Test 1 Flashcards
Distributive technology
A new way of doing things hat does not meet the needs of existing customers. Tend to open new markets
Sustaining technology
Produces an improved product
Reasons for growth of the World Wide Web.
Microcomputer revolution
Advancements in networking
Easy to use browsers
Speed of email
Paradigm shift
When a new radical form of business enters the market that reshapes the way companies behave
Advantages of ebusiness
Expanding global reach
Opening new markets
Reducing costs
Improving effectiveness
Taxonomy
Classification of organisms into groups based on similar origin
Challenges of ebusiness
Identifying limited markets
Managing consumer trust
Ensuring consumer protections
Adhering to taxation rules
Web 2.0
Next generation of Internet used characterized by collaboration, sharing, and free
Four characteristics of Web 2.0
Content sharing
User contributed content
Collaboration inside
Collaboration outside
Real simple syndication
A web format used to publish updated works
Challenges of web. 2.0
Technology dependence
Information vandalism
Copyright
Managerial decision making challenges
Large amounts of info
Apply analysis technique
Make decisions quickly
The decision making process
Identify problem Data collection Solution generation Solution test Solution selection Solution implement
Metrics
Measurements that evaluate results to determine whether a project is meeting its goals
Critical success factors
Crucial steps companies perform to achieve their goals
Ex: create high quality products, reduce product costs
Key performance indicators
Metrics a company uses to evaluate profess toward CSF
Ex: number of product returns, number of new customers
Efficiency metrics
Measures performance of MIS
Ex: throughout, transaction speed, system availability, info accuracy, response time
Effectiveness
Measures impact of MIS on business processes
Ex: customer satisfaction, customer conversion rates, usability, financial
Transaction processing system
The business system that assists with structured decisions
Ex: payroll, order entry
Analytical information
Encompasses all organizational info and supports semistructered decisions
Ex: sales, product trends, growth projections
Granularity
Refers to the level of detail in the model or decision making process
Digital dashboards
Tracks KPIs and CSFs by compiling info from multiple sources and tailoring to meet user needs.
Ex: a graph of stock market prices, list of outstanding alerts
