Textbook Notes (368,430)
Canada (161,877)
Business (358)
BUSI 2400 (25)
Chapter 1

IS Chapter 1.docx

5 Pages
Unlock Document

BUSI 2400
Robert Riordan

Chapter 1 IT For Business and Business Professionals The Importance of IS Why IS Matters • Moore's Law: computing power (measured by maximum number of transistors in an integrated circuit) roughly doubles every 18 months. • Means more performance -> processing power (measured in MIPS, millions of instructions per second) has risen because of transistor counts • Means decreasing costs -> packing more transistors into less space, reduced their cost and cost of the products they populate • Information Technology (IT): key enabler to all organizations and impacts all business disciplines • Knowledge Work: involves discovery, analysis, transformation, synthesis, and communication of data, information, and knowledge • In today's work environment, impossible to do knowledge work without technology What Is An IS? • Ie. surf the web, texting, instant messaging • Information System (IS): organized collection of people, information, business processes and IT, designed to transform inputs into outputs, to achieve a goal • IS enhances work, decision making, problem solving, communicating and coordinating • Information System Components: • 1. Input: items entered into a system to transform them into outputs 2. Process: series of one or more steps to transform inputs into outputs 3. Output: end result of a process. 4. Data: raw, unorganized facts 5. Information: processed/organized/transformed data that are useful. Data that has been organized and is useful to a person. 6. Knowledge: information plus human experience and judgement 7. Information Technology (IT): physical components (hardware, software, connectivity) that make up IT portion of an IS 8. Business Processes: collection of steps that interact with each other to transform inputs into outputs to achieve a goal 9. People 10. Decision 11. Business Value: positive return on investment of resources Data, Information, and Knowledge • Flow of data and information to create knowledge, creates value in organizations • Applying knowledge, how business people create and add value to organizations Chapter 1 IT For Business and Business Professionals • Data (computers) -> information (computers) -> knowledge (humans) -> wisdom (humans) -----------> task cost and complexity increases going towards wisdom • Wisdom: adds insight and ethical boundaries to experience and judgement in knowledge • IT and IS assist primarily with collecting, collating, and analyzing data and information • IS best when dealing with structured, repetitive data and information IS Versus IT • IT: collection of tools (hardware, software, connectivity) that enable individuals or businesses to achieve their goals (enabler to achieving a goal) The Productivity Zone • Productivity Zone: created at intersection of people, process, technology • Apply equal weight to all three and combine each element, businesses can achieve superior productivity and enhance competitive advantage • For students, mean excellent academic results • For businesses, mean increased efficiency and greater profits • For government, mean better services delivered at lower cost • For not-for-profits, mean enhanced online donor and event management systems The Internet • Internet: communication, information, commerce • Ease of creating and distributing information has potential for information overload • Internet generates value by being an avenue for buying and selling of goods (commerce) • E-Commerce: use of IS, technology, and computer networks by individuals and organizations to create business value What's In IT For Me? IT Is Fundamental For Your Career • Customer Relationship Management (CRM) • Enterprise Resource Planning (ERP) • Information and Communication Technologies (ICT) • Core Competencies That Apply To All Work Streams: 1. Analytical thinking 2. Information management 3. Relationship building • Others that apply to several streams: 1. Decision making 2. Leadership 3. Writing skills Chapter 1 IT For Business and Business Professionals 4. Project management What's In IT For An Organization? • Organizations use IT to increase efficiency and reduce costs Business Organizations and the Business Environment • Business: any organization with one or more people who 1. Decide on common goals to pursue
More Less

Related notes for BUSI 2400

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.