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COMMERCE 2KA3 Complete In Class Notes
- Course
- COMMERCE 2KA3 (COMMERCE2KA3)
- Institution
- McMaster University (mcmasteru)
In class slide notes from the whole year including all case studies
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Information Systems in Management -2KA3
Midterm Content →
Lecture Material:
Chapter 1 - Info in Global Business Today
How info systems are transforming business
- More business related to ecommerce
- Data more valuable
- Supply chain optimization
- Media has large effects
- Advertising expanding
MIS - Managing Information Systems
What's new in MIS?
1. Technology
a. Big data
b. Cloud computing
c. Mobile devices
2. Management
a. Online collaboration
b. Business intelligence applications
c. Virtual meetings
3. Organizations
a. Social Business
b. Tele-work
c. Co-creation of business value
Digital Firms are emerging
, - Nearly all organization and relationships with suppliers, customers & employees are
digital and mediated
- Core business processes run through digital networks
- Enables longer business hours
Businesses rely on software (an information system) for things like hardware, data management,
telecommunications, ect.
Why so essential?
1. Operational Excellence
a. Improved efficiency leads to higher profitability
2. Customer & Supplier Intimacy
a. Serving customers/suppliers well leads to returning customers & raises revenue
3. Competitive Advantage
a. Delivering better performance
b. Charging less for superior products
c. Responding to customers & suppliers in real time
4. New Business Models
a. New products & services can lead to new ways to make money
b. Eg. subscription services
5. Improved Decision Making
a. With more info decisions can be more calculated
b. Without accurate info may lead to decisions that may:
i. Over/underproduce goods
ii. Misallocate resources
iii. Response times are poorer
iv. Poor outcomes raise costs & lose customers
6. Survival
a. Industries change and tech is required to keep up & innovate
b. Legal regulations may rapidly change the environment and tech can help better
adapt
What's the difference between info technology and info systems?
Info Technology
- Technical components of info systems
- All the hardware & software used to achieve business objectives
Info Systems
- Interrelated components that collect, process, store & distribute info
- Translated data to info
,Essentially technology is the more physical & individual stuff that feeds info systems so they can
translate the data to something meaningful. Think of a laptop (technology) using excel (system).
4 Activities Produce Info that Business Need
1. Input
a. Captures raw data from organizations or the environment
2. Processing
a. Converts raw data into meaningful form
3. Output
a. Transfers info to people or things that can use it
4. Feedback
a. Output allows evaluation & correction
Major Business Functions
1. Sales & Marketing
a. Selling products/services
2. Manufacturing & Production
a. Producing & delivering products/services
3. Finance & Accounting
a. Managing financial assets & maintaining financial records
4. Human Resources
a. Attracting, developing & maintaining the labor force
Info Technologies
1. Computer Hardware
a. Physical equipment for inputting, processing & output
2. Computer Software
a. Detailed, pre-programmed instructions that control & coordinate the computer
hardware
3. Data Management Technology
a. Software governing the organization of data
4. Networking & Telecommunication Technology
a. Links all the hardware and transfers data from place to place
5. IT Infrastructure
a. Provides platform on which the system is built
, Chapter 2 - Global E-Business & Collaboration
Business Process & Information Systems
Manufacturing & Production
- Assembling product, checking quality, producing bills of material
Sales & Marketing
- Identifying customers, making customers aware of the product, selling product
Finance Accounting
- Paying creditors, creating financial statements & managing cash accounts
Human Resources
- Hiring, evaluating, benefits
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