ITM 102 Midterm: Midterm notes

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 102
• Professor: Bharat Shah

Document Summary

Digital firm: when all the elements of an organization (customers, location, product numbers) are digitalized. It can be shared and used across multiple locations. Competitive advantage: a condition that gives a business an advantage over the other, you can have a competitive advantage by selling a cheaper product (same quality, special functions that others wont have, large social media platform that works. How information systems are transforming business: mobile digital platform, systems used to improve customer experience, respond to customer demand, reduce inventories, and more, growing online newspaper readership, expanding e-commerce and internet advertising, new federal security and accounting laws. What(cid:859)s ne(cid:449) i(cid:374) ma(cid:374)age(cid:373)e(cid:374)t i(cid:374)for(cid:373)atio(cid:374) (cid:455)ste(cid:373)s: technology, cloud computing, big data and the internet of things, mobile digital platform, management, online collaboration and social networking software, business intelligence, virtual meetings, organizations, social business, telework, co-creation of business value. Internet has drastically reduced costs of operating on global scales. Increases in foreign trade, outsourcing: presents both challenges and opportunities.