[ITM 102] - Midterm Exam Guide - Everything you need to know! (14 pages long)

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 102
• Professor: Shikui Wu

Document Summary

Operational excellence: improve ef ciency to get higher pro ts, information systems and technology is important to achieve better ef ciency and productivity. Customer and supplier intimacy: serving customers well leads to customers returning, which increases revenue, intimacy with suppliers allows them to provide vital inputs which lowers costs. Improved decision making: inaccurate information results in overproduction or under, misallocation of resources and poor response times which raises costs and the loss of customers. Competitive advantage: deliver better performance, charge less for superior products, respond to customers and suppliers in real time. Survival: businesses need information systems because governmental regulations require record keeping, industrial level changes require business to change with them. Behavioural approach: emphasize mathematically based, behavioural issues (strategic business models, computer science, management science, operations research integration, implementation, psychology, economics, sociology. How information technology improves business processes increases ef ciency of existing processes by automating steps that were manual.