Project management, strategy, benefits and value of information systems Flashcards

1
Q

Give a technical and behavioral definition of organization and then compare them.

A

Technical definition- Formal social structure that processes raw material to produce outuputs, with internal rules and procedures and a social structure.

Behavioral definition- A collection of right, previlleges, obligations and responsabilities that is delicately balanced over a period of time through conflict and conflict resolution.

Comparison- The technical definition describes how thousands of firms in competitive markets combine capital and labor with information technology, whereas the behavioral model describes how technology affects the organization’s inner workings.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What’s the microeconomic technical definition of organization?

A

This definition is a loop that refers to capital and work as being provided by the environment. These two are transformed into outputs in the production process and consumed by the environment creating a infinite loop.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Name the features of organizations.

A

Hierarchical structure, authority in system of impartial decision making, focus on efficiency, routines and business processes, organizational politcs, culture, environments and structures.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Correlate routines, bussines processes and firms

A

Routines are standard operating procedures, business processes are all the routines in a company, and a firm is a collection of business processes.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What’s meant with disruptive technologies?

A

Disruptive technology is an innovation that significantly alters the way that consumers, industries, or businesses operate. A disruptive technology sweeps away the systems or habits it replaces because it has attributes that are recognizably superior.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What are the 5 basic kinds of organizational structure?

A

Entrepreneurial, Machine Bureaucracy, Divisionalized Bureaucracy, Adhocracy and Professional Bureaucracy.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Explain the Transaction Cost Theory.

A

Firms seek to economize on transaction costs so by investing in IT they can do so making it worth for firms to transact with other firms rather then grow the number of employees.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Explain the Agency Theory.

A

Firms experience agency costs which rise as the firm grows. IT can reduce agency costs, making it possible for firms to grow without adding to the costs of supervising and without adding employees.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Explain the Porter’s Competitive Force Model and refer it’s importance in defining corporate strategies.

A

Porter’s Five Forces is a model that identifies and analyzes five competitive forces that shape every industry and helps determine an industry’s weaknesses and strengths. Five Forces analysis is frequently used to identify an industry’s structure to determine corporate strategy.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What are the 5 competitive forces?

A

Traditional Competitiors, Customers, New Market Entrants, Suppliers, Substitute Products and Services.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

How can companies deal with the competitive forces. Explain each strategy.

A

Low-cost leadership- Produce products at lower prices than competitors;

Product differentiation- Make products that change costumers experience;

Focus on market niche;

Strengthen customer and supplier relationships.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

How did the internet mold the competitiveness of the different markets?

A

The internet tranformed and threatened some industries, made rivalry more intense, created new entrants in the market and created new opportunities for building brands with loyal customer bases.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What’s the Value Chain Model?

A

A model that sees companies as a serie of activities that add value to products and also differentiates the functions that directly impact on the creation of a product, primary activities, and the ones that support those function, considered as the indirect costs of a business, the support activities.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What’s a value web?

A

A value web is the link between the value chain of a firm and it’s suplliers, distributors and customers.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

When outputs of some units are used as inputs to others we have?

A

Synergies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What name do we give to the activity for which a firm is world-class leader?

A

Core Competencies

17
Q

What challenges are posed by strategic IS?

A

Sustaining competitive advantage, aligning IT with business objectives and managing strategic transitions.

18
Q

Name each of the 12 basic steps in project management in IS.

A

1- define the project
2- list the tasks
3- estimate time and costs for each task
4- add up time and cost
5- shorten your project plan
6- draw a Gantt chart
7- calculate resource requirements over time
8- assess risk and prepare action plans
9- monitor progress
10- monitor costs
11- reschedule
12- review

19
Q

What’s a Gantt chart and what is its importance in project management?

A

Gantt charts help teams to plan work around deadlines and properly allocate resources. Project planners also use Gantt charts to maintain a bird’s eye view of projects. They depict, among other things, the relationship between the start and end dates of tasks, milestones, and dependent tasks.