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Lecture

Module 1 Notes ADM1370

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Department
Administration
Course
ADM1370
Professor
Umar Ruhi
Semester
Winter

Description
Module 1 Lecture Notes Craig Kuziemsky Lecture 1 High Level Overview of Information Systems What is an Information System? Purpose: To provide accurate, timely and useful information Each element must be present and all of the elements must work together An Information System consists of FIVE PARTS, including:  People,  Procedures,  Software,  Hardware, and  Data Information system (IS) = IT plus procedures, and people that produce & utilize information.  IT = hardware + software + data o Products o Methods o Inventions o Standards Do not try to buy an IS; you cannot do it. That is because you cannot buy people or processes. Three core activities of information systems:  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 Digital firms use information systems to enable the seamless flow of information between different parts of the organization as well as between the organization and its suppliers and customers Conducting business electronically enables new levels of efficiency, competitiveness, and profitability (i.e. strategy) Module 1 Lecture Notes 1 Lecture 2 • Information and Communications Technology (ICT) is the largest single component of capital investment • The success of your business in the future may well depend on how you make ICT investment decisions Social Media: Social Media is a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of User Generated Content. Long Tail and Social Media  distribution and inventory costs of businesses successfully applying this strategy allow them to realize significant profit out of selling small volumes of hard-to-find items to many customers instead of only selling large volumes of a reduced number of popular items. The total sales of this large number of "non-hit items" is called "the long tail". Business Process • Manner in which work is organized, coordinated, and focused to produce a valuable product or service • Concrete work flows of material, information, and knowledge – sets of activities • Unique ways to coordinate work, information, and knowledge • Ways in which management coordinates work Manufacturing and production: • Assembling product, checking quality, producing bills of materials Sales and marketing: • Identifying customers, creating customer awareness, selling Cross-Functional Business Processes: Transcend boundary between sales, marketing, manufacturing, and research and development • Group employees from different functional specialties to a complete piece of work • Example: Order Fulfillment Process 2 Module 1 Lecture Notes Lecture 3 Competitive advantage – a product or service that an organization’s customers place a greater value on than similar offerings from a competitor First-mover advantage – occurs when an organization can significantly impact its market share by being first to market with a competitive advantage Buyer power - high when buyers have many choices of whom to buy from and low when their choices are few Use IT to reduce buyer power (thus creating a competitive advantage) through loyalty programs Five factors to consider when assessing impact of IT on Business: 1. Internet growth and technology convergence 2. Transformation of the business enterprise 3. Growth of a globally connected economy 4. Growth of knowledge and information-based economies 5. Emergence of the digital firm Economics of Digital Goods  Cost of producing first unit is almost the entire cost of the product: marginal cost of producing 2 unit is almost zero  Costs of delivery over the Internet are very low  Marketing costs remain the same  Consumer costs are also reduced Other Revenue Generation Strategies in Social Networks  Offer premium service for monthly or per service fee  Organizations partner with the social networks, paying them a monthly service fee  Some social networks have a network of thousands of local physical venues where members can meet; these venues may pay a fee to be associated with the network Module 1 Lecture Notes 3 Lecture 4 Wikis  A wiki is a website or similar online resource which allows users to add and edit content collectively  Wikis are collaboration tools o Blogs and chats are more turned towards conversation  Wikis are intended to maintain a series of unique documents as their content evolves  Wikis have built-in version control o No changes can be made without creating a record of who made those changes o Reversion to an earlier version is always possible “The world is flat”  The global economic playing field has been leveled  Competition is worldwide  Few jobs or markets are constrained by geographic boundaries  Successful managers must be able to leverage technology to be successful in this world  Flattening organizations, more virtual firms, increasing flexibility Globalization 3.0 created a new world that is characterized by:  Worldwide communication  Worldwide collaboration without barriers In Globalization 3.0, individuals and small groups play important roles: individuals who:  command more information,  have more options,  exchange information more conveniently,  coordinate actions,  influence (peers, companies, governments) Ten flatteners 1. Fall of the Berlin Wall 5. Outsourcing 2. Netscape goes public 6. Offshoring 3. Development of 7. Supply Chaining workflow software 8. In-sourcing 4. Uploading/open 9. In-forming sourcing 10.The Steroids Flattener #4: Uploading / Open-Sourcing:  Self-Organizing Collaborative Communities.  Individuals as consumers and producers of content.  Fast dissemination of information, news and events.  Collaboration on open-source & free software. Collective Intelligence: 4 Module 1 Lecture Notes  people and computers who are connected and act collectively more intelligently than individuals, groups, or computers have ever done before Ideation Communities:  platforms where customers can post news, stories, ideas, case studies etc and other people can rate, vote for the best ideas, comment and share ideas etc Flattener #9: Informing  In-forming is the ability to build and deploy your own supply chain of information, knowledge and entertainment  It is the antithesis of being told or taught. It is about self-empowering; empowering individuals to do what they think best with the information they want.  The opportunity for people to have private, semiprivate, or public gatherings on the Internet regardless of geography and time Flattener #10: Steroids The new technologies that are amplifying and turbo-charging all other flatteners.  Computing speed and capacity  Instant messaging  Videoconferencing  Computer graphics  Wireless technologies and devices o virtual - these processes can be done at high speed with total ease; o mobile - can be done anywhere, anytime by anyone; o personal - can be done by you. o digital – all content and process are being digitized What were the three specific examples of Digital Steroids cited by Friedman? 1: Computing Speed / Storage / Portability ; 2: Peer-to-Peer Features (IM, File Sharing); 3: Voice over IP (e.g. Skype) Impact of Flattening on Business  Opportunities to alter how business processes are conducted (e.g. efficiency)  New opportunities for building brands and developing customer relationships (e.g. CRM)  Companies that are better at using IS in general and the Internet in particular do a better job of dealing with Porter’s 5 threats  Substitute products or services o New substitutes emerge (e.g., online music lowers the value of record stores)  Customers’ bargaining power o Customers have access to info on products & pricing, thus can bargain  Suppliers’ bargaining power o Suppliers have more options to sell their products Module 1 Lecture Notes 5  Threat of new entrants o The Internet reduces barriers to entry, such as physical location and changes the business environment (e.g. Blockbuster & www.netflix.ca )  Rivalry among existing competitors o The Internet widens geographic market, increasing the number of competitors, pressure to lower prices Globalization has created a set of unprecedented challenges: • Governmental challenges • Geoeconomical challenges • Demographic challenges • Cultural challenges Flattening and Business Strategies Multidomestic Business Strategy • Lower degree of global integration • Higher degree of local responsiveness Global Business Strategy • Higher degree of global integration • Lower degree of local responsiveness Transnational Business Strategy • Some operations centralized • while others decentralized 6 Module 1 Lecture Notes Lecture 5 Social Media Crisis:  a crises issue that arises in or is amplified by social media, and results in negative mainstream media coverage, a change in business process, or financial loss. Characteristics:  technology helps create a negative buzz around a brand, product, or service.  ground-up phenomenon that is largely out of the control of the business being affected. groundswell, “…spontaneous movement of people using online tools
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