ITM 100 Lecture Notes.docx - Marses Raguindin 2019 ITM 100 Lecture Notes Lecture 1 Information Systems in Business Today(Chapter 1[Slideshow Information

ITM 100 Lecture Notes.docx - Marses Raguindin 2019 ITM 100...

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Marses Raguindin2019ITM 100 Lecture NotesLecture 1: Information Systems in Business Today (Chapter 1) [Slideshow]Information Systems Importance: in business today Definition Scope: what it is and what it isn’t New Stuff in Management ISIT InnovationsoCloud computing, mobile digital platforms, big data, AI, the Internet of Things (IoT)New Business Models oViewers are unplugging from cable and using only the Internet for entertainment (Netflix)oCreating value for customers make moneyMake things easier for the customer to buy and interact with the productBuilding a strong relationship between customer and producerCheaper, customizable i.e. Uber, shipping services, online retail, online banking, teaching and learning oEmerging technologies + Innovation = New Business Model E-Commerce ExpandingoSelling services (intangible), not only goods (tangible) Management ChangesoOnline collaboration, Business Intelligence, Virtual meetingsChanges in Firms and OrganizationsoMultiple roles, social media to listen to consumers, more aware of technologies Globalization60% of the total income of countries come from exports Information systems allow globalization; supports new structures of businessIncreases accessibility between customer producer relationships Increases foreign trade, outsourcing Opportunities and challengesChallengesDifferent culturesLanguage barriers Different laws, ethicsInternal and external issuesOpportunitiesLower costsMore resources Better communication Greater environment for innovation The Emerging Digital Firm Suppliers CustomersSupply Chain Management (SCM) Customer Relationship Management Digital Firm: uses Supply Chain Management and Enterprise Resource PlanningThe Interdependence Between Organizations and Information Systems Firm (ERP)
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Marses Raguindin2019Relationship between how business strategies can be supported with information systems (and vice versa) Strategic Business Objectives of Information Systems 1.Operational Excellence oLooking at trends of what the customer wantsoi.e. Walmart Retail Link System: Links suppliers to store for superior replenishment system (supply chain management) 2.New Products, Services, and Business ModelsoBusiness Model How company produces, delivers, and sells product or service to create wealth3.Customer and Supplier Intimacy oCRM Customer needs and wants Customized higher sales oSCM cost goes down more profit 4.Improved Decusuin MakingoUses analysis methods of large amount of data i.e. AI, data analysisPredict the customer wants and needs5.Competitive Advantage oUse information systems to meet the customers wants better than competitors 6.Survival oA necessity if business’ survivaloDeals with new problems and better security up to date oi.e. ATMs What is an Information System?
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