Final Exam Notes

Final Exam Notes - Intro to Business Notes Part 3D:...

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Unformatted text preview: Intro to Business Notes Part 3D: Information Systems and Operations Management Information Systems Introduction o Information technology (IT) is used by most businesses to develop new strategies, enhance employee productivity, and improve services to customers o IT is more important because our economy is service based Managing Information o data : numerical or verbal descriptions related to statistics or other items that have not been analyzed or summarized o knowledge : an understanding of data gained through study or experience o information : meaningful and useful interpretation of data and knowledge that can be used in making decisions o effective information management is crucial o Management Information Systems management information system (MIS): used for organizing and transmitting data into information that can be used for decision making MIS breaks down time and location barriers, making information available when and where it is needed to solve problems o Collecting Data MIS must be able to collect data, store and update data, and process and present information database : a collection of data stored in one place and accessible through a network The Internet o internet : global information system that links many computer networks together o has profoundly altered the way people communicate, learn, do business, and find entertainment o intranet : a network of computers similar to the internet that is available only to people inside and organization o extranet : a network of computers that permits selected companies and other organizations to access the same information and may allow collaboration and communication about the information allows users to share data, process orders, and manage information o Internet Uses mainly used for communication, information, and e-business Emerging Technologies wireless mesh networks are answering the need for more product differentiation and diverse technological advancements radio frequency identification (RFID) systems us radio waves to identify and track resources and products within the distribution channel E- Business o The Nature of E-Business E-business : carrying out the goals of business through utilization of the internet e-commerce includes activities such as conducting marketing research, providing and obtaining price and product information, and advertising, as wll as online selling internet markets are more similar to traditional markets than they are different since the internet lowers the cost of communication, it can contribute significantly in any industry or activity that depends o the flow of information o E-Business Models Business-to-business (B2B): use of the internet for transactions and communications between organizations internet is particularly important in B2B relationships, where uncertainties are being reduced by improving the quantity, reliability, and timeliness of information business-to-consumer (B2C):...
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This note was uploaded on 03/17/2009 for the course BCOR 1010 taught by Professor Latier,jef during the Fall '07 term at Colorado.

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Final Exam Notes - Intro to Business Notes Part 3D:...

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