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MIS311F Exam 1 Material - MIS311F Exam 1 Notes Management...

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MIS311F Exam 1 Notes - Management Information Systems: An organized collection of people, procedures, databases and devices to provide routine information to managers and decision makers. - Industrial economy vs. Networked economy: - industrial economy: pre-computer age - networked economy: Enhanced, transformed, or new economic relationships based on computer networks and human knowledge; has changed our society and our way of conducting business - Computer networks - Internet/World Wide Web - Electronic commerce - Web year = 3 months real time; the time it would take online vs. real time The Networked Economy Areas of change Industrial economy Networked economy Scarcity Land, capital Time Search strategies Paper-based; in person Web-based Transactions Face to face; phone; mail; checks; cards Email; web; electronic payments Communication One to one Many to many Information storage Analog Digital Attendance Roll call Web based - elements of the networked economy: - networked economy triangle: - converting data to information: ** will be on exam** - data processing information - information is processed data (must have data before information!!) - infrastructure of the networked economy: - information technology: all forms of technology used to create, store, exchange, and use information in its various forms - hardware - software - programs - programs of the networked economy: - personal productivity software - organizational productivity - processing transactions - information technology in organization: - systems: IPO theory - input - processing - output - feedback - information systems (IS) - data, knowledge, information, decisions - information systems triangle: - data decisions transactions data, etc. continuous triangle - competitive advantage factors and strategies: - rivalry among existing competitors - threat of new entrants - threat of substitute product and services
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- bargaining power of buyers - bargaining power of suppliers - strategies for competitive advantage: - altering the industry structure - creating new products and services - improving an existing product lines and services - using information systems for strategic purposes Telecommunication - Telecommunications: System in which data or information are sent over some type of transmission medium (medium: anything that carries an electronic signal and interfaces between a sending and receiving devices) - Media Types: - Twisted-pair wire cable (Telephone) - earliest use of media - twisting minimizes the inerferance - high maintenance cost - deterioration - high frequency cost - speed limitations—can’t handle new service (like dsl) - Coaxial cable (Cable and Telephone) - hollow copper cylinder - single wire conductor - large bandwidth - transmits at a very high frequency - low signal loss or distortion - moderately expensive - ends bend badly - Fiber-optic cable (Higher Speed, Smaller) - media of choice - uses light instead of electricity - low maintenance - extremely high bandwidth - low signal attenuation - hair-thin size - costs much less to manufacture than wire on an equivalent capacity - expensive purchase and installation
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