IITEC39 Flashcards
helping people perform all tasks related to information processing and management.
Management information system
collective information that supports important, strategic decision maki
Business intelligence
knowing how/when to apply technology
Technology literacy
knowing how to use information
Ethical responsibilities
Information literacy
People are the most important resource in any organization.
MIS RESOURCE
( financial impact of information technology ) costs you incur even if you don’t sell anything
Fixed costs
( financial impact of information technology ) costs you incur when you sell something (COGS)
variable costs
( financial impact of information technology ) how much you sell one unit for
revenue
( financial impact of information technology ) under of reduce fixed costs.
- Digital Storefronts
- Telecommuting
- VoIP, or Voice over IP
- Cloud computing
( financial impact of information technology ) under of reduce variable costs.
- Virtual goods
- Crowdsourcing
( financial impact of information technology ) increase revenue
- Recommendation Engines
- Long-Tail Economics
it helps business people understand the relative attractiveness of an industry and the industry’s competitive pressures.
five forces model
high when buyers have many choices and low when their choices are few
buyer power
high when buyers have few choices and low when choices are many
The inverse of each other
supplier power
high when there are many alternatives for buyers
Threat of substitute products and service
high when it is easy for competitors to enter the market
Threat of new entrants
high when competition is fierce
Rivalry among existing competitors
( STRATEGY IMPACT OF INFORMATION TECHNOLOGY ) focusing on offering products or services to a particular segment or buyer group, within a segment of a product line, to a specific geographic market, etc
Focus
( STRATEGY IMPACT OF INFORMATION TECHNOLOGY ) offering a product or service that is perceived as being “unique” in the marketplace
Differentiation
( STRATEGY IMPACT OF INFORMATION TECHNOLOGY ) offering the same or better quality product or service at a price that is less than what any of the competition is able to do
Cost leadership
the allocation in terms of percentages of IT dollars on various types of business strategies
Run-grow-transform (RGT) framework
tracks inventory and information among business processes and across companies
Supply chain management (SCM)
IT system that supports supply chain management
Supply chain management (SCM) system
method for producing or delivering a product or service just at the time the customer wants it
Just-in-time (JIT)
