AEM1200_0211ToPost - AEM1200 Introduction to Business...

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Unformatted text preview: AEM1200, Introduction to Business Management. AEM1200, Wednesday 2/11 ICT and Business Information systems in business. The Internet revolution: “Does IT matter”? The Internet revolution: consequences. Changing Role of IT Changing 1970s= Data Processing 1980s= Information Systems 1990s= Information Technology 1995+= Knowledge Technology From Data to Wisdom From Data Facts and figures Data that can influence people’s choices and behavior. It relates Data to description, definition, or perspective (what, who, when, where). Information that is patterned so that it points to actionable Information strategy, practice, method, or approach (how). Knowledge that is compared and contrasted against a set of Knowledge principles, insights, morals, or archetypes (why). Information Knowledge Knowledge Wisdom Wisdom Types of Information Types Business Process Information Physical-world observations Biological data Public data (gov’t, business Public organizations) organizations) Data that indicates personal Data preferences or intentions (attempts at measuring people’s prefs) measuring Information Characteristics Information Quality Information is accurate and reliable Completeness There is just the right amount of information Timeliness Information is received quickly Relevance Information is tailored for individual specific needs Costs of Data Costs Acquisition cost Cost of obtaining data that you do not have; Cost of turning raw data into usable information; The cost of physically or electronically archiving The information for later use and retrieval; information The cost of accessing already-stored and processed The information; information; Cost of transmitting information from one place to Cost another. another. Processing cost Storage cost Retrieval cost Communication cost Hardware Hardware Computers Input / Output capability Processing capability Storage capability Internet - communication protocol Internet Intranet Extranet Virtual private networks Fiber optics Cable Cellular (wireless) Networking capability Telecommunications - how networks work Web-enabling Web-enabling The Story So Far The A New Kondratieff 1790-1840 1840-1910 1914-1945 1945-1995 1995- Steam and cotton Railroad and iron Chemicals and electricity Mass production Information technology The exhaustion of mass production Diminishing returns to scale Market failure and information mis-management IT’s transformation from a set of proprietary and heterogeneous systems into a shared and standardized infrastructure is a natural, necessary, and healthy process. It is only by becoming an infrastructure – a common resource – that IT can deliver its greatest economic and social benefits. economic Nicholas Carr, “Does IT Matter?” New Rules (From “IT Does not Matter”, Nicholas Carr, HBR, May 2003) Nicholas Spend less Diminishing returns to scale Follow, don’t lead Moore’s Law Focus on vulnerabilities, not on opportunities Disruptions on IT like disruptions on electricity or Disruptions other necessities. other Web 2.0 Web The internet is beginning to reorganize us We make Facebook profiles and Second Life avatars We and review books at Amazon and record podcasts. We blog about our candidates losing and write songs about getting dumped. We camcorder bombing runs and build open-source software… … Car companies are running open design contests. Reuters is carrying blog postings alongside its regular news feed. Microsoft is working overtime to fend off user-created Linux. We're looking at an explosion of productivity and innovation, and it's just getting started, as millions of minds that would otherwise have drowned in obscurity get backhauled into the global intellectual economy. From Time magazine, Dec. 13, 2006. Person of the Year Issue Issue IT & Management IT Human Resources What’s the right mix of telecommuting and presence? Data hacking Viruses and worms and other fauna… Phishing Corporate overlooking Recording of information Cookies Human error Malfunctioning software Overly complex marriage of software, hardware and Overly networking equipment networking Security Privacy Stability A New Golden Age? New Solow Paradox A New Economy? Broad increases in productivity Steady (not cyclical) increases in productivity Sustainable higher growth rates ii.e. 1.6 million injuries due to incorrectly prescribed .e. and filled medicines and Measurement problems? Service sectors productivity still an issue Takeaways Takeaways Information systems placed within computers, Information networks and telecommunications capabilities are at the core of the competitive advantage of businesses; businesses; There is an accelerated process to integrate There organizations seamlessly within the Internet, while maintaining safety and privacy; while Managing “Web-enabled” organizations presents Managing unique challenges. unique ...
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