IS In Global Business

Question 1

What’s new In MIS today?

Answer 1

IT Innovations
New Business Models
E-Commerce Expansion
Management Changes
Firms and organization change

Question 2

Time Shifting

Answer 2

Business can be conducted at any time

Question 3

Space Shifting

Answer 3

Business can be done at any place

Question 4

6 Strategic business objectives that firms invest heavily in IS to achieve

Answer 4

1. Operational Excellence: more efficiency and productivity for higher profits
2. New Products, Services, and Business Models: can create more products with new tech, and this may change their business model.
3. Customer and supplier intimacy
4. Improved decision making
5. Competitive Decision Making
6. Survival

Question 5

What is business?

Answer 5

Organization where goods and services are exchanged for one another or for money.

Question 6

Key components of a Business

Answer 6

Product, Goods, and Services
Customers
Management and Operations
Investment and Sustainability
Profit, Return

Question 7

What is an organization?

Answer 7

Formal social structure that processes resources from environment to produce outputs

Formal Legal entity with internal rules

Behavioral Definition: Collection of rights, privileges, obligations, and responsibilities balanced over a period of time through conflict and conflict resolution

Question 8

Components and Characteristics of an Organization?

Answer 8

Use of hierarchy
Separation of business functions
Goals, Management, and Leadership styles
Accountability, authority` in system of impartial decision making
routines and business processes
Organizational politics, culture, environments and structures.