Baltzan Chapter 1 Flashcards
Knowledge Worker
Individuals valued in their ability to interpret an analyze information
Information Age
Infinite quantities of facts are available to anyone on a computer
Recorded, measures, and reports monetary transactions
Accounting
Deals with strategic financial issues
Money Banking Credit Investments Assets
Finance
Maintains policies, plans and procedures to effectively manage employees
Human Resources
Plans, prices, and promotes goods and services
Marketing
Manages the process of converting/transforming resources into goods/services
Operations Management
Performs the function of selling goods or services
Sales
Systems Thinking
Monitoring the system by gathering feedback on multiple inputs that are producing outputs
Chief Security Officer (CSO)
Ensure security of business system
Safeguard against hackers/viruses
Chief Technology Officer (CTO)
Ensure the speed, accuracy, reliability of MIS
Chief Privacy Officer (CPO)
Ensure the legal/ethical use of information within company
Chief Information Officer (CIO)
Overseeing all uses of MIS
Ensure MIS aligns with goals and objectives
Chief Knowledge Officer (CKO)
Responsible for collecting, maintaining, and distributing company knowledge
Porter’s Five Forces Model
Pressures that can harm potential sales
Knowledgable customers can pit rivals against each other and force down prices
Influential suppliers and drive down profits by raising supply prices
Competition can steal customers
New market entrants can steal potential investment capital
Substitute products can steal customers
