MGS 351 Study Guide - Midterm Guide: Barcode Reader, Antivirus Software, Cable Modem
19 Dec 2016
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Document Summary
Helping people perform all tasks related to information processing and management: people: the most important resource in any organization. Data that have a particular meaning within a specific context. Business intelligence collective information that supports important strategic decision making. Input device: mouse, bar code scanner: technology. Cpu & ram: the brains of your computer. Fixed costs costs you incur even if you don"t sell anything. Variable cost costs you incur when you sell something (cogs) Revenue how much you sell one unit for (reduce fixed/variable costs; increase revenue: recommendation engines, long- tail eco ) Helps business people understand the relative attractiveness of an industry and the industry"s competitive pressures. Buyer power high when buyers have many choices and low when their choices are few. Supplier power high when buyers have few choices and low when choices are many. Threat of substitute products and services high when there are many alternatives for buyers.
