2 is the information technology the same or different

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Entrepreneurial Finance
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Chapter 2 / Exercise 011
Entrepreneurial Finance
Leach/Melicher
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(2) Is the information technology the same or different across competing organisations?(3) Is it difficult for another organisation to create or acquire the information technology used by the organisation?MNG2601/MO001/473
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Entrepreneurial Finance
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Chapter 2 / Exercise 011
Entrepreneurial Finance
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TOPIC 2: PLANNINGWhen it comes to managing information technology, the key is to continuously improve and support the organisation’s core business and functions. In order for you to understand the “management” of information, and how it can assist managers in the decision-making process, we are going to discuss the basic functioning of an information system in the sections below.7.3 THE BASIC FUNCTIONING OF AN INFORMATION SYSTEMThe basic functioning of an information system can be best described by first defining the term “information system” and then looking at its basic components. Study Section 13.3 in your prescribed book to gain a deeper understanding of the basic functioning of an information system.7.3.1 Definition of an information systemBear in mind that data and information are different. Note the following definitions:Data. Data is raw, unanalysed numbers and facts about events or conditions from which information is drawn.Information. Information is processed data that is relevant to a manager.– Management information. This is information presented in a timely, accurate and relevant manner to a particular situation.Do you remember what a system is? We defined a system in Learning unit 1 as a set-up comprising subsystems that form a whole. An information system thus includes the people, procedures and other resources used to collect, transform, and disseminate information in an organisation.7.3.2 The basic components of an information systemThroughout this entire process, the information system makes use of hardware, software, and human resources to perform the basic activities as depicted in Figure 13.2 (in the prescribed book). These resources contribute to the information-processing activities.Hardware resourcesHardware resources include the physical components of a computer system. The four main categories of components are reviewed in Section 13.3.2 in the prescribed book. Software resourcesSoftware resources are the programs or detailed instructions that operate computers. These components are reviewed in Section 13.3.2 in your prescribed book.Did you KNOW?The first computer “bug” was a real bug.In 1947, engineers found a moth in Panel F, Relay #70 of the Harvard Mark 1 system. The computer was running a test of its multiplier and adder when the engineers noticed something was wrong. The 74
Learning unit 7: Information managementmoth was trapped, removed and taped into the computer’s logbook with the words: “first actual case of a bug being found.”Source:Facts-facts(nd)Human resourcesThe term “human resources” refers to people. In this context, human resources would be the people required for the operation of an information system. Refer to Section 13.3.2 in your prescribed book and review the various users of information.

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