MIS 302F Study Guide - Spring 2019, Comprehensive Midterm Notes - Types Of Tennis Match, Zadar, Viral Marketing

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Published on 13 Feb 2019
School
UT-Austin
Department
Management Information Systems
Course
MIS 302F
Professor
MIS 302F
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Notes 01.28.19
Technology
The branch of knowledge that deals with the creation and use of technical means and their
interrelation with life, society, and the environment, drawing upon such subjects as industrial
arts, engineering, applied science, and pure science
The sum of the ways in which social groups provide themselves with the material objects of
their civilization
Information Technology
The application of computers and the internet to store, retrieve, transmit, and manipulate data
or information, often in the context of a business or other enterprise
Information System*
An integrated solution that combines five components:
Hardware, software, data, procedures, and the people who interact with and are
impacted by the system
Digital
Technology
Prior to digital technology (0s and 1s), we used analog technology
Digital Economy
The economic activity resulting from the billions of online connections among people,
businesses, data, devices, and processes
Moved from agricultural economy industrial economy digital economy
Digital economy = information economy, knowledge economy, service and self-service
economy, sharing economy, and experience economy combined
Key Takeaways
Technology has catalyzed profound changes to the ways in which we live and work
Society has become increasingly dependent on internet technology for virtually all aspects of
communication and handling information, opening new frontiers for collaboration and
knowledge generation and also introducing an unprecedented set of security and privacy risks
Scientists and doctors have used technology to tackle problems that once seemed
insurmountable and we regularly use products and services that would have been considered
magic decades ago
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Smart phones are the key driver of business growth. Faster/cheaper tech means that computing
and telecommunications are accessible to billions of people in ways that are both opening entire
new market opportunities and poisoning our planet
Data are a currency of the digital economy and now a first-order means of value creation
Forces are accelerating and lowering the cost of entrepreneurship
Strategy
Setting goals, determining actions to achieve your goals, and mobilizing sources to reach them
Business strategy
How a company pursues sustained competitive advantage across its chosen market
scope
Five core principals
Emphasize outcome-based customer experience
Integrate core processes and real-time analytics to enable simpler, smarter, faster work
Support an empowered, highly engaged workforce
Collaborate with suppliers to accelerate growth
Use the Internet of Things to connect and leverage assets, generating improved insights
for faster, better decision making
Internet of Things
A network of electronically enabled objects that collect and exchange data
A vision where low-cost sensors, processors, and communication are embedded into a wide
array of products and our environment, allowing a vast network to collect data, analyze input,
and automatically coordinate collective action
The amount of data being created doubles every two years
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Notes 01.30.19
Business Strategy
How a company “sustains competitive advantage” across a chosen market scope
Conventional prevailing view in management schools
Sustainable, competitive advantage
Financial performance that consistently outperforms industry averages
The goal of the firm
Maximizing shareholders wealth
Maximizing the share price, value of the equity, value of the firm
Managers may not share the same goals as shareholders
Is an outdated idea
Want to sustain value for stakeholders instead
Fiduciary Duty
Legal obligation of one party to act in the best interest of another
Managing for Shareholders
Milton Friedman’s classic model
The company profit shareholders
Managing for Stakeholders
Ed Freeman’s CSR model
The company stakeholders profit
Firms and managers are also responsible for other stakeholders besides shareholders
Triple Bottom Line
Aims to measure the financial, social, and environmental performance of the corporation over a
period of time
Only a company that produces a TBL is taking account of the full costs involved in doing business
External Drivers
Changes in laws and regulations
Enhanced scientific knowledge
Shifting societal values towards sustainability and social justice
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Document Summary

The branch of knowledge that deals with the creation and use of technical means and their interrelation with life, society, and the environment, drawing upon such subjects as industrial arts, engineering, applied science, and pure science. The sum of the ways in which social groups provide themselves with the material objects of their civilization. The application of computers and the internet to store, retrieve, transmit, and manipulate data or information, often in the context of a business or other enterprise. Hardware, software, data, procedures, and the people who interact with and are impacted by the system. Prior to digital technology (0s and 1s), we used analog technology. The economic activity resulting from the billions of online connections among people, businesses, data, devices, and processes. Moved from agricultural economy industrial economy digital economy. Digital economy = information economy, knowledge economy, service and self-service economy, sharing economy, and experience economy combined.

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