Midterm Flashcards
Why dose a business exist ?
Profit
Six Strategic business objectives of MIS
operational excellence New products,services and business model customer and supplier intimacy improved decision making commutative advantage survival
Operational excellence
Improvement of efficiency and again higher profitability
New products, services and business models
Information systems and technology, a major enabling tool for new products, services and business models
Improve decision making
- without accurate information managers must use forecast, best guesses and luck
Competitive advantage
Having an edge over competition with better products or lower costs which usually is limited to a period of time.
Survival
Insures that the company keeps up with competition and survives
Business model
Describes how a company produces, delivers and sells a product to create wealth
3 components of Information technology capital investment
doesnt always translate into increase benefits
investment must be analyzed on a cost/benefit basis
Complementary assets must be considered as well
Complementary Assets
Assets required to derive value from primary investments
Three activities in information systems
Input
processing
output
what use of information systems because of necessity describes the business objective of ?
Survival
The three activities of information systems that produce the information organizations use to control operations are
input
processing
output
The internet has reduced the economic advantages of
developed countries
software that manages the resources of the computer is called
Operating system
