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BUSI 2400 (25)
Chapter 1

IS Chapter 1.docx

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Department
Business
Course
BUSI 2400
Professor
Robert Riordan
Semester
Winter

Description
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
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