ITM Final exam notes.docx

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Ryerson University
Information Technology Management
ITM 102
Vikraman Baskaran

Chapter 1 Information Systems in Global Business TodayVehicle order management system has helped reduce production time and the cost of maintaining materials and finished cars in inventorywhile increasing customer service and satisfactionHas created business processes and info systems that promote agility efficiency and quality Order management system increases customer satisfaction helps monitor trends and forecast demand and production requirements more accuratelyRole of Information Systems in Businesses Today Cell phones blackberrys Iphones email and online conferencing has become an essential tool for businessesSocial networking sites attract 70 and 30 million visitors a month businesses are starting to use this to connect to employees customers and managers worldwideEcommerce and internet are booming internet advertising grows 25 each yearMIS is a hot topic in business due to the continual change in technology management use of technology and technologys impact on business successIn technology area there are three interrelated changes the emerging mobile digital platformgrowth of online software as a service and growth in cloud computing Emerging mobile platform help improve management and achieve competitive advantage Globalization challenges and opportunities ChallengesDevelop highlevel skills through education and experienceAvoid markets for goods and services that can be produced offshore much less expensivelyOpportunitiesCan shop in worldwide marketplace obtaining price and quality info Info systems enable globalization Extraordinary cost reductionThe emerging digital firm Digital firm is one which nearly all of the orgs significant business relationships with customers suppliers and employees are digitally enabled and mediated Core business processes are accomplished through digital networks spanning the entire org or linking multiple orgRespond more rapidlyMore flexible global organization and mgmtStrategic business objectivesOperational excellenceNew products services and business modelsCustomer and supplier intimacy Improved decision making Competitive advantage SurvivalPerspectives on Information SystemsInformation Technology consists of all the hardware and software that a firm needs to use in order to achieve their business objectives Information System a set of interrelated components that collect process store and distribute info to support decision making and control in an org Informationdata that has been shaped into a form that is useful to humans Input captures or collects raw data from within the org or from its external envProcessing converts this raw input into a meaningful formOutputtransfers the processed info to the people who will use it or to the activities for which it will be usedInformation systems are an integral part of orgSenior mgmt long range decisions about products and services and ensures financial performance of firmMiddle mgmt carries out the programs and plans of senior mgmtOperational mgmt responsible for monitoring daily activitiesKnowledge workers design products or services and create new knowledge for the firm ex engineers Data workers assist with paperwork at all levels of firm ex secretaries Production or service workers produce the product and deliver the serviceMajor business functions sales and marketing manufacturing and production finance and accounting and human resources Each organization has a unique culture or fundamental set of assumptions valuesand ways of doing thingsManagementMakes sense out of situations faced by orgMakes decisionsformulates action plans to solve problemsCreate new products and recreate org from time to time Do creative work driven by knowledge and infoInformation Technology Computer hardware physical equipment used for inputprocessing and output activitiesComputer software consists of detailed preprogrammed instructions that control and coordinate the computer hardware componentData mgmt technology consists of the software governingthe org of data on physical storage mediaNetworking and telecommunications technology consists of both physical devices and softwarelinks various pieces of hardware and transfers data from on physical location to another Network links two or more computers to share data ex printerInternet global network of networks Internal corporate networks based on internet technology are called intranets Private intranets extended to authorized users outsidethe org are called extranetsWorld wide web a service provided by internet that uses universally accepted standards for storing retrieving formatting and displaying info Information Technology infrastructure provides foundation or platform on which the firm can build its specific info system Complementary Assets are those assets required to derive value from a primary investment Investments in org and mgmt are also known as organizational and mgmt capitalHow are information systems transforming business and what is their relationship to globalization Email online conferencing and cell phones have become essential tools for conducting business Information systems are the foundation of fastpaced supply chains The Internet allows many businesses to buy sell advertise and solicit customer feedback online Organizations are trying to become more competitive and efficient by digitally enabling their core business processes and evolving into digital firms The Internet has stimulated globalization by dramatically reducing the costs of producing buying and selling goods on a global scale New information system trends include the emerging mobile digital platform online software as a service and cloud computing Why are information systems so essential for running and managing a business today Information systems are a foundation for conducting business today In many industries survival and the ability to achieve strategic business goals are difficult without extensive use of information technology Businesses today use information systems to achieve six major objectives operational excellence new products services and business models customersupplier intimacy improved decision making competitive advantage and daytoday survival What exactly is an information system How does it work What are its management organization and technology components From a technical perspective an information system collects stores and disseminates information from an organizations environment and internal operations to support organizational functions and decision making communication coordination control analysis and visualization Information systems transform raw data into useful information through four basic activities input processing output and feedback From a business perspective an information system provides a solution to a problem or challenge facing a firm and represents a combination of management organization and technology elements The management dimension of information systems involves issues such as leadership strategy and management behaviour The technology dimension consists of computer hardware software data management technology and networkingtelecommunications technology including the Internet The organizational dimension of information systems involves issues such as the organizations hierarchy functional specialties business processes culture and political interest groups What are complementary assets Why are complementary assets essential for ensuring that information systems provide genuine value for an organization In order to obtain meaningful value from information systems organizations must support their technology investments with appropriate complementary investments in organizations and management These complementary assets include new business models and business processes supportive organizational culture and management behaviour appropriate technology standards regulations and laws New information technology investments are unlikely to produce high returns unless businesses make the appropriate managerial and organizational changes to support the technology
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