MIS CH1

MIS CH1 - Chapter 1 Discussion Questions 1. List and...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 1 Discussion Questions 1. List and describe the six business objectives of information systems. 1. Operational excellence – businesses always seek to improve the efficiency of their operations in order to achieve higher profitability. Information systems and technologies are some of the most important tools available to managers for achieving higher levels of efficiency and productivity in business operations, especially when coupled with changes in business practices and management behavior. 2. New products, services, and business models – Information systems and technologies are a major enabling tool for firms to create new products and services, as well as entirely new business models. A business model describes how a company produces, delivers, and sells a product or service to create wealth. 3. Customer and supplier intimacy – When a business really knows its customers and serves them well, the way they want to be served, the customers generally respond by returning and purchasing more. This raises revenues and profits. Likewise with suppliers: the more a business engages its suppliers, the better the supplier can provide vital inputs. 4. Improved decision making – Many business managers operate in an information fog bank, never really having the right information at the right time to make an informed decision. Instead managers rely on forecasts, best guesses, and luck. The result is over or underproduction of goods and services, misallocation of
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 11/24/2010 for the course MGT MIS taught by Professor Nicholson during the Spring '10 term at Rowan.

Page1 / 3

MIS CH1 - Chapter 1 Discussion Questions 1. List and...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online