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Midterm Review - MIS.docx

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MidtermReviewManagementInformationSystemsChapter14Chapter1InformationSystemsandBusinessStrategyInformationSystemsBasicsInformation Systems IS computer based tools that people use to work with information and that support the information and informationprocessing needs of an organizationRepresents business success and innovationLeverage people need to be used properlyInformation technology IT Acquisition processing storage and dissemination of vocal pictorial textual and numerical information by a microelectronicsbased combination of computing and telecommunications Management Information Systems Function that plans for develops implements and maintains IT hardware software and applications that people use to support the goals of an organization Data information and knowledgeoData raw facts that describe the characteristics of an object or eventoInformation data converted into a meaningful and useful contextoKnowledge information can be acted uponIS ResourcesoPeople processes information systems informationInformation CultureoInformation Functional CultureoInformation Sharing CultureoInformation Inquiring CultureoInformation Discovery CultureRolesandResponsibilitiesinInformationSystemsCIO Chief information officer executivelevel position that involves highlevel strategic planning and management of information systems pertaining to the creation storage and use of information by a businessoManagerdelivery of all IS projects on time and budgetoLeaderstrategic vision of IS is in line with the strategic vision of the companyoCommunicatorcommunicate IS strategy by maintaining strong executive relationshipsCTO Chief technology officer responsible for ensuring the throughput speed accuracy availability and reliability of an organizations information technologyoDeals with the IT has to have a thorough knowledge of IToReports to CIOCSO Chief security officer responsible for ensuring the security of information systems and developing strategies and technical safeguards against attacks from hackers and virusesCPO Chief privacy officer responsible for ensuring the ethical and legal use of information within an organizationoNewest position usually lawyers by training CKO Chief knowledge officer Responsible for collecting maintaining and distributing an organizations knowledge Designs processes and IS to make it easy to use and reuse knowledge oEncourage employees to keep information up to dateoImprove bottom line by making it easier for new employees TheSkillsGapThe biggest problem nowadays is the lack of communication between the business personnel and the IT personnel The terms that the IT personnel use are unknown to business personnel We must improve these communications by increasing the average business persons knowledge of IS IdentifyingCompetitiveadvantagesCompetitive advantage product or service that an organizations customers place a greater value on than similar offerings from a competitorFirstmover advantage occurs when an organization can significantly impact its market share by being first to market with a competitive advantageEnvironmental scanning the acquisition and analysis of events and trends in the environment external to the organizationTo develop competitive advantages business use three tools 1 Five forces model 2 three generic strategies and 3 Value chain analysisFiveforcesmodelevaluatingbusinesssegmentsBuyer Power is high when buyers have many choices of whom to buy from and low when their choices are fewoIn the relationship with customers the organization is the supplier and prefer to loyalty programsreduce buyer power They can do this withreward customers based on the amount of business they do with a particular organizationoIn the relationship with suppliers organizations are the customers and prefer to increase their buyer powerSupplier Power is high with buyers have few choices to buy from and low when they have many choicesoRelationship with customers organization is the supplier and want supplier power to be high Relationship with supplers organization is the buyer and want supplier power to be low oBusiness to business marketplace Internet based service that brings together many buyers and sellersPrivate exchange is which a single buyer posts its needs and then opens bidding to any supplier who cares to bidReverse auction auction format in which increasingly lower bids are solicited from the organizations willing to supply the desired product at an
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