MIS Review sheet Test 1

MIS Review sheet Test 1 - Management Information Systems An...

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Management Information Systems: An organized collection of: people, procedures, databases (communication) and devices to provide routine information to managers and decision makers; an organized collection of: communication, statistics, networked economy Industrial economy vs. Networked economy Networked economy : enhanced, transformed, or new economic relationships based on computer networks and human knowledge Web time – web year Internet and world wide web are not synonyms; www is just one part of the internet Web time- pass in one quarter (3 monts). Bandwith—talking in terms of speed Information is processed data? True. Data is processed information? False AREAS OF CHANGE INDUSTRIAL ECONOMY NETWORKED ECONOMY Scarcity: Land, capital Time Searching strategies: Paper-based, in person Web-based Transactions: Face-to-face, phone, mail checks, cards e-mail, web, electronic Communication: One-to-one Many-to-many Information storage: Analog Digital Attendance: Call roll Web-based The networked economy triangle: Center=Economic relationships o Computers (chip) o Connectivity (bandwith) o Knowledge (human) Converting Data to information: Data Processing Information Information technology: ALL FORMS of technology used to create, store, exchange, and use information in its various forms Information Technology in organizations: Systems: o Input o Processing o Output o Feedback Creative destruction: A term coined in 1942 by Joseph Schumpeter in his work, Capitalism, Socialism and Democracy, to denote a "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one." o Altering the industry structure, creating new products and services, improving existing product lines and services, using information systems for strategic purposes Transaction processing system o Transactions data entry Transaction processing organizational memory Information technology (IT) Information systems (IS) Transaction Processing system (TPS) Organizational memory (information systems cycle) Type Purpose Role Transaction processing system (TPS) Handles transactions and stores result in organizational memory Handle the present Organizational memory Stores data from TPS Remember the past Decision support systems Aids employees and managers to make decisions Prepare for the future Business process Purpose Activities Revenue process Generate revenue for organization Making a sale or accepting an order, shipping goods or providing services, sending invoices (bills) to the customer, or accepting payment at the time of the sale Expenditure process Handle the transactions associated with the payment of expenses associated with running the organization Purchasing, receiving and paying Conversion process Handle the transactions associated with the production of goods Performing work order preparation, material requisition,
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This note was uploaded on 04/27/2008 for the course M 325k taught by Professor Schurle during the Fall '08 term at University of Texas.

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MIS Review sheet Test 1 - Management Information Systems An...

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