store, transfer and apply knowledge. This usually relates to customers, markets, products, services and internal processes, but may also refer to knowledge about relevant external developments
- 18two types of knowledge
- 19two views of the knowledge management process
- 20Data Gathering
- 21Data Analytics- have to be completed when conducting a research experiment
- various information gathered, reviewed, analyzed --> findings conclusion - 22Issues of Knowledge Management Systems
- 23Information System (IS) and StrategyIS can become a competitive advantage that can use technology to strengthen one or more of the forces
Managers also use IS to support their Strategy:
- Differentiation
- Cost Leadership
- Focus Strategy
- 24E-Business and E-CommerceE-Business: Integration, through internet, all processes (supplier to customer)
E-Commerce: activity of selling goods/services over internet - 25IoT, Industry 4.0 Definition:Industry 4.0: project in high-tech strategy of German Government
promotes computerization of traditional industries (e.g. manufacturing)
Goal = intelligent factory, characterized by adaptability, resource efficiency & economicy, integration of customers and business-partners in business-processes and value processes
IoT: Internet of Things
Technological basis are cyber-physical systems
Impact of both: most mid-sized companies struggle with the consequences if they do not adapt to IoT and I 4.0. Cant compete with Asian competitors. Business should see opportunities and trends towards IoT and I 4.0 - 26Digital Twinsdynamic digital representation of industrial asset, enables companies to better understand/predict performance of machines and find new revenue streams, and change the way their business operates.
Past/present/previous performance and operations ask for early warnings & predicitons - 27Internet Marketing-automation, product development extended analysis thanks to "BigData"
- content marketing instead of product marketing
- community managers take over sales management
-digital campaign instead of print-campaign
-product managers build their own communities and have direct client contact