IT: Chapter 2: Global E-Business and Collaboration Flashcards
Business
a formal organization whose aim is to produce products or provide services for a profit
Strategic Choice
determines your likely customers, the kinds of employees you will need, production methods and facilities needed, the marketing themes and many other choices
ABBREV: Four basic business functions
MSFH
Four Basic Business Functions
Manufacturing and Production
Sales and Marketing
Finance and accounting
Human Resources
Manufacturing and Production business process
Assembling the product
Checking for Quality
Producing bills of materials
Sales and Marketing business process
identifying customers
Making customers aware of the product
Selling the product
Finance and Accounting business process
Paying creditors
Creating financial statements
Managing cash accounts
Human Resources business process
Hiring employees
Evaluating employees’ job performance
Enrolling employees in benefits plan
ABBREV: Five Basic Business Entities
SCEIP
Five Basic Business Entities
Supplier Customers Employees Invoices/payments Products and services
Business process
logically related set of tasks that define how specific business tasks are performed
Functional
require coordination across departments
Cross-functional
interactions ex, fulfilling customer order
Senior Management
makes long-range strategic decisions about products and services as well as ensures financial performance of the firm
Middle Management
carries out the programs and plans of senior management
Operational Management
Responsible for monitoring the daily activities of the business
Knowledge workers
Designs products and services and create new knowledge for the firm
Data Workers
assists with administrative work at all levels of the firm
Production or service workers
actually produce the product and deliver the service
ABBREV: Levels in a Firm
SMO
Levels in a Firm
Senior Management Middle Management (Scientists and knowledge workers) Operational Management (Production and service workers, data workers)
To stay in business, a firm must
monitor changes in its environment of every business
Businesses fail because
they failed to respond adequately to changes in environments
To be successful, an organization must constantly
monitor and respond to developments in the environment
ABBREV: Global Environmental factors
TEPI
Global Environmental Factors
Technology and Science
Economy
Politics
International Change
ABBREV: Immediate environment factors
CSCRS
Immediate environment factors
Customers Suppliers Competitors Regulations Stockholders
Systems for Management Decision Making and Business Intelligence
Transaction Processing Systems
Systems for business intelligence
Transaction Processing Systems (TPS) defintion
a computerized system that performs and records the daily routine transactions necessary to conduct business
Example of TPS
payroll processing
Business intelligence definition
a contemporary term for data and software tools for organizing, analyzing, and providing access to data
Systems for business intelligence
focus on delivering information to support management decision making
ABBREV: Types of Systems Business Intelligence
MDE