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MIS Wake forest
slides for final
| Question | Answer |
|---|---|
| Describe the emerging digital firm | business relationships are digitally enabled, business processes through digital networks, corporate assets managed digitally, flexibility in organization and management with time shifting, space shifting |
| What is the role of information systems today? | Information systems are transforming business with wireless technology, Web sites, Web 2.0 technologies (Cloud computing, mobile digital platform, and collaboration). The Internet has reduced costs of global business. |
| Provide an example of a company that demonstrates the blend of technical and behavioral approaches to information systems. | |
| Do you think that the growing dependence on social networking sites to maintain or start business relationships decreases the personal element of communication? | |
| • Understanding how to use technology as exceptionally important in realizing increased returns based on IT investment. What tactics prove most effective in motivating sometimes large bodies of employees to move with newer, technology driven, protocol? | |
| six strategic business objectives | Operational excellence New products, services, and business models Customer and supplier intimacy Improved decision making Competitive advantage Survival |
| Operational excellence: | Improvement of efficiency to attain higher profitability Walmart’s RetailLink system links suppliers to stores for superior replenishment system |
| New products, services, and business models | Business model: describes how company produces, delivers, and sells product or service to create wealth Information systems and technology a major enabling tool for new products, services, business models |
| Customer and supplier intimacy: | Serving customers well leads to customers returning, which raises revenues and profits Intimacy with suppliers allows them to provide vital inputs, which lowers costs |
| Improved decision making | Without accurate information: Managers must use forecasts, best guesses, luck Leads to: Overproduction, underproduction of goods and services Misallocation of resources Poor response times Poor outcomes raise costs, lose customers |
| Competitive advantage | Delivering better performance Charging less for superior products Responding to customers and suppliers in real time Examples: Apple, Walmart, UPS |
| Survival | Information technologies as necessity of business May be: Industry-level changes, e.g. Citibank’s introduction of ATMs Governmental regulations requiring record-keeping |
| Information system: | Set of interrelated components Collect, process, store, and distribute information Support decision making, coordination, and control |
| Three activities of information systems produce information organizations need | Input: Captures raw data from organization or external environment Processing: Converts raw data into meaningful form Output: Transfers processed information to people or activities that use it then feedback! |
| Feedback | Output returned to appropriate members of organization to help evaluate or correct input stage |
| Functions of an Information System | Input, processing, and output produce information Feedback returned to ppl to evaluate and refine the input. Environmental actors, such as customers, suppliers, competitors, stockholders, and regulatory agencies, interact with the organization. |
| Perspectives on Information Systems | Using information systems effectively requires an understanding of the organization, management, and information technology shaping the systems |
| Organizational dimension of information systems | Hierarchy of authority, responsibility Senior management Middle management Operational management Knowledge workers Data workers Production or service workers |
| Levels in an organization | senior management, middle management, and operational management. Information systems serve each of these levels. Scientists and knowledge workers often work with middle management. |
| Separation of business functions | Sales and marketing Human resources Finance and accounting Manufacturing and production |
| Technology dimension of information systems | Computer hardware and software Data management technology Networking and telecommunications technology Networks, the Internet, intranets and extranets, World Wide Web IT infrastructure: provides platform that system is built on |
| Dimensions of UPS tracking system | Organizational: Procedures for tracking packages and managing inventory and provide information Management: Monitor service levels and costs Technology: Handheld computers, bar-code scanners, networks, desktop computers, etc. |
| Business perspective on information systems: | Information system is instrument for creating value Investments in information technology will result in superior returns: Productivity increases Revenue increases Superior long-term strategic positioning |
| Business information value chain | Raw data acquired and transformed through stages that add value to that information Value of information system determined in part by extent to which it leads to better decisions, greater efficiency, and higher profits |
| Complementary assets: | Assets required to derive value from a primary investment Firms supporting technology investments with investment in complementary assets receive superior returns E.g.: invest in technology and the people to make it work properly |
| Complementary assets include | Organizational assets, e.g. = business model and processes Managerial assets, e.g. = Teamwork and collaborative work environments Social assets, e.g. = The Internet and telecommunications infrastructure Technology standards |
| Technical approach | Emphasizes mathematically based models Computer science, management science, operations research |
| Behavioral approach | Behavioral issues (strategic business integration, implementation, etc.) Psychology, economics, sociology |
| Management Information Systems | Combines computer science, management science, operations research and practical orientation with behavioral issues |
| Four main actors | Suppliers of hardware and software Business firms Managers and employees Firm’s environment (legal, social, cultural context) |
| Sociotechnical view | Optimal organizational performance achieved by jointly optimizing both social and technical systems used in production both the technology and the organization mutually adjust to one another |
Created by:
dolabf8
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