Module 1&2- information system and Information Technology Flashcards
primary component categories in a CBIS
Computer based information system
- people
- processes
- hardware
- software
- networks
- data
EIS
Executive information systems- Allows senior management to take decisions to meet the strategic goals of the organization. gets information externally
DSS
Decision support systems: information system that supports business or organizational decision making activities
MIS
Management information systems: is a combined network of hardware and software cooperating to collect, process, store and distributes information to support the managerial role to increase business values and profits
IT
Information Technology; hardware software, networks, data
IS
Information systems; all of IT and people, processes.
reasons why Businesses invest in IS
- Achieve operational exellence
- Develop new products and services
- Attain customer intimacy and service
- inprove decision making
- Promote competitive advantage
- Ensure long term survival
- Develop strong relationships”
how does IS help HR
- recruiting and training, -employee benefits and regulations management
- employee records
How does IS Production and operations
- product life cycle, manufacturing,
- inventory management, quality control
- Research and development
How does IS help Accounting and finance
- Accounts payable, accounts receivable, -Budgeting, general ledgers, payroll
- cash flow, financial transactions
How does IS help sales and marketing
- Sales analysis
- set pricing, marketing mix and product promotions,
- customer profiling
porters 5 forces
- threat of new entrants
- Threat of substitutes
- Power of customers
- Power of suppliers
- competitive rivalry
Network based strategies
- network economics
- Virtual company model
- Business ecosystems
Network Economics
The cost of adding another business participant to a business venture is small, and the potential gain is great.
Virtual company model
Networks of people and resources join together to provide a service or create a product without the traditional storefront boundaries.
EIS
Executive information systems: specific class of DSS that support the strategic decision-making process of top-level executives. An example of an executive information system is a digital dashboard, which displays charts and graphs showing up-to-the-moment performance indicators on sales, profit, expenses, and inventory on an executive’s computer.
DSS
Decision support systems: focus on supporting all phases of specific decision-making processes and procedures for arriving at a solution. developed to handle unstructured problems at all levels
MIS
Management Information Systems:represent a category of information systems that serve lower to middle managers. provide performance reports based on the results from transaction processing systems, such as product cost data, sales data, and expense data.
TPS
Transaction Processing systems: collect, store, update, and retrieve transaction data within an organization. automating and recording routine business transactions that are too tedious and monotonous for front-line employees to process manually in an effective and efficient manner.
CRM
Customer Relationship Management: use technology to merge marketing with business processes to strengthen customer relationships and organize customer information. CRM begins with marketing to earn customers.manages the customer relationship, often in a very personal way, to develop a long-term relationship with that customer. (Externally focused)
SCM
Supply chain Management: works to increase the efficiency of the process of getting materials developed into the products and pushed out to the customer. Supply chain management (SCM) software provides tools to help the business manage supplier relationships, develop strategies to ensure quality products or services, create production schedules, procedures for returning defective products, and delivering the product or service to the customers.
ERP
Enterprise Resource planing system: combines main core business system and application into comprehensive system
- often in real time
- more internally focused on the business functions
network economics
The cost of adding another business participant to a business venture is small, and the potential gain is great.
Business Ecosystems
A network of businesses, such as suppliers and distributors, are involved in providing delivery of a service or product through cooperation. The ecosystem must be flexible and adaptable to meet market demands.
4 aspects involved in risk management
- Risk Assessment
- Cost/benefit analysis
- vulnerability assessment
- implementation
Information management
information management is concerned with collecting, managing, manipulating, organizing and reorganizing, and distributing information from a variety of sources to a variety of audiences.
KMS
Knowledge management system;
- intellectual capital
- needs to be dispersed throughout the organization
- use information and systems to spread the knowledge.
- how to tool
