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ADM2372 Midterm Review.docx

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University of Ottawa
James Bowen

ADM2372 Chapter 1: Information Systems and Business Strategy Information systems (IS): computer-based tools that people use to work with information and that support the information and information-processing needs of an organization Information technology (IT): the acquisition, processing, storage, and dissemination of vocal, pictorial, textual, and numerical information by a microelectronics-based combination of computing and telecommunications Management information systems (MIS): the function that plans for, develops, implements, and maintains IT hardware, software, and applications that people use to support the goals of an organization Data: raw facts that describe the characteristics of an object or event Information: data converted into a meaningful and useful context Knowledge: when information can be acted upon Information cultures: Information-Functional Culture: employees use information as a means of exercising influence or power over others Information-Sharing Culture: employees across departments trust each other to use information to improve performance Information-Inquiring Culture: employees across departments search for information to better understand the future and align themselves with current trends and new directions Information-Discovery Culture: employees across departments are open to new insights about crisis and radical changes and seek ways to create competitive advantages Chief information officer (CIO): an executive-level position that involves high level strategic planning and management of IS pertaining to the creation, storage, and use of information by a business; managers, leaders, and communicators Chief technology officer (CTO): responsible for ensuring the throughput, speed, accuracy, availability, and reliability of an organization’s information technology Chief security officer (CSO): responsible for ensuring the security of IS, and developing strategies and technical safeguards against attacks from hackers and viruses Chief privacy officer (CPO): responsible for ensuring the ethical and legal use of information within an organization Chief knowledge officer (CKO): responsible for collecting, maintaining, and distributing an organization’s knowledge Skills required by IT Executives: • Communications • Business knowledge • Innovation and creativity • Leadership • Domain knowledge Competitive advantage: a product or service that an organization’s customers place a greater value on than similar offerings from a competitor First-mover advantage: when an organization can significantly impact its market share by being first to market with a competitive advantage Environmental scanning: the acquisition and analysis of events and trends in the environment external to an organization Five Forces Model: helps determine the relative competitive attractiveness of an industry Buyer power: high when buyers have many choices of whom to buy from and low when their choices are few Loyalty programs: reward customers based on the amount of business they do with an organization Supplier power: high when buyers have few choices to buy from and low when they have many choices Threat of substitute products or services: high when there are many alternatives to a product and low when there are few alternatives Switching costs: costs that make a customer reluctant to switch to another product Threat of new entrants: high when it is easy for new competitors to enter a market and low when there are significant barriers to entry Rivalry amongst existing competitors: high when competition is fierce in a market and low when competition is complacent Business process: a standardized set of activities that accomplish a specific task, such as processing a customer’s order Value chain: views an organization as a series of processes, each of which adds value to the product or service for each customer Business-driven information systems: systems that are implemented to support a company’s competitive business strategy Chapter 2: Decision Making and Business Processes Primary reasons for growth of decision-making information systems: • People need to analyze large amounts of information • People must make decisions quickly • People must apply sophisticated analysis techniques to make good decisions • People must protect the corporate asset of organization information Structured decisions: operational decisions which arise in situations where established processes offer potential solutions Semi-structured decisions: managerial decisions which occur in situations in which a few established processes help evaluate potential solutions, but not enough to lead to a definite recommended decision Unstructured decisions: strategic decisions which occur in situations in which no procedures or rules exist to guide decision makers towards the correct choice Transactional data: encompasses all of the information contained within a single business process or unit of work and its primary purpose is to support the performing of daily operational tasks Analytical information: encompasses all summarized or aggregated transactional data and its primary purpose is to support the performing of higher-level analysis tasks Online transaction processing (OLTP): the capturing of transaction and event data using information systems to process the data according to business rules, store the data, and update existing data to reflect the new information Online analytical processing (OLAP): the analysis of summarize or aggregated information sourced from transaction processing systems data (and sometimes external sources) to create business intelligence in support of strategic decision making Consolidation: involves the aggregation of information and features simple roll-ups to complex groupings of interrelated information Drill-down: enables users to view details, and details of details, of information Slice-and-dice: the ability to look at information from different perspectives Business intelligence: applications and technologies that are used to gather, provide access to, and analyze information to support people’s decision making efforts Key performance indicators (KPIs): the measures that are tied to business drivers Metrics: the detailed measures that feed KPIs Efficiency IS metrics: measure the performance of the information system itself such as throughput, speed, and availability; throughput, transaction speed, system availability, web traffic, response time Effectiveness IS metrics: measure the impact IS has on business processes and activities including customer satisfaction, conversion rates, and sell-through increases; usability, customer satisfaction, conversion rates, financial Benchmarks: baseline values a system seeks to attain Benchmarking: a process of continuously measuring system results, comparing those results to optimal system performance, and identifying steps and procedures to improve system performance Transaction processing system (TPS): the basic business system that serves the operational level in an organization Decision support system (DSS): models data and information to support managers, analysts, and other business professionals during the decision making process for more analytical purposes Sensitivity analysis: the study of the impact that in one (or more) parts of a model have on other parts of a model What-if analysis: checking the impact of a change in an assumption on the proposed solution Goal-seeking analysis: finding the outputs necessary to achieve a goal such as a desired level of output Executive information system (EIS): a specialized DSS that supports senior-level executives within the organization Digital dashboards: integrate information from multiple components and tailor the information to individual preferences Intelligence systems: various commercial applications of artificial intelligence Artificial intelligence: technology that simulates human intelligence, such as the ability to reason and learn Expert systems: computerized AI advisory programs that imitate the reasoning processes of experts in solving difficult problems Neural network: AI that attempts to emulate the way the brain works; learning and adjusting, massive parallel processing, functioning without complete information, coping with huge volumes of information with many dependent variables Genetic algorithms: AI systems that mimic the evolutionary survival-of-the-fittest process to generate increasingly better solutions to a problem Intelligent agent: a special-purpose knowledge-based IS that accomplishes specific tasks on behalf of its users Virtual reality: a computer-generated environment that can be a simulated world of an imaginary world Business process: a standardized set of activities that accomplish a specific task, such as processing a customer’s order Customer-facing processes: result in a product or service that is received by an organization’s external customer Business-facing processes: invisible to the external customer but essential to the effective management of the business and include goal-setting, day-to-day planning, performance feedback, rewards, and resource allocation Business process improvement: attempts to understand and measure a business process and make performance improvements on that process accordingly Business process re-engineering (BPR): the analysis and redesign of workflow within and between enterprises Business process modelling: the activity of creating a detailed flow-chart, work flow diagram, use case diagram, or process map showing process inputs, tasks, and activities in a structured sequence Business process model: a graphic description of a process, showing the sequence of tasks that complete the process from a selected viewpoint As-Is process models: represent the current state of the operation that has been mapped, without any specific changes or improvements to existing processes To-Be process models: show the results of applying change improvement opportunities to the current process model Business process management (BPM): integrates all of an organization’s business processes to make individual processes more efficient Risks of BPM usually revolve around resistance to change from employees. BPM enables proactive, continuous improvement to the business process. Key reasons for BPM: • Brings processes, people, and information together • Breaking down the barriers between business areas and finding owners for the processes • Managing business processes within the enterprise and outside the enterprise with suppliers, business partners, and customers • Looking at systems horizontally instead of vertically Chapter 3: The Internet and E-Business E-business: the conducting of business on the Internet Digital Darwinism: implies that organizations that cannot adapt to the new demands placed on them for surviving in the information age are doomed to extinction Disruptive technology: a new way of doing things that initially does not meet the needs of existing customers Sustaining technology: produces an improved product that customers are eager to buy Internet: a global public network of computer networks that pass information from one to another using common computer protocols Protocols: standards that specify the format of data as well as the rules to be followed during transmission World Wide Web: a global hypertext system that uses the Internet as its transport mechanism Hypertext transport protocol: the Internet standard that supports the exchange of information on the WWW Digital divide: those with access to technology have great advantages over those without technology Internet’s impact on information: • Easier to compile • Increased richness • Increased reach • Improved content Web 2.0: a set of economic, social, and technology trends that collectively form the basis for the next generation of Internet, a more mature, distinctive medium characterized by user participation, openness, and network effects Web mashup: a web site or web application that uses content from more than one source to create a completely new service Application programming interface (API): a set of routines, protocols, and tools for building software applications Mashup editors: software editing tools for mashups Intranet: an internalized portion of the Internet, protected from outside access that allows an organization to provide access to information and application software only to its employees Extranet: an intranet that is available to strategic allies Portal: a web site that offers a broad array of resources and services Kiosk: a publicly accessible computer system that has been set up to allow interactive information browsing Internet service provider (ISP): a company that provides individuals and other companies access to the internet; web hosting, hard-disk storage space, availability, support Wireless Internet service provider (WISP): an ISP that allows subscribers to connect to a server at designated hotspots or access points using a wireless connection Online service provider (OSP): offers an extensive array of unique services such as its own version of a web browser Application service provider (ASP): a company that offers an organization access over the Internet to systems and related services that would otherwise have to be located in personal or organizational computers Service level agreements (SLAs): define the specific responsibilities of the service provider and set the customer expectations E-commerce: the buying and selling of goods and services over the I
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