ADM 2372 Study Guide - Internet Service Provider, Hypertext Transfer Protocol, Business Process Modeling
22 Apr 2013
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Improve customer satisfaction: reduce costs, competitive advantages, generate growth, streamline supply chain, global expansion. Metrics: things that measure levels of satisfaction, inputs: customer frequency, customer comments, retention rates, response rates, only collect metrics that will help you, don"t waste time and money. Porters 5 forces***: rivalries, threats, substitute goods, buyer power: build loyalty programs (shoppers drug mart, supplier power. Managers do not make bad decisions, they make good decisions based on bad information : have been around formally only for about 40 years. Management information systems: the function that plans for, develops, implements, and maintains is hardware, software and applications that people use to support the goals of an organization. Is a business function similar to accounting, finance, operations, and hr. Data: raw facts that describe the characteristic of an event. Information: data converted into a meaningful and useful context. Knowledge: information that can be enacted upon (actionable information)
