IS 301 Chapter 1 & 2 Complete Answers
The core drivers of the information age ️️Data • Information
• Business • Intelligence • Knowledge
Information collected from multiple sources: ️️Customers • Suppliers • Competitors • Partners •
Industries
Management Informatio...
The core drivers of the information age ✔️✔️Data • Information
• Business • Intelligence • Knowledge
Information collected from multiple sources: ✔️✔️Customers • Suppliers • Competitors • Partners •
Industries
Management Information Systems (MIS) ✔️✔️A business function, just like accounting and human
resources, which moves information about people, products, and processes across the company to
facilitate decision-making and problem-solving
3 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
Feedback ✔️✔️- Output is returned to appropriate members of organization to help evaluate or
correct input stage
Digital firms offer greater flexibility in organization and management. ✔️✔️Time shifting, space
shifting
Operational Excellence ✔️✔️Improvement of efficiency to attain higher profitability
, In the emerging, fully digital firm: ✔️✔️- Significant business relationships are digitally enabled and
mediated.
- Core business processes are accomplished through digital networks.
- Key corporate assets are managed digitally.
Business model ✔️✔️describes how company produces, delivers, and sells product or service to
create wealth
Customer and supplier intimacy ✔️✔️Example: High-end hotels that use computers to track customer
preferences and used to monitor and customize environment
Competive advantage ✔️✔️A product or service that an organization's
customers place a greater value on than similar offerings from a competitor
Complementary assets include ✔️✔️Organizational assets, for example: - Appropriate business model
- Efficient business processes
Managerial assets - Incentives for management innovation - Teamwork and collaborative work
environments
Social assets, for example:
- The Internet and telecommunications infrastructure - Technology standards
Transaction Processing Systems (TPS) ✔️✔️- Serve operational managers and staff
- Perform and record daily routine transactions necessary to conduct business
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