Final Exam Notes All Chapters

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Information Technology Management
ITM 102
Vikraman Baskaran

Chapter 1 Information System- a set of interrelated components that collect, process, store and dit. Information to support decision making and control in an organization Complementary Assets- assets required to gather value from a primary investment Information Systems and Transforming Business- increase use of web sites, sifts in media and ads, new laws Internet has drastically reduced costs of operating on global scale Strategic Business Objectives of IS- operational excellence, new products/services/business models, customer/supplier intimacy, improved decision making, competitive advantage and survival Information System: Input, Processing, Output and Feedback Chapter 2 IT enhances business processes- increases efficiency of existing processes and enables new processes that can transform the business Business Processes: Sales and Marketing systems/Manufacturing and Production systems/ Finance and Accounting systems/Human Resource systems Transactions Processing Systems- perform and record daily routine transactions Management Information Systems- provide reports on firms current performance Decision Support Systems- use external information from TPS(Transaction Processing System) and MIS(Management Information Systems) Executive Support Systems- address non routine decisions requiring judgement, evaluation and insight Enterprise Systems- Coordination of daily activities, efficient response to customer orders and provide valuable info for improving management decision making Supply Chain Management (SCM)- manage firms relationships with supplier, right amount of export with least amount of time and lowest cost. Customer Relationship Management- provide info with customers in sales, marketing, and service to optimize revenue, customer satisfaction, and customer retention Knowledge Management- processes for acquiring, creating, storing, distributing, applying, integrating knowledge Intranets- internal networks built with same tools and standards as internet, internal dist. of information to employees. Extranets- intranets extended to authorized users outside the company, can be used to allow diff. Firms to collaborate on a product Collaboration and Communication Systems- Email/Cell Phones/Social Networking/Wikis E-Business (Electronic Business)- Use of digital technology and internet to execute major business processes, e-commerce (buying and selling goods over the internet) E-Govt- internet and networking technologies to digitally enable govt and public sector organizations Chapter 3 Organization- formal social structure that takes resources to produce outputs Routines and Business Processes- standard operating procedures, collection of routines and collection of business processes Organizational politics- diff. Viewpoints lead to political struggle, competition and conflict, organizational change is greatly based on political resistance Organizational Environments- dependant on the social and physical environment, can influence environments First Movers- inventors of disruptive technologies Fast Followers- firms with the size and resources to capitalize on that technology IS: Economic Impact- IT changes cost of capital and the costs of information, IS technology is a factor of production like capital and labour, Transaction cost theory- economize on cost of participating in market, IT lowers cost therefore firms are better off transacting with other firms rather than grow company with number of employees Agency Theory- IT can reduce the cost of managing and supervising in a firm IT flattens organizations- IT enables faster decision making and increases span of control Internet and organizations- increases the accessibility, storage and distribution of info and knowledge for organizations/ lowers transaction and agency costs Competitive Forces Model- Traditional competitors/New Market Entrants/Substitute products and services/Customers/Suppliers Low Cost Leadership- low cost for producing products with better quality and level of service Product Differentiation- greatly change customers convenience and experience Focus on Market Niche- use IS to enable a focused strategy on a single market niche Strengthen customer and supplier intimacy- use IS to develop strong ties and loyalty with customers and suppliers Business value chain model- highlights activities where competitive strategies can be best applied, Is can improve operational efficiency and improve customer and supplier intimacy Synergies- output of some units used as inputs to other Core competencies- activity for which firm is world class leader, relies on knowledge, experience and sharing this across business units Virtual company strategy- use of network to ally with other companies to create and distribute products without limits Business Ecosystems- sets of firms providing related services and products Keystone firms- dominate ecosystem and create platform used by other firms Niche firms- Rely on the products by keystone firms Chapter 4 Ethics- Principles of right and wrong that individuals use to make choices to guide their behaviours Responsibility- accepting the potential costs, duties and obligations for decisions Accountability- Mechanisms for identifying responsible parties Liability- Permits individuals to recover damages done to them Due Process- Laws are well known and understood with an ability to appeal to higher authorities Ethical Principles: Golden Rule- Do unto other as you would have them do unto you Immanuel Kants Categorical Imperative- If an action is not right for everyone to take, then it is not right for anyone Descartes rules of change- IF an action cannot be taken repeatedly then it is not right to be taken at any time Utilitarian Principle- Take the action that achieves the greatest value for all concerned Risk Aversion Principle- Take the action that produces the least harm or incurs the least cost to all concernedEthical no free lunch rule- Assume that all tangible and intangible objects are owned by someone else Personal Information Protection and Electronic Documents Act (PIPEDA)- establishes principles for collection, use and disclosure of personal information Internet Challenges to Privacy- cookies are used to collect info from web site visits, web bugs and spy ware can be installed secretly Platform for Privacy Preferences (P3P)- Automatic communication of privacy policies between an e-commerce site and its visitors Trade Secret- intellectual work or product belonging to business Copyright- Statutory grant protecting intellectual property from being copied for at least 50 years Patent- granting the inventor an exclusive monopoly on idead behind an invention for between 17- 20 years Chapter 5 IT Infrastructure- Shared technology resources and specific information system applications Moores law and microprocessing power- the power of microprocessors and computing power doubles every 18 months, the price however falls by half every 18 months Law of Mass Digital Storage- the amount of digital information is roughly doubling every year, the cost of storing is exponentially falling Metcalfes Law and Network Economics- the value of networks exponentially grows as a function of the number of network members Computer Hardware Platforms- Client Machines, Server Machines, and mainframe systems Operating System Platforms- Unix
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