IB Lecture 10 Information Systems Flashcards
Decision Making Process
- Intelligence (Organizational Objectives, search and scanning procedure)
- Design Alternatives
formulating assumption - Choice
- Implementation (Durchführung)
Systems of decision making
- fast, intuitive and emotional
2. slower and more logical
Prospect theory
Most of us find losses roughly twice as painful as we find gains pleasurable
knowledge
knowing how to interpret the data
uncodified information
words and gestures
codified
words, numbers etc.
undiffused information
information that is not readily shared
diffused information
information that is readily shared (to the world)
codifying information
YOU GAIN MANIPULABILITY AND PREDICTABILITY,IT BEHAVES LIKE AN OBJECT, YOU CAN STORE ITYOU CAN WRITE CONTRACTS BUT YOU MIGHT LOOSE CONTEXTUAL RICHNESS, FEELING, AND UNDERSTANDING.
I-Space theory
from slides
information system
can be any organized combination of people, hardware, software, communications networks, data resources, and policies and procedures that stores, retrieves, transforms, and disseminates information in an organization.”
Enterprise Resource Planning Systems
today mostly SAP
wisdom of crowds
average is a very good predictor
Sources for competitive advantage
personal knowledge (a new business idea) proprietary knowledge (implemented business idea, patented) public knowledge (selling/buying on the market) common knowledge (what everybody knows)
The Value Chain model
the activities
conducted in any organization can be divided into two parts: primary
activities and support activities.
Primary activities
Primary activities are those activities in which materials are
purchased, processed into products, and delivered to
customers. Each adds value to the product or service hence
the value chain.
Inbound logistics (inputs) Operations (manufacturing and testing) Outbound logistics (storage and distribution) Marketing and sales Service
the support activities
the support activities are operations that
support the creation of value
The firm’s infrastructure (accounting, finance, management)
Human resources management
Technology development (R&D)
Procurement (Beschaffung)
Information Asymmetry as Business Model (Hotwire)
Hotel rooms can be chosen, but you don’t know which hotel it is.
Information System
as Business Model (Google)
Information Market
as Business Model (HSX) Hollywood stock exchange
Diffusion Effect
With Advanced Internet –
Mobile technologies one
can reach more people
Bandwidth Effect
With Advanced Internet – Mobile Technologies with more bandwidth one can provide more ``rich`` information including video, audio, smell, touch.
