Module 1 - The Digital World & Business Process Modelling Flashcards
Chapter 1, 3.4 and 4
Big Data
Large quantities of structured and unstructured data that provide useful information but are often too vast or complex to process using traditional methods
Business Model
Describes how a company produces, delivers and sells a product or service to create wealth
Business processes
Logically related tasks and behaviours for accomplishing work (e.g. developing a new product, fulfilling an order and hiring a new employee)
Change management
the many techniques used to bring about successful change in a business
Cloud computing
A centralised system for storing, managing and processing data across the internet using a network of remote computing centers
Computer hardware
The physical equipment used for input, processing, and output activities in an information system.
Consists of: computers of various sizes and shapes, various input, output, and storage devices
Computer literacy
Focuses primarily on knowledge of information technology
Computer software
the detailed, preprogrammed instructions that control and coordinate the computer hardware components in an information system
Critical thinking
The sustained suspension of judgment with an awareness of multiple perspectives and alternatives.
Involves at least:
1. Maintaining doubt and suspending judgment
2. Being aware of different perspectives
3. Testing alternatives and letting experience guide
4. Being aware of oganisational and personal limitations
Culture
Fundamental set of assumptions, values and ways of doing things that has been accepted by most of its members.
Data
Streams of raw facts representing events occurring in organisations or the physical environment before they have been organised and arranged into a form that people can understand and use
Data management technology
Consists of the software governing the organisation of data on physical storage media
Extranets
Private intranets extended to authorised users outside the organisation
Feedback
Output that is returned to appropriate members of the organisation to help them evaluate or correct the input stage
Information
Data that has been shaped into a form that is meaningful and useful to human beings
Information systems literacy
Includes a behavioural as well as technical approach to studying information systems
Information Technology (IT)
consists of all the hardware and software that a firm needs to achieve its business objectives
Information technology (IT) infrastructure
provides the foundation/platform on which the firm can build its specific information systems
Input
Captures/collects raw data from within the organisation or from its external environment
Internet
A global network of networks that uses universal standards to connect millions of networks in more than 230 countries around the world
Internet of Things (IoT)
A network of physical objects (“things”) that are embedded with sensors, softwares and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet
Intranets
Internal corporate networks based on Internet technology
Management information systems (MIS)
tries to achieve broader information systems literacy. MIS deals with behavioural issues and technical issues surrounding the development, use, and impact of information systems that managers and employees in the firm use
Network
Links two or more computers to share data or resources (e.g. a printer)
Networking and telecommunications technology
Both physical devices and software. Links the various pieces of hardware and transfers data from one physical location to another.
Output
Transfers the processed information to the people who will use it or to the activities for which it will be used
Processing
Converts raw input into a meaningful form by classifying, arranging and performing calculations on it
World Wide Web
A service the internet provides that uses universally accepted standards for storing, retrieving, formatting and displaying information in a page format on the Internet
List and describe the seven reasons information systems are so important for business today.
- Operational excellence
- New products, services and business models
- customer/supplier intimacy
- improved decision making
- competitive advantage
- day to day survival
- meeting ESG goals
Describe the challenges and opportunities of globalization.
What is managerial effectiveness directly linked to?
How well a manager understands the relationship between a firm’s ability to use information technology and its ability to implement corporate strategies and achieve corporate goals.
Due to which strategic business objectives do business firms heavily invest in information systems? (7)
- operational excellence
- New products, services and business models
- customer and supplier intimacy
- improved decision-making
- competitive advantage
- survival
State and describe the three functions in an information system that produce the information that organisations need to make decision, analyse problems and create new products/services.
- Input (captures raw data from within the organisation or from its external environment
- Processing (converts raw input into meaningful form)
- Output (transfers the processed information to the people who will use it/ activities for which it will be used)
Distinguish between a computer and a computer program
Computers: provide the equipment for storing and processing information
Computer programs/softwares: sets of operating instruction that direct and control computer processing
What is the information systems literacy?
A broader understanding of information systems, which encompasses an understanding of the management and organisational dimensions of systems and technical dimensions of systems
What dies computer literacy focus on
focuses primarily on knowledge of information technology
What do Management Information systems (MIS) focus on
MIS tries to achieve this broader information systems literacy and deals with behavioural issues and technical issues surrounding the development, use, and impact of information systems used by managers and employees in the firm.
Levels in a firm
State and describe the major business functions
What do managers do?
- make sense of the situations faced by organisations
- make decisions
- formulate action
- solve organisational problems
- create new products and services (or even recreate organisation from time to time)
Forms of information technology
- Computer hardware
- Computer software
- Data management technology
- Networking and telecommunications technology