Information Systems Investments and Strategic Advantage
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| 3 Types of Information Systems | • Automating
• Organisational Learning(Informating)
• Achieving Strategy
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| Automation | Process of using an information system to compete a task within an organisation in a faster and efficient way with greater accuracy and consistency. There is a reduced chance of human error within this process.
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| Informating | Process where technology provides information about its operation and the work processes underlying its operation. It allows the business to learn where it can improve in the day-to-day activities within that process.
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| Learning Organisation | An organization that is highly skilled in creating, acquiring and transferring knowledge and by changing its behavior and attitudes to reflect new knowledge and insights for further use. The process is reviewed constantly in order to be more efficient
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| Organisation Strategy | Organization’s plan to achieve its goals and to gain advantages over rivals.
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| 5 Types of Organisational Strategy (Use a diagram) | •Overall Low-Cost Leadership Strategy
•Focused Low-Cost Leadership Strategy
•Broad Differentiation Strategy
•Focused Differentiation Strategy
•Best-Cost Provider Strategy
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| 7 Sources of Competitive Advantage | •Having the best product available
•Delivery of high level customer service
•Achieving lower production costs than rivals
•Having strong technology in manufacturing
•Shorter testing + developing stages
•Well known brand
•Giving customers best valu
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| Value-Chain Analysis (Diagram) | The process of analyzing a business’s activities and determining where value can be added to products and services and the costs involved in doing so
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| Productivity Paradox | The observation when business productivity increases but at a lower rate than initially thought due to introduction of new technologies.
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| 4 Reasons for Productivity Paradox | •Measurement Problems
•Time Lags
•Redistribution
•Mismanagement
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| Business Cases Based on 3 Types | •Faith
•Fear
•Fact
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| Porter's 5 Forces of Level of Industry Competitiveness | •Existing rivals in the industry
•New rivals
•Customer bargaining power
•Suppliers bargaining power
•Substitute products from other industries
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| Business case based on fact | •Identifying costs (Total cost of ownership)
•Identifying benefits
•Performing a Cost-benefit analysis
•Comparing competing investments (listed criteria, then process of elimination)
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| 4 factors for Business Cases | •Know your audience
•Convert benefits into quantitative figures
•Proxy variables
•Measure important factors involved to management
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| 4 Categories of Assessing IS Infrastructure | •Economic
•Architectural
•Operational
•Regulatory and Compliance
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| 5 Obstacles for Innovation | •Advantages gained have limited lifespan
•Always involve a risk
•Making the choice
•Difficulties with forecasting its impact
•Competitors can copy your innovation
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| 3 Organisational Requirements for Innovation | •Process Requirements
•Resource Requirements
•Risk Tolerance Requirements
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| 4 Good Steps for Innovation | •Start Early
•Executive Leadership
•Build a team of expert innovators
•Educate the organisation to explore possible disruptive innovations
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| Disruptive innovations | New technologies, products or services that eventually overtake existing technology, products or services that has been dominating the market for quite some time
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| 4 Parts to the E-Business Cycle (Figure 4.23) | •Choosing
•Matching
•Executing
•Assessing
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| 3 Possible Ways to Disruptive Innovation | •Putting technology ahead of business strategy
•Putting technology ahead of marketing strategy
•Continuous Innovation
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| Freeconomics (Give an example) | Based on the principles that a product/service costs very little to produce and maintain and is offered free to the customer with the main aim of gaining a competitive advantage
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| 6 Approaches to Freeconomics (Give example of each) | •Advertising
•Freemium
•Cross-subsidies
•Zero Marginal Cost
•Labor Exchange
•Gift Economy
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