Midterm Notes 2 - 1. why info tech? IT is everywhere in...

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1. why info tech? IT is everywhere in business – understanding IT provides great insight to anyone learning about business 3. primary IT project goals: reduce costs/improve productivity, improve customer satisfaction/loyalty, create competitive advantage, generate growth, streamline supply chain, global expansion 4. how does a business operate? Functional areas/silos, which each area undertakes a specific core business function. Interdependent. Must know IT basics, roles in IT, measure IT’s success 5. 3 organizational key resources: people, info, IT 6. business intelligence acquired: refers to applications and technologies that are used to gather, provide access to, and analyze data and information to support decision-making efforts = help make better business decisions 7. department not found in most businesses? 8. name of company’s internal IT department? IT, IS, MIS 9. primary requirements if management wants to build new IT systems? Efficiency IT metrics (measures performance of IT with throughput, speed, availability) and effectiveness IT metrics (measures impact of IT on customer satisfaction, conversion rates, sell-through increases) 10. data: raw facts that describe characteristics of an event. Date, item number, item description, quantity ordered, customer name, shipping details 11. understand Port’s 5 Forces Model: helps determine relative attractiveness of an industry when trying to decide to enter new industry or segment buyer power: loyalty programs, reward customer supplier power: bargaining power of suppliers, alternative supply sources threat of substitute products/services: switching costs, competitive advantages threat of new entrants: first-mover advantage rivalry among existing competitors: gather info to create price strategy 12. first-mover advantage: an org can significantly impact its market share by being first to market with a competitive advantage 13. efficiency IT metrics: measure performance of IT system itself such as throughput, speed, availability. 14. metrics describe customer satisfaction? Effectiveness IT metrics 15. CIO chief info officer: oversseing all uses of IT, ensuring strategic alignment of IT with business goals/objectives – manager, leader, communicator. Enhancing customer satisfaction. report to CEO 16. CTO chief tech officer: ensuring the throughput, speed, accuracy, availability, reliability of org’s IT – know aspects of IT, hardware, software, telecommunications, report to CIO 17. slice-and-dice capability: ability to look at info from different perspectives 18. expert systems is the Most commonly used AI 19. understand AI, simulates human intelligence like the ability to reason and learn. Used to gain info from experience and project and adjust to future advantages. Includes expert systems, neural networks, genetic algorithms, intelligent agents 20. waiting-in-line at grocery business process(standardized set of activities that accomplish a specific task, like processing an order) called checkout
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This note was uploaded on 09/08/2010 for the course BUS 188 at San Jose State University .

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Midterm Notes 2 - 1. why info tech? IT is everywhere in...

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