Section 1 class notes - The Network Economy A new way of...

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The Network Economy     A new way of doing business o Management Information systems:      An organized collection of people,  procedures, databases and devices to provide routine information to  managers and decision-making.  It beginnings and ends with People Databases  Sampling To be good it has to be RANDOM Information system: Set of interrelated components that collect, manipulate, stores and  and objective  o Ponder these?      * What one should be able to answer in end! In what ways is our world moving into a networked economy? How is the networked economy “changing the rules?” What are the key elements of the networked economy? What is the infrastructure of the networked economy? What is the role of information technology in organizations?  Our changing world*     o Computer networks* o Internet/ World wide web* (Test question: T or F the internet and the world wide are synonyms – False) The world wide web is a part of the internet 
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o Electronic commerce  * It runs the way we do business  You can do everything online now days Decision need to make in business Pay bills, check email, surf the web o Network econ. * Enhanced, transformed, or new  economic relationships  based on computer  networks and  human knowledge People are the most important thing in business Everything comes back to ppl o Someone has to design, sell, and create.  You will fail in the business world if you do not think ppl are  important (“enhanced, transformed, or new”) 2 of 3 are has been’s only 1 new o take what’s been and make it better, easier to  accommodate our time, basis 1 st ) o Web time – web year*** What is a web time?? (Test question) Web year – 3 months    (need to be able to apply it. How many from 2003 to 2006) Ecommerce presents a lot of problems  Ownership process – (ongoing cycle)     Think about the process of purchasing a camera  o Internet/ ecommerce has changed shopping Changed acquisition Changed requirements  Changed ownerships Is not as long  Tech changes so rapidly  Computers – CD’s – Tapes  How is this going to change us? o There will still be ppl! Changed retirement Problems with this What happens when there is a problem o Changing the Rules    
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change Industrial  Economy Networked  Economy Scarcity Land  capital Time Searching Paper  based, in  person Web-based Transactions Face to  face,  phone,  mail,  check,  cards e-mail, web, 
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This note was uploaded on 07/12/2010 for the course MIS 311 taught by Professor Cleveland during the Spring '10 term at University of Texas at Austin.

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Section 1 class notes - The Network Economy A new way of...

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