ITM 102 Study Guide - Midterm Guide: Social Software, Enterprise Software, Social Business

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

Document Summary

Information technology the hardware and software that a firm needs to achieve business objectives. Hardware and software are technical foundation and tools to build information system. The role of information systems in business today. Used as a tool in achieving greater efficiency and productivity. Ex. walmart"s retail system links suppliers to stores directly for a superior stock system. Business model: describes how company produces, delivers, and sells product or service to create wealth. It is a major enabling tool for new products, services, business models. Ex. apple"s ipad, microsoft"s software delivery mechanism, amazon. Well served customers are more likely to return, raising revenues and profit. Intimacy with supplier allows for better quality supply with lower costs. Lack of accurate information leads to using best guesses and luck and leads to: Poor decision making raise costs and lose customers. Perspectives on information systems: four activities of information systems. Input: raw data or information from organization, external environment or other is.