IS study guide.docx - Chapter 1(The Importance of MIS...

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Chapter 1 (The Importance of MIS) Why is MIS the most important class in the business school? WHAT IS MIS?: What are the differences between routine and non-routine skills? - abstract reasoning: (analyze, apply learning to solve problems, detect patterns/relationships, form theories and construct models) - systems thinking : understanding the inter-relations of inputs, outputs, and components -collaboration - ability to experiment DIGITAL REVOLUTION: The Digital Revolution refers to the advancement of technology from analog electronic and mechanical devices to the digital technology available today. The era started to during the 1980s and is ongoing. The Digital Revolution also marks the beginning of the Information Era. EVOLVING CAPABILITIES: A robust stream of research describes which Information Systems (IS) human resource capabilities are core to exploiting IT successfully. Our core IS capabilities framework, for example, presents nine capabilities: leadership, informed buying, business systems thinking, relationship building, contract facilitation, architecture planning and design, vendor development, contract monitoring, and making technology work. Understand the five-component model. Review how to use five-component model especially in relation to ease (difficulty) of change and organizational disruption. -computer hardware, software, data, procedures, and people. -These five components are present in every information system Characteristics of data. data is recorded facts or figures . NECESSARY DATA CHARACTERISTICS: Accurate Timely Relevant (to context and to subject) Just sufficient Worth its cost Chapter 2 (Strategy and IS) Understand how five forces determine industry structure. five forces: bargaining power of customers, threat of substitutions, bargaining power of suppliers, threat of new entrants, and rivalry among existing firms. *the intensity of each of the five forces determines the characteristics of the industry, how profitable it is, and how sustainable that profitability will be. How industry structure determines competitive strategy? follow the five forces model with the model of competitive strategies (square where left side says industry-wide, and focus) top says (cost and differentiation) Understand Porter’s 5 Forces. 1. Five forces: bargaining power of customers strong force: toyota's purchase of auto paint (because Toyota is a huge customer that will purchase paint in large volume) weak force: your power over the procedures and policies of your university 2. Five forces: threat of substitutions strong force: frequent traveler's choice of auto rental

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