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IS Ch. 1 Def.
Wade IS Ch. 1
| Term | Definition |
|---|---|
| Strategy | A coordinated set of actions to fulfill objectives, purposes, and goals, whose essence is setting limits on what the business will seek to accomplish. |
| Mission | Is a clear and compelling statement that unifies an organization's effort and describes what the firm is all about. |
| Business Strategy | A plan articulating where a business seeks to go and how it expects to get there. It is the means by which a business communicates its goals. |
| Cost Leadership | Results when the organization aims to be the lowest-cost producer in the marketplace. |
| Porter's Three Primary Strategies for Achieving Competitive Advantage | Cost Leadership, Differentiation, Focus |
| Differentiation | The organization will qualify its product or service in a way that allows it to appear unique in the marketplace. |
| Focus | Allows an organization to limit its scope to a narrower segment of the market and tailor its offerings to that group of customers. |
| Hyper competition model | Suggest that the speed and aggressiveness of the moves and countermoves in any given market create an environment in which advantages are rapidly created and eroded. |
| Organizational Strategy | Includes the organization's design as well as the choices it makes to define, set up, coordinate, and control its work processes. |
| Business Diamond | Identifies the crucial components of an organization's plan as its information/control, people, structure, and tasks. |
| Social Business Strategy | Is a plan of how the firm will use social IT, aligned with organization strategy and IS strategy. Including a vision of how the business would operate if it seamlessly and thoroughly incorporated social capabilities throughout the business. |
| Collaboration | Using social IT to extend the reach of stakeholders, both employees and those outside the enterprise walls. |
| Engagement | Using social IT to involve stakeholders in the traditional business of the enterprise. |
| Innovation | Using social IT to identify, describe, prioritize, and create new ideas for the enterprise. |
| Managerial Levers | Organizational, control, and cultural variables used by decision makers to effect changes in their organizations. |
| IS Strategy | Is the plan an organization uses to provide information services and allows a company to implement its business strategy. |
| Management Information System (MIS) | Organized Integration of hardware and software technologies, data, processes, and human elements. Is designed to produce timely, integrated, relevant, accurate, an useful information. |
| Components of MIS (List) | Data, Database, Process, and Information |
| Data | An input system that has internal and external sources. |
| Building a Social Business Strategy (List) | Collaboration, Engagement, and Innovation |
| Organizational Variables (List) | Decision rights, Business Processes, Formal Reporting Relationships, and informal networks. |
| Control Variables (List) | Availability of Data, Nature and Quality of Planning, Effectiveness of Performance Measurement and Eval Systems, and Incentives to do good work. |
| Cultural Variables | Comprise the values of the organization. |
Created by:
sfrase
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