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Lecture 2

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Management Core
MGCR 331
Imad Mansour

Lecture 2 Course Objectives As a result of this course on business information technologies, you will be able to:  understand and talk about IT and how it relates to business;  Learn about and understand how IT tools improve collaboration and decision- making. Course Learning Outcomes To reach the course objectives, you will learn to:  Appreciate and explain the strategic role of IT in all types of organizations  Examine how an organization can create business value from IT  Understand the importance of managing data  Familiarize yourself with tools used to improve decision-making, access information and facilitate collaboration  Identify and explain current and future types of organizational uses of IT  Be aware of the privacy issues and security concerns in using IT. Clicker Q: 1. Facebook user base is not bigger than the population of:  China and India 2. The rise of Opensource has: - changed the revenue model of the software industry - Reduced the computing cost of start ups as well as blue chips companies 3. The following are reasons why Finance professionals have to understand technology: - have to be able to value tech companies - have to understand the role of IT in an investment portfolio Changing World - The World is Flat by Thomas Friedman (video) - Objective: o Appreciate the global business environment o Realize how IT affects business and shapes our world - There have been 3 years of globalization o 1 year (Globalization 1.0) – 1492 ~ early1800  Globalization through countries (ex. Size L  M)  Exploring other countries o 2 year (Globalization 2.0) – Early 1800 ~ 2000  Globalization through companies (ex. Size M  S)  Multinational, marketing o 3 year (Globalization 3.0) – Today  (ex. Size S  tiny; flattening the global economic field)  It’s not globalization through countries or companies, but it’s new and unique globalization that degree to which individuals and small groups globalizing themselves  Unlike globalization 1.0, 2.0, globalization 3.0 will not be built exclusively around the group of White Western individuals who dominated first two years of globalizations.  Individuals and small groups of every color of the rainbow will be able to plug and play - 10 days of flatten the world (10 flatteners; refer to the handout) Changing World - Globalization through countries, firms, and individuals - Era I (1492 to 1800) – Spearheaded by countries: power to deploy - Era II (1800 to 2000) – Spearheaded by companies: decreased cost of transportation and telecommunications - Era III (2000 - till date) – Spearheaded by groups andindividuals: the world is flat Today’s Economic Environment - Globalization: o Integration of regional economies, societies, and cultures through globe spanning networks of exchange  Now exchanges take place at a global level. People are no longer restricted to dealing with their local resources o Heightens competition, offers new opportunities  The expansion of the exchange networks, new opportunities emerge in relation to business processes, supply chains, consumer base etc o Enhances the value of information to the firm
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