Chapter 1: Information Systems in Global Business Today Flashcards
Identify three major new information system trends
Three new trends include the emerging mobile digital platform, online software as a service (Netflix, Spotify), and cloud computing, IoT, big data.
Describe how information systems have changed the way businesses operate and their products and services
- making organisations more competitive and efficient
- digitally enabling their core business processes and evolving into digital firms
- internet has a stimulating effect on globalisation by drastically lowering the production, buying, selling of goods
Describe the characteristics of a digital firm
Nearly significant business relationships are digitally enabled and mediated, core business processes are accomplished through digital networks, and key corporate assets are managed digitally.
Digital firms offer great flexibility in organisation and management as well.
Describe the challenges and opportunities of globalization in a “flattened” world
internet and global communication had greatly expanded the opportunities for people to communicate wiht one another
- reducing the economic and cultural advantages of developed countries
- more leveled plain for everyone (similar opportunities)
List and describe six reasons that information systems are so important for business today
- Operational Excellence
- New products, services, and business models
- Customer and supplier intimacy
- Improved decision making
- Competitive advantage
- Survival
Explain the differences between data and information. Why is the former essential to the latter?
Data are streams of raw facts representing events occurring. Information is data shaped into meaningful form.
Describe the three activities in an informations system that produce the information that organisations need
- Input: captures raw data
- Processing: converts raw data into meaningful form (information)
- Output: transfers processed information to people or activities
What is an information system?
An information system is a set of interrelated components that collect, process, store and distribute information. It supports decision making, coordination and control.
Whats the difference between senior management, middle management, and operations management?
Senior management takes a screenshot of where the company is at and makes decisions accordingly. Middle management looks at the data and interprets it, and knowledge workers provide specialties like chefs. Operations management service works work with the customers, production works are on the assembly lines, and data works input information - faces of the company.
What are the four functioning areas of business?
- Seperation of business functions
- Unique business processes
- Unique business culture
- Organisational politics
Describe the feature of an organisation’s information value chain
From a business perspective IS, are part of value-adding activities for acquiring, transforming, and distributing information that managers can use to improve decision making, enhance organisational performance, and, ultimately, increase firm profitability.
Define complementary assets and describe their relationship to information technology
Complementary assets are those assets required to derive value from a primary investment. This includes an investment in training to see the payoff of new technology
Describe the complementary social, managerial, and organizational assets required to optimize returns from information technology investments
- Organizational assets includes an appropriate business model, a supportive culture and efficient business processes
- Managerial assets include strong senior management support, incentives for management innovation, teamwork and training programs
- Social assets include internet and telecommunications infrastructure, standards and laws and regulations creating fair stable market environments
List and describe each discipline that contributes to a technical approach (emphasis mathematical based models) to information systems
- Computer science
- Management Science
- Operations Research
List and describe each discipline that contributes to a behavioural approach to information systems
- Psychology
- Economics
- Sociology
