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

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
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
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
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): delivery of products and services directly to individual consumers through the internet
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern