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ITM 100 (123)
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Chapter 3

Chapter 3
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Department
Information Technology Management
Course
ITM 100
Professor
Ron Babin
Semester
Fall

Description
thMonday September 27 2010 Chapter 3 Creating Business Value Business Organizations and Business Processes A number of different tasks need to be coordinated to deliver a product or service therefore a company needs a business strategy A strategy is a broadbased formula for how a business is going to compete what its goals should be and what plans and policies will be needed to carry out those goals strategy becomes a road map for what needs to be done in order to create business values and competitive advantageBusinesses as Open Systems Organizations use various resources processes and structure to create business organizations use various resources processes and structures to create business value input process output model is used to define IS now we expand the model into a general mode of an organization known as open systems model open systems model indicates that business operates by transforming inputs into outputs and formatting inputs into outputs and by interacting with its environments2 significant components of business environmentsStakeholdersBoundariesStakeholders and Boundaries in the Business Environment A stakeholder is a person or entity that has an interest and an influence on how a business will function A stakeholder can be external or internal relative to the business All open systems have an organiza
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