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[COMMERCE 2KA3] - Midterm Exam Guide - Everything you need to know! (32 pages long)


Department
Commerce
Course Code
COMMERCE 2KA3
Professor
A L I R M O N T A Z E M I
Study Guide
Midterm

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McMaster
COMMERCE 2KA3
MIDTERM EXAM
STUDY GUIDE

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Commerce 2KA3
Chapter 1: Information Systems in Business Today
There are 3 interrelated changes in the technology area: 1) the emerging mobile digital
platform, 2) the growing business use of big data, and 3) the growth in cloud computing,
where more and more business software runs over the internet
Digital Firm: can be defined along several dimensions; it is one in which nearly all of the
organization’s significant business relationships with customers, suppliers, and employees
are digitally enabled and mediated. Core business process are accomplished through digital
networks spanning the entire organization or linking multiple organizations
Business Processes: refer to the set of logically related tasks and behaviours that
organizations develop over time to produce specific business results and the unique
manner in which theses activities are organized and coordinated
Key Corporate Assets: intellectual property, core competencies, and finical and human
assets- are managed through digital means.
Time shifting: refers to business being done continuously 24/7 rather than in a workday
Operational excellence: businesses continually seek to improve the efficiency of their
operations in order to achiever higher profitability
Business Model: describes how a company produces, delivers, and sells a product or
service to create wealth
Competitive Advantage: when firms achieve one or more of these business objectives:
operational excellence, new products, services, and business models; customer/supplier
intimacy, and improved decision making- chances are they have achieved a competitive
advantage
Information Technology (IT): consist of all the hardware and software that a firm needs
to use in order to achieve its business objectives
Information System: is a set of interrelated components that collect or retrieve, process,
store, and distribute information to support decision making and control in an organization
Information: data that have been shaped into a firm that is meaningful and useful to
human beings
Data: are streams of raw facts representing events occurring in organizations or the
physical environment before they have been organized and arranged into a form that
people can understand and use
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Input: captures or collects raw data from within the organization or from its external
environment
Processing: converts this raw input into a meaningful form
Output: transfers the process information to the people who will use it or to the activities
for which it will be used
Feedback: is output that is returned to appropriate members of the organization to help
them evaluate or correct the input or processing stage
Information system literacy: the broad understanding of information systems, which
encompasses an understanding of the management and organizational dimensions of
systems as well as the technical dimensions of the system
Computer Literacy: focuses primarily on knowledge of information technology
Management Information Systems (MIS): tries to achieve this broader information
system literacy. Deals with behavioural issues as well as technical issues surrounding the
development, use, and impact of information systems used by managers and employees in
the firm
Senior Management: makes long-range strategic decisions about products and services
and ensures the finical performance of the firm
Middle Management: carries out the programs and plans of senior management, and
operational management
Operational management: is responsible for monitoring the daily activities of the
business
Knowledge workers: such as engineers, scientists, or architects, design products or
services and create new knowledge for the firm
Data workers: secretaries or clerks assist with the scheduling and communications at all
levels of the firm
Production or service workers: actually produce the product and deliver the service
Business functions: specialized tasks performed by business organizations, consist of
sales and marketing, manufacturing, and production, finance and accounting, and HR
Culture: each organization has its own unique culture or fundamental set of assumptions,
values, and ways of doing things, that has been accepted most of its members
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