[ITM 102] - Midterm Exam Guide - Everything you need to know! (19 pages long)

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 102
• Professor: Franklyn Prescod

Document Summary

The role of information systems in business today o o. Information systems/technology an important tool in achieving greater efficiency and productivity: walmart"s retail system links suppliers to stores for a superior replenishment system. New products, services, and business models: business model: describes how company produces, delivers, and sells product or service o to create wealth. Information systems and technology a major enabling tool for new products, services, business models. Examples: apple"s ipad, microsoft"s software delivery mechanism, amazon o. Serving customers well leads to customers returning, which raises revenues and profits. Example: high-end hotels that use computers to track customer preferences. Intimacy with suppliers allows them to provide vital inputs, which lowers costs. Example: nygard"s information system which links sales records to contract manufacturer. Managers must use best guesses, luck: results in: Poor response times: poor outcomes raise costs, lose customers.