88%(16)14 out of 16 people found this document helpful
This preview shows page 15 - 17 out of 160 pages.
5. Describe the differences between Information Technology (IT) and Information Systems (IS)FieldWhat types of technologies do each oversee?6. Identify the 7 Major Reasons Firms Invest in Information SystemsBenefit7. Data…Information…KnowledgeBenefits to the OrganizationOrganizational Effectiveness
Levels of Data QualityDescriptionDatafacts and statistics collected together for reference or analysisInformationfacts provided or learned about something or someoneKnowledge8. What are examples of how the following functional areas utilize Information Systems?ForcesDescriptionThreat of New Entrantsa new business coming into the marketThreat of Substituteslots of choices for consumers for a productPower of CustomersWhen consumers have many options for where to buy a producPower of Supplierswhen a supplier of a product has full control over the marketCompetitive RivalryWhen there are many competitors in an industry10. Network-based StrategiesStrategyDescriptionNetwork EconomicsVirtual Company ModelBusiness Ecosystems