ITEC39 (Sir Anonuevo) Flashcards
helping people perform all tasks related to information processing and management.
Management information systems (MIS)
is often aggregated data that has meaning such as average age, youngest and oldest customer, and a histogram of customer ages
Information
collective information that supports important, strategic decision making
Data-driven insights for strategic decisions.
Business intelligence
are the most important resource in any organization
People
knowing how/when to apply technology
Technology literacy
knowing how to use information
Information literacy
costs you incur even if you don’t sell anything
Operational expenses persist regardless of sales
Fixed costs
costs you incur when you sell something (COGS)
Variable costs
how much you sell one unit for
Revenue
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
Strength varies based on buyer options; impacts negotiation leverage
Supplier power
high when there are many alternatives for buyers
Threat of substitute products and services
high when it is easy for competitors to enter the market
Threat of new entrants
high when competition is fierce
Rivalry among existing competitors
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
