Information and change

Question 1

Data

Answer 1

raw material for data processing

Question 2

Information

Answer 2

data that has been processed

Question 3

Knowledge

Answer 3

potential for action based on data, info, intuition and experience

Question 4

Explicit knowledge

Answer 4

knowledge the company knows it has

Question 5

Tacit knowledge

Answer 5

personal knowledge and expertise owned by people w/in a company

Question 6

Knowledge mgt

Answer 6

range of strategies and tools used to capture all value knowledge to an organisation

Question 7

Information systems (IS)

Answer 7

incl. all systems and procedures involved in the collection, storage, production and distribution of infomation

Question 8

Information technology (IT)

Answer 8

equipment used to capture, store, transmit or present information

Question 9

Information management

Answer 9

approach and organisation takes towards the mgt of tis info systems

Question 10

Benefits of proposed information system

Answer 10

~ increased revenue
~ cost reduction
~ enhanced service
~ improved decision making e.g. forecasting, dev scenarios, market analysis

Question 11

IT/IS + Operations

Answer 11

~ process controls e.g. precent over production
~ machine tool controls
~ advanced manufacturing technology (AMT)
~ computer aided manufacturing (CAM)
~ computer integrated manufacturing (CIM)
~ enterprise resource planning (ERP)

Question 12

IT/IS + Logistics

Answer 12

~ stock control systems
~ warehousing e.g. barcodes - quantities of stock
~ stock control systems e.g. MRP

Question 13

IT/IS + Marketing

Answer 13

~ buying + analysing a mailing trip
~ market research to monitor customer consumption habits
~ EPOS systems - hr by hr idea of how products are selling

Question 14

IT/IS + Service

Answer 14

e.g. customer relationship mgt (CRM) systems

Question 15

IT/IS + Support acitivites

Answer 15

Procurement: IT can automate purchasing decisions in supply chain mtg (SCM)

Question 16

Enterprise resource planning (ERP)

Answer 16

systems are used for identifying and planning enterprise-wide resources

Question 17

IT system risks

Answer 17

~ insufficient time and money
~ insufficient user input
~ lack of flexibility
~ lack of user training
~ inadequate system maintenance