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COMM 226 – Final Exam Notes 100% EXPECTED SOLUTIONS Concordia University.
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- COMM 226
- Institution
- Concordia University ( )
COMM 226 – Final Exam Notes 100% EXPECTED SOLUTIONS Concordia University.
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COMM 226 – Final Exam Notes 100%EXPECTED SOLUTIONS Concordia
University
Module 1 Chapter 1: The Importance of MIS (use glearning)
• What can intro to MIS help you Learn?
o Non-Routine Skills
▪ Abstract reasoning – deals with the use of models and being able to
manipulate models
in ways that provide insight into scenarios
▪ Systems Thinking – The ability to model components of the system and
connect the
inputs and outputs that help define the systems as a whole
▪ Collaboration – involves giving a receiving critical feedback in an effective
manner
▪ Ability to experiment – having the capability to use careful reasoned analysis
of ideas
and developing them into something with promise and value
• What is Management Information Systems (MIS)?
o Using technology to achieve strategic business goals and objectives
o A group of components that interact to achieve some purpose
▪ An Information systems (IS) is a group of components that interact to
produce
information
o Created to solve a business problem or optimize the business in some way
o Think of Information Systems as a tool used to accomplish organizational goals.
▪ Example: developing a website for the sake of having one doesn’t solve
anything –
always ask, what is the company’s need the system should address it. The
newest/biggest/shiniest system will not always solve the issue
o In order to understand MIS, we must understand processes, information systems,
and
information
▪ Processes is a way of doing something
▪ Information systems involves a collection of components producing
information from
, data
▪ Information is using data in a way that provides knowledge and empowers
employees to
do their jobs
o Management of Information Systems - refers to the
▪ 1)creation,
▪ 2)monitoring, and
▪ 3) adapting... of processes, information systems, and information
o There are tasks and responsibilities associated with with the management of IS
▪ Security of the information and systems
▪ Having a back-up and recovery plans for system downtimes
o Customer Relationship Management (CRM): systems that use algorithms and
databases to predict customer behaviours
,• Moore’s Law
o Prediction that has become a reality. Made by Gordon Moore – Founder of Intel in
1965
o “The number of transistors per square inch on an integrated chip doubles every 18
months”
leads to:
▪ 1) computer speed is increasing exponentially (not at a stable rate every 18
months, but
is continuously increasing)
▪ 2) the cost for a given computing speed decreases exponentially
▪ 3) data storage and data communication costs are virtually $0
▪ 4) Routine tasks can be outsourced cheaply – If your job can be automated,
your job is
not secure.
• How does MIS relate to Organizational Strategy?
o Porter’s Five Forces that determine industry structure
▪ Consists of 3 Competitive Forces and 2 Bargaining Power Forces
▪ Competitive Forces:
• Competition from substitutes: Introduction of products or services
which can
substitute for an organization’s products/services while retaining the
same perceived value from customers
• Competition from new entrants: Depends on the barriers of entry into
the
industry (capital, regulations…). If these barriers are low, there will be
increased competition
• Competition from existing rivals: price, quality, innovation all
determine degree
of rivalry
▪ Bargaining Power Forces:
• Bargaining power of suppliers: if supply is low and demand is high,
suppliers have
greater bargaining power and can demand higher prices
• Bargaining power of customers: If customers have more choices, they’ll
have
more bargaining power (high supply relative to demand)
o Ex:
• W
, h
a
t
is Competitive Strategy?
o Porter’s 4 factors of competitive strategy
▪ Cost leader
▪ Differentiation
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