1.2 What's New in Management Systems

Question 1

What are the new features / elements in Management Systems?

Answer 1

IT innovations
New business models
E-commerce expansion
Management changes
Firms and organisation change

Question 2

Give examples of IT innovations in Management Systems

Answer 2

Cloud computing
Big data 
Internet of Things (IOT)
Mobile digital platform
AI and machine learning

Question 3

Give examples of new business models in Management Systems

Answer 3

Online streaming music & video

On-demand e-commerce services

Question 4

Give examples of e-commerce expansions in Management Systems

Answer 4

Online services now approach online retail in revenue

Online mobile advertising now larger than desktop

Question 5

Give examples of management changes in Management Systems

Answer 5

Managers use social networks, collaboration tools
BI applications accelerate
Virtual meetings proliferate

Question 6

Give examples of firms and organisations changes in Management Systems

Answer 6

More, collaborative, less emphasis on hierarchy and structure
Greater emphasis on competencies and skills
Higher speed / more accurate decision making based on data and analysis
More willingness to interact with consumers (social media)
Better understanding of importance of IT