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MIS 235- Exam #1 Review

MIS 235- Exam #1 Review - I Chapter 1 Information Systems...

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I. Chapter 1- Information Systems in the Life of Business Professionals A. Information System- Group of components that interact to produce information 1. Five-component framework Computer hardware, software, data, procedures, and people B. Management Information System (MIS)- Development an use of information systems that help business achieve goals and objectives 1. Development and Use 2. Information Systems 3. Business goals and objectives Responsibility of protecting/backing up the security and its data C. Information Technology (IT)- Methods, inventions, standards, and products 1. Raw Technology (hardware, software, data of an information systems *** Cannot Help achieve goals*** Has to go into IS (people, data, procedures) to become useful D. Competitive Advantage- A product or service that an organizations customers place a greater value on that similar offerings from a competitor 1. Think Creatively, not just technology advanced Ex) Amazon.com, Internet combined with existing database technology, enabled a new business model. E. New Opportunities for IS 1. Data and Storage costs are very low When important business resources become free, new opportunities for using that resource abound o Getty Images- Electronic pictures= low cost of data, storage, and ultimately zero production costs F. Moore’s Law- Number of transistors per square inch on an integrated chip doubles every 18 months 1. Price and performance ratio of computers has dramatically fallen Reason why data storage and transmission is free today G. IS Security 1. Liabilities- credit cards 2. Strong Passwords- 7 characters, no names, no words, different 3. Never right down or share I. Chapter 2- Business Processes, Information, and Information Systems A. Business Process- A network of activities, resources, facilities, and information that interact to achieve some business function 1. Activities- Transform resources and information of one type into another. *** Manual or Automated*** 2. Resources- Items of Value. Ex) Milk and Cash Used by Suppliers and customers.
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