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COMM 226 Notes

89 Pages
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Department
Commerce
Course Code
COMM 226
Professor
All

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Description
COMM 226 MODULE 1 IT for business and business professionals Why IS mattersMoores lawis that computing power as measured by the maximum number of transistors in an integrated circuit roughly doubles every 18 months Information technology IT as a part of any IS is a key enabler to all organizations large or small private or public sector and impacts all business disciplines accounting marketing etcKnowledge workwhich involves the discovery analysis transformation synthesis and communication if data information and knowledge In todays environment it is impossible to do knowledge work without technology What is an information systemInformation system ISis an organized collection of people information business processes and information technology IT designed to transform inputs into outputs in order to achieve a goal Businesses design information systems to leverage the human ability to achieve goals through timely and appropriate application of technology and the timely delivery of appropriate and useful data information and knowledge Information systems enhance work decision making problem solving communication and coordinating Know page 10components of IS IS versus ITITis simply a collection of toolshardware software and connectivitythat enable individuals or businesses to achieve goals Without the context of a clear goal processes and people the information technology itself is irrelevant The productivity zone The productivity zone occurs at the intersection of people processes and technologyA successful IS system integrates all three of these components to create business valueThe internet The internet has become an integral part of personal and business lives for the following reasonsoCommunication Generates business value by making it possible for professionals to share information both between themselves and with business partners newsgroups chat rooms bulletin boards text messages email and IMoAnother key to generating business value for any organization and to increase personal productivity is the ability to both make information available and to find information in a timely matter This is done through the world wide web wwwSearch engines make it possible to locate information quickly Ease of creating and distributing information also has the potential for information overloadoCommerce The internet generates value by being an avenue for the buying and selling of goods known as commerceEcommerceis the use of information systems technology and computer networks by individuals and organizations to create business value Occurs especially in information economy such as travel insurance and banking where no physical product changes handsWhats in it for meIT for your personal productivity and entertainment how many times a day do you use technologyWhat technologies do you use and how does it facilitate your daily routinesIT is fundamental for your career Whats in it for an organization Organizations use IT to increase revenue per customer gaining new customersOrganizations also use IT to increase efficiency and reduce costs This helps lower their input costs which can then either be taken back in the form of higher margins on products and services sold or by enabling them to reduce their selling price to preserve competitive advantage and retain market share or open new markets Business organizations and the business environment When we refer to the word business we mean any organization with one or more people whooDecide on common goals to pursue oWork together to locate and organize resources oCreate processes to achieve the desired goals A businesss primary objective is to generate economic value make a profitOne of the most important factors influencing business is its environment
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