Week One Flashcards
6 business objectives:
- Operational excellence
- New products, services, and business models
- Customer and supplier intimacy
- Improved decision making
- Competitive advantage
- Survival – competitive necessity
Operational excellence:
Improvement in efficiency to attain higher profitability
Using information systems and technologies
New products, services, and business models:
How company produces, delivers, and sells product or service to create wealth
Information systems are a major enabling tool to create
- New products
- New services
- Entirely new business models
Customer and supplier intimacy:
Serving customers well leads to customers returning
Intimacy with suppliers result in lower costs
Improved decision making:
Managers do not have the right information at the right time
Real-time data improves ability to make decisions
Poor outcomes raise costs, lose customers
Competitive advantage:
Delivering better performance
Charging less for superior products
Responding to customers and suppliers in
real time
Survival – competitive necessity:
Information technologies as necessity of business - Competitive Necessity
Keeping up with competitors
Information technology:
The hardware and software that a firm needs to achieve business objectives
Information system:
Set of interrelated components
Collect, process, store, and distribute information
Business Functions:
Input, Processing, Output, Feedback
Dimensions of Information Systems:
Organization, Management, Technology
Senior Management:
President, Vice Presidents, Provost,
Vice Provosts, Registrar, etc
Middle Management:
Scientists and Knowledge workers
Deans, Associate Deans,
Chairs, Professors
Operational Management:
Production and Service/Data workers
Administrators, Librarians,
Teaching Assistants
Sociotechnical view:
Optimal organizational performance achieved by jointly optimizing both social and technical systems used in production
Helps avoid purely technological approach
