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3rd semester BSCB > BDIS > Flashcards

BDIS Flashcards

1
Q

What are Data, Information, Knowledge & Wisdom?

A

Data: Meaningless facts (e.g. 22)

Information: Combining data with a context (e.g. Bus 22 goes from A to B)

Knowledge: Using information in the decision making (e.g. not taking bus 22 as you need to go to C)

Wisdom: Knowledge used for the greater good (e.g. biking is better than taking the bus)

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2
Q

How do organizations use information?

A

Decision making in the company

Used as actual product (e.g. Hotels.com)

To gain strategic value

Communication - exchange of data (e.g. purchase department to invoicing)

Process support - supporting internal processes

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3
Q

What is a system?

A

System: Set of interacting components working together towards common goal - transforming input to output. There are boundaries towards the environment

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4
Q

What is an information system?

A

IS: Combination of technology, data, people and processes directed toward the collection, manipulation, storage… and communication of information. It can be used with management decision making.
Consists of: Data, Hardware, Software, Communication media, Procedures, People

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5
Q

What are components?

A

Components: The small parts of a bigger whole - e.g. computers, employees, departments, data, information, storage, output.

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6
Q

What is the difference between IT & IS?

A

IT is hardware, software and media used to store, organize and retrieve communication

IS is the organized combination of IT, people and processes that is directed toward the collection, manipulation, storage, organization, retrieval and communication of information.

The difference is that IS involves people, which is not the case for IT

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7
Q

What can IS facilitate and how? Why is IS important?

A

It can facility:

  • Process enhancement
  • Automation
  • Control
  • Information flow

It is important as it can help:

  • Collect large amounts of data
  • Structure large amounts of data
  • Do accurate and consistent manipulations
  • Help imply business rules, such as a customer cannot place a new order if they have an invoice over date or that a hotel cannot double book rooms
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8
Q

What is a project? And what types of projects are there?

A

A project is a temporary task undertaken to create a unique result, different from the daily operations of the firm.

  • Temporary = clear start and clear end
  • Unique = distinguished from day-to-day operations

Different types of project:

  • Compliance: Must be performed
  • Operational: Support operations
  • Strategic: Gaining competitive advantages
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9
Q

What is project management and why is it important?

A

Project management is the process of controlling and planning the project to ensure a successful completion of the project. Important to make sure that the project is completed on time, within the agreed scope and within budget.

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10
Q

What are the major trade-offs in project management, and why do they exist?

A

Scope - cost - time

There is a trade-off as a project manager wants to minimize time and cost while ensuring a broad enough scope to complete the project.

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11
Q

How can project risks be identified?

A

Draw the risk model

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12
Q

What is the difference between actual hours and man-hours?

A

Actual hours: The time span it takes to complete a task

Man hours: The time spent on the task

Example:
If a person works 5 hours á day for 5 days, then actual hours is 5 days whereas man-hours are 25 hours.

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13
Q

What is a program?

A

A program involves several projects closely related and designed to accomplish a
common goal, but performed as individual projects

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14
Q

Explain the Project Life Cycle

A

1) Project definition
- Develop charter
- Establish organisation
- Identify stakeholders
- Define scope

2) Project planning
- WBS to estimate each part
- Three point estimation
- Gantt chart
- Risk evaluation

3) Project execution
- Monitor cost, risk, resources
- Monitor Gantt chart

4) Project closing
- Give documentation to client
- Evaluated successes / failures

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15
Q

What is a project portfolio

A

A project portfolio is a large number of projects or programs that an organization is
concurrently performing or considering

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16
Q

Draw and explain the strategy triangle

A

Business strategy drives the two others
- IS and OS are dependent but MUST support BS

If one strategy changes, then all must change to align the triangle
- Implementing a new strategy ALWAYS causes changes to all three strategies

Business strategy:

  • Porter’s generic strategies: Cost/Differentiation
  • Hypercompetition models: Speed/agility
  • Social business strategies: Stakeholder involvment
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17
Q

What is an IS strategy?

A

IS strategy is the plan an organization uses to provide information systems and services.

  • Which infrastructure is needed?
  • What software is required?
  • What is the level of security?
  • How can BS be improved by IT & IS?
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18
Q

Explain the five steps of the IS strategic planning / Stratetic Planning Process

A

1) Strategic business planning: Know who you are
2) IS assesment: Know where you start
3) IS vision: Know where you want to go
4) IS arcitechture: Know how you are going to get there
5) Strategic initiatives: Know what you need to get there

See more in slides from lecture 3

19
Q

Explain and draw Porter’s value chain

A

See slide 38 L3

20
Q

Explan and draw the virtual value chain

A

See slide 39 L3

21
Q

What is Critical Success Factors and how can they be used in relation to the IS Strategic Planning

A

CSF are factors crucial to the success of the company and without these, they will not be able to succeed on their BS.

For Wal-mart this could be delivering products at low cost, where for Apple it might be to create innovative products.

CSF can be used to evaluate the relevance and importance for strategic initiatives, as these must support the company in ensuring fulfillment of their CSF.

22
Q

Draw the priority matrix and explain its relation to the IS strategic planning / Strategic Planning Process

A

The model evaluates the initiatives on two dimensions:

  • Expected revenue gained
  • Ease of implementation

An initiative with high expected revenue gains and high ease of implementation is the best, and is referred to as an “imperative”.

23
Q

Which two models are related to a companies organizational strategy and explain them

A

Leavits business diamond:

  • Focus on structure, tasks, people and technology
  • Only way to change OS is through these
  • All parts are influenced by IS

Managerial levers:

  • Focus on organization, culture and control
  • Managers can change these to change OS
  • Some parts are influenced by IS

Comparison:

  • Managerial levers is more detailed
  • Managerial levers points better towards areas affected by IS, where diamond must asses HOW much each element is affected
24
Q

What is the IS strategy matrix?

A

See slide 28 L3

25
Q

Explain the 5 different ways to identify strategic initiatives

A

See slide 37 L3 and forward

26
Q

What is BPM?

A

See slide 33 L4

27
Q

What is the difference between effectiveness and efficiency?

A

Efficient: Least waste possible
Effective: Accomplishing the purpose

28
Q

Explain the difference between incremental and radical changes

A

Radical: Fundamental change in business processes

  • Used when process objective is to be changed (e.g. new strategy)
  • Goal is to make a rapid, breakthrough impact

Incremental: Changes happen through small, incremental changes

29
Q

Explain the difference between automate, informate, and transform

A

See slide 24 L4

30
Q

What is the difference between functional (silo) perspective and cross-functional process perspective

A

See slide 7 L4

31
Q

Which two ways are there of changing a process?

A

Radical = BPR
- Business process reengineering

Incremental
- Six sigma

32
Q

What is the motivation for BPM?

A

If a company expected many, frequent process changes, then BPM is effective

It combine radical and incremental changes, which might give the most suitable level of change

33
Q

Explain the Process Management Cycle

A

See slide 38 L4

34
Q

What are the enablers of BPM?

A 
Design
Metric
Performer
Infrastructure 
Owner
35
Q

Are capabilities are needed to do BPM effectively?

A

Leadership
Culture
Governance
Expertise

36
Q

What is an ERP system? Draw

A 
An Enterprise Resource Planning
system (ERP) is a cross functional
information system consisting of an
integrated suite of software
modules supporting the basic,
internal business processes

See slide 10 L5

37
Q

What are benefits and limitations of ERP?

A

Benefits:

  • Integrate information flow cross-functionally
  • Based on modules (buy only parts)
  • Central database = no redundant data
  • Best practices
  • Eloving to needs of the market
  • Partnership in long-term

Limitations:

  • Costly
  • Risky
  • Difficult to integrate
  • Tied to one vendor
38
Q

What is SCM?

A

Supply Chain Management

39
Q

Benefits and limitations of SCM?

A

Benefits:

  • Integration of supply chain
  • Customers and suppliers are on single network
  • Optimazation accross entire value chain
  • Streamlining of supply chain
  • Can lead to new business model

Limitations:

  • Hard to get parties to agree
  • Joint planning is required
40
Q

What is CRM?

A

Customer Relationship Management

CRM manages and supports activities performed to obtain, enhance relationships with,
and retain customers

41
Q

Benefits of CRM?

A 
Benefits: 
Increased customer service
More efficient sales transactions
Cross sales/Up sales
More efficient call centres
More effective sales and marketing efforts
Increased earnings
42
Q

What is IT governance?

A

A management tool for aligning business and technology initiatives throughout a
company

  • Ensure alignment between process/systems and the BS

It is rules and authority over IT and processes

43
Q

Explain the IT engagement model

A 
Stakeholder
Business side
IT side
Different levels
Linkages:
- Business linkage
- Alignment linkage
- Architecture linkage
Pitfalls

See slides 36 L5

3rd semester BSCB (5 decks)

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