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IS 301 Chapter 1 & 2 Complete Answer

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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...

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  • October 30, 2024
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  • IS 301 Chapter 1 & 2 Complete Answer
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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 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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