IS 300 exam 1 study guide.pdf - IS 300 Exam 1 Chapter 1 Management Information Systems New Technology 1 Cloud computing 2 Big data 3 Internet of things

IS 300 exam 1 study guide.pdf - IS 300 Exam 1 Chapter 1...

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IS 300 - Exam 1 Chapter 1 Management Information Systems New Technology 1. Cloud computing 2. Big data 3. Internet of things 4. Mobile digital platform Management - managers use social networks, collaboration - Business intelligence (BI) applications accelerate - Virtual meetings proliferate Organizations - social business - Telework gains momentum - Co-creation of value, collaboration across firms Globalization Challenges and Opportunities - internet and global communications have greatly reduced economic and cultural advantages of developed countries - Reduction of costs of operation and transacting on global scale - Competition for jobs, market, resources, ideas - Dependence on imports and exports - Requires new understanding of skills, markets, opportunities Business Drivers for IS - invest in IT to achieve 6 business objectives 1. Operational excellence 2. New products, services, and business models 3. Customer and supplier intimacy 4. Improved decision making 5. Competitive advantage 6. Survival What is IS? Information technology: the hardware and software a business uses t achieve objectives Information systems: interrelated components that manage information to - - support decision making and control - help with analysis, visualization and product creation Data: streams of raw facts Information: data shaped into meaningful, useful form Activities in an IS that product information: - Input - Processing - Output - Feedback 1
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Problem-Solving Approach Few business problems are simple and straightforward Business problems involve an number of major factors that call into 3 main categories: - Organization - Technology - People 4 steps 1. Problem identification 2. Solution design 3. Choice 4. Implementation 2
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Chapter 2 Organizing a Business: Basic Business Functions Business: formal organization that makes products or provides a service in order to make profit 4 basic business functions - manufacturing and production - Sales and marketing - Finance and accounting - Human Resources 5 basic business entities - Suppliers - Customers - Employees - Invoices/payments - Product and services Business Processes Business processes: logically related set of tasks that define how specific business tasks are performed - task fo each employee performs, in what order, and on what schedule - ex. Steps in hiring an employee Some processes tied to functional area - sales and marketing — identifying consumers Some processes are cross-functional - Fulfilling consumer order How IT Enhances Business Processes - automation of manual processes - Change the flow of information - Replace sequential processes with simultaneous activity - Transform how a business works - Drive new business models Managing a Business and Firm Hierarchies Firms coordinate work of employees by developing hierarchy in which authority is concentrated at top - Senior management - Middle management - Operational management - Knowledge workers - Data workers - Production or service workers Each have different needs for information The Business Environment Businesses depend heavily on their environment for capital, labor, supplies, etc Global Environment - technology and science, economic, politics, international change 3
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