1, 2, 3, 4 Flashcards
balanced scorecard
A management system that enables organizations to clarify their vision and strategy and translate them into action.
benchmark
Baseline values the system seeks to attain.
benchmarking
The process of continuously measuring system results, comparing those results to optimal system performance (benchmark values), and identifying steps and procedures to improve system performance.
best practices
The most successful solutions or problem-solving methods that have been developed by a specific organization or industry.
business-facing process
Invisible to the external customer but essential to the effective management of the business and includes goal setting, day-to-day planning, performance feedback, rewards, and resource allocation.
business intelligence (BI)
Refers to applications and technologies that are used to gather, provide access to, and analyze data and information to support decision-making efforts.
business process
A standardized set of activities that accomplish a specific task, such as processing a customer’s order.
business process reengineering (BPR)
The analysis and redesign of workflow within and between enterprises.
business strategy
A leadership plan that achieves a specific set of goals or objectives.
buyer power
Is assessed by analyzing the ability of buyers to directly impact the price they are willing to pay for an item.
competitive advantage
A product or service that an organization’s customers place a greater value on than similar offerings from a competitor.
competitive intelligence
The process of gathering information about the competitive environment, including competitors’ plans, activities, and products, to improve a company’s ability to succeed.
critical success factor (CSF)
A factor that is critical to an organization’s success.
CRM reporting technologies
Help organizations identify their customers across other applications.
CRM analysis technologies
Help organizations segment their customers into categories such as best and worst customers.
CRM predicting technologies
Help organizations make predictions regarding customer behavior such as which customers are at risk of leaving.
customer-facing process
Results in a product or service that is received by an organization’s external customer.
customer relationship management (CRM)
Involves managing all aspects of a customer’s relationship with an organization to increase customer loyalty and retention and an organization’s profitability.
data
Raw facts that describe the characteristics of an event.
efficiency MIS metric
Measures the performance of the IT system itself including throughput, speed, and availability.
effectiveness MIS metric
Measures the impact IT has on business processes and activities including customer satisfaction, conversion rates, and sell-through increases.
enterprise resource planning (ERP)
Integrates all departments and functions throughout an organization into a single IT system (or integrated set of IT systems) so that employees can make decisions by viewing enterprisewide information on all business operations.