Chapter 1: IT for Business and Business Professionals

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Ryerson University
Information Technology Management
ITM 102
David Atkinson

CHAPTER 1 IT FOR BUSINESS AND BUSINESS PROFESSIONALS • Moore’s Law: computing power (as measured by the maximum number of transistors in an integrated circuit) roughly doubles every 18 months • The underlying changes in the pace of technology with consumer access to lower cost and higher performance computing over time • Information technology (IT): is a part of any information system, is a key enabler to all organizations (large and small, private or public sector) and impacts all business disciplines (accounting, marketing, etc) • Knowledge work: involves the discovery, analysis, transformation, synthesis, and communication of data, information, and knowledge WHAT IS AN INFORMATION SYSTEM? • Information system (IS): is an organization collection of people, information, business processes, and information technology (IT), designed to transform inputs into outputs, in order to achieve a goal • IT is simply a collection of tools – hardware, software, and connectivity that enable individuals or businesses to achieve a goal • IT is irrelevant without the context of a clear goal, processes, and people • Productivity zone occurs that the intersection of people, processes, and technology; a successful IS system integrates all three of these components to create business value • Internet: become a integral part of personal and business lives for: communication, information, and commerce • COMMUNICATION generates business value by making it possible for professionals to share information both between themselves and with business partners • Internet allows communication through newsgroups, chat rooms, bulletin boards, text messaging using mobile phones, email and instant messaging • INFORMATION internet (world wide web) dramatically reduced the effort required to make information available and to find information in a timely manner • COMMERCE the buying and selling of goods • E-commerce: the use of information systems, technology, and computer networks by individuals and organizations to create business value • Information overload: caused by the ease of creating and distributing information and an absence of quality control means not all web sources are created equal WHAT’S IN IT FOR AN ORGANIZATION? • Organizations use IT to increase sales by calculating and compiling data to understand customer behaviour • Use IT to increase revenue per customer or gain new customers, increase efficiency and reduce cost. • Helps lower input costs, which can either be taken back in form of higher margins on products and services sold, or by enabling them to reduce selling price to preserve competitive advantage and retain market share or open new markets • Business, any organization with one or more people who: 1. Decide on common goals to pursue 2. Work together to locate and organize resources 3. Create processes to achieve the desired goals • Business environment: a complex collection of political, economic, social, and technological factors that organizational leaders must consider when making decisions regarding goals, organizational forms, and the creation of business value • Rely on digital information to gain competitive advantage and to respond quickly to opportunities TYPES OF INFORMATION SYSTEMS FOUND IN BUSINESS IS TYPE WHAT DOES IT DO? HOW DOES IT HELP TO CREATE BUSNESS VALUE? TPS (
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